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The ACID Capitalist Podcast
A Gonzo Dive into Wall Street's Wild Side: My Chat with Derek Wallis, Head of Equity Execution at Soros
Mar 19, 2025
Derek Wallis, Head of Equity Execution at Soros Fund Management, shares his thrilling journey through the chaotic world of Wall Street. He recounts a hair-raising moment when he had to inform Stan Druckenmiller about a billion-dollar mistake. Wallis paints a vivid picture of trading sharks like George Soros, whose market instincts are almost otherworldly. The conversation explores the evolution of trading practices leading up to the 2007 financial crisis and offers insights on risk management for personal investing. It's a wild ride through finance!
36:28
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Quick takeaways
- Derek Wallace's tumultuous beginning in Wall Street during the early 2000s illustrates the intense pressure and volatility traders face daily.
- The unique trading environment at Soros Fund Management highlights George Soros's unconventional strategies and the psychological resilience required to succeed in finance.
Deep dives
Derek Wallace's Journey on Wall Street
Derek Wallace, referred to as the Kiwi Proton Bomb, entered the tumultuous world of Wall Street in 2000 as an eager newcomer. Tasked with delivering a staggering billion-dollar loss to renowned trader Stan Druckenmiller, he found himself in a high-stakes environment filled with volatility and intense personalities. He experienced firsthand the frenetic chaos of trading desks, including witnessing George Soros’s shrewd market insights and unpredictable presence. This trial by fire not only tested Derek's mettle but also laid the groundwork for his future in finance, ultimately leading him to write a book about those formative experiences.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode