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The Pomp Podcast
#1421 Tom Sosnoff | World’s Greatest Trader Reveals His Secrets
Oct 14, 2024
01:01:12
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Tom Sosnoff, Founder of TastyTrade and CEO of TastyLive, shares his remarkable journey as a trader and entrepreneur. He reveals secrets behind making 18,000 trades a year and trading as many as 100 positions daily. The discussion includes insights on market volatility, unique trading strategies, and the rise of new investment behaviors among younger traders. Sosnoff also explores the influence of high-frequency trading on markets and the intricacies of option trading, providing an inside look into the restless world of trading.
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Quick takeaways
- Tom Sosnoff stresses leveraging personal strengths in entrepreneurship, illustrating this through his impressive product development and multi-billion dollar exits.
- He describes his active trading strategy of executing between 13,000 to 18,000 trades a year, primarily using options with short timeframes.
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Entrepreneurial Journey and Company Success
Tom Sosnoff, founder of Tasty Trade and CEO of Tasty Live, emphasizes the importance of staying within one's strengths as an entrepreneur rather than attempting to solve every problem. He successfully built and sold two major platforms, Thinkorswim for $750 million and Tasty for $1.1 billion, showcasing his unique approach to trading and product development. His success illustrates that effective entrepreneurship often stems from leveraging personal expertise and knowledge to offer superior solutions in the market. This philosophy led to his companies becoming gateways for millions of traders, demonstrating the significant value created through innovative trading interfaces.
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