30 with Guyon Espiner Gary Stevenson
4 snips
Nov 18, 2025 
Gary Stevenson, a former top trader at Citibank and author, shares his remarkable journey from selling cannabis in East London to financial success. He discusses how rising inequality poses a threat to ordinary families and the necessity of a wealth tax to prevent asset concentration. Gary explains trading strategies that profit from betting against consensus and warns about potential bubbles in AI and crypto. His insights on the political challenges surrounding wealth taxation are eye-opening, highlighting the fears that hinder necessary reforms.
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From East London To Citibank
- Gary Stevenson won a Citibank trader role by beating wealthier candidates in a competitive trading card game.
- He used underestimated status and aggressive strategies to surprise colleagues and succeed on the trading floor.
Profit From Contrarian Bets
- Big trading profits come from being right when everyone else is wrong rather than following consensus.
- Spotting low-probability outcomes before others is where the largest gains appear.
Inequality Broke The Interest-Rate Fix
- Stevenson realised post-2008 that low interest rates failed to boost spending because rising inequality left households without spare money.
- He links shrinking living standards and sovereign debt crises to wealth concentration that drains assets from ordinary families and governments.