The Wall Street Coach with Kim Ann Curtin X Space with Anand Sanghvi (@sanglucci)- The Wall Street Coach – Episode #66
Mar 6, 2025
Anand Sanghvi, a professional large-cap options trader and hedge fund founder, shares his transformative journey in trading and the importance of mindset. He candidly discusses the fallout from the FTX collapse and personal losses, emphasizing the need for risk awareness. Anand compares trading to tennis, highlighting split-second decision-making. He explores emotional resilience, managing losses, and the benefits of community in trading. Ultimately, he advocates for self-awareness and finding meaning beyond mere profits.
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Visible Legitimacy Can Mask Fragile Books
- FTX collapsed due to hidden commingling, over-leverage, and reliance on internally created tokens (FTT) that lost value quickly.
- Anand warns that visible legitimacy (sponsorships, branding) doesn't prevent catastrophic balance-sheet failures.
Shorting GME With Tokenized Stocks On FTX
- Anand used FTX tokenized stocks with extreme leverage to short GameStop and kept funds on-exchange as an active trader.
- When FTX froze withdrawals he lost access, illustrating the danger of exchange custody during fraud events.
Prioritize Defense Over Chasing Returns
- Play defense: focus on risk management more than chase of returns and avoid holding large on-exchange crypto positions.
- Move faster to protect capital and trust instincts to reduce exposure to structural counterparty risk.
