Jared Dillian Learned How To Seek Risk | Off The Charts
For Wall Street veteran Jared Dillian, getting away from Wall Street might have been the best thing he ever did for himself.
Now living in South Carolina, he can’t be further removed from the lifestyle of your typical Wall Streeter. And he’d have it no other way, as he’s convinced Wall Street took at least 10 years off of his life expectancy.
As Jared says, his stress levels are now “basically zero.”
Having lived on the bleeding edge of ETF market making at Lehman Brothers, and then being there into the Great Financial Crisis and Lehman’s eventual bankruptcy, he’s not ashamed to say he was burned out. Completely fried.
So when an offer came for him to stay on with Lehman’s successor (Barclay’s), he said “thanks, but no thanks” and he peaced out.
In the time since, Jared has published novels, trading books, and developed a widely-read newsletter.
And his newsletter (The Daily Dirtnap) is the jumping off point for this conversation as he published a piece in the aftermath of the August 5th volatility spike that is easily the best thing we read among the terabytes of noise that was thrown at us.
We get into his article and give Jared an opportunity to expand on the key points he hit upon including the four things he thinks every trader needs to be successful (hint: they aren’t strategies, software, execution, or indicators).
Learning about Jared’s transition from the risk-adverse mindset of his years serving in the Coast Guard, to adopting and internalizing a risk-seeking way of existence is fascinating and inspiring.
This is a fantastic and far too short conversation with one of the smartest market minds we know. Enjoy!
We talk to a lot of traders. Not just on this podcast, but across everything we do. And one thing that is common to most of them is some level of stress which must be routinely navigated. And it’s often a real struggle.
From an early age, David Hale had hustle in his DNA. At just 10 years old, he was sneaking into casinos to play slot machines. By 11, he was betting on horse races. And before long, he was hunting for arbitrage opportunities in baseball card values.
It’s hard to believe Denise Shull is a product of parents and grandparents who believed in “buy and hold” and wouldn’t even know how to sell a share of stock if asked to.
“I would not give a fig for the simplicity on this side of complexity, but I would give my life for the simplicity on the other side of complexity.” ~ Oliver Wendell Holmes
Reinventing your career after 20 years is no small feat. Now, imagine trying to do that by becoming an active trader. That’s exactly what Andrew Moss is doing—but he isn’t going in blind.
Among the many things that stood out during our conversation with David Lundgren, it was this quote: “I want to find a way to listen, and learn, and get a little bit better every day.”
