MARK RITCHIEII: I'm Mark Ritchie, this is Real Visionaries.
I'm Mark Ritchie II, manager of RTM3, which is a private friends and family asset pool. I'm also an analyst and coach for Minervini Private Access, where we coach traders on everything they're going to need to be successful in trading from A to Z. I am currently here at the Ritchie family homestead or the house that trading built, where I actually grew up and I lived and learn all manners of things about trading and speculation from my dad, who I'm also going to be talking about in this upcoming series.
This particular series I'm really excited about because I am going to be talking and speaking with people that I have an immense amount of respect for, most of which are both friends and mentors of mine. And the collective amount of experience is probably over 100 years. Each of these people have also taken a nontraditional path to markets and success similar to myself. And they're also just interesting characters, not in terms of just their story, but I think there's an entertainment quality that I hope people will really appreciate.
And not to mention, there are going to be some incredible pearls of wisdom that I think people can revisit repeated times as we go through. So, the first person I'm going to be speaking with is Mark Minervini, who I've mentioned on the platform before in my own Masterclass interview that I credit with a lot of some of my own success in terms of breakthroughs. He's been both a coach and mentor and friend of mine, we're going to be sitting down with Jared Dillion together for a roundtable discussion on all things risk, opportunities in the market, how we view certain things. It's a great discussion, I think people get a lot out of it.
MARK MINERVINI: This is a market where it's just grinding you to death, and slowly, but beneath the surface, and this is something that I've been, I hate to use the word prediction, because I don't like to give predictions but something that I expected that would unfold. I talked about a generation of investors having the biggest losses and getting set-- that generation getting set up for these big losses by getting conditioned that you had this low volatility. And every time the market came in every time stocks came in, these big cap FANG stocks, they just come back. That happened in the 1990s, too. And then of course, the proverbial crap hit the fan.
MARK RITCHIEII: Mark is an incredibly unique mind and story in terms of the way he thinks about things. And he's also an incredible coach, as well as an incredible trader, which is a really unique combination. I'm also going to be talking with Peter Brandt. Peter is somebody I refer to as Yoda, when it comes to risk management and statistics, and really taking a deeper dive to understanding probability theory in practice. I'm also going to be picking his brain on how in the world, an old school guy like him got into crypto, his current views on the crypto market and Bitcoin versus other things and how that even plays into risk.
PETER BRANDT: When we think about Bitcoin as an asset, right? It's computerized asset, it's computerized gold to some degree. It's not a company that produces a product that has a revenue flow that earns money, it's an unperforming asset to some degree, right? Now, that gets to the whole NFP, and can you earn money on these things? I have my own opinion, which is not super enthusiastic about that stuff.
But Bitcoin, at least at this point has been unhackable. Bitcoin has an immediate, we can place an immediate value on it. It's transferable, can be moved quickly. We're not going to produce more and it's except that, it's an except that asset. And so, it has a lot of characteristics of something and that can be a store of value.
MARK RITCHIEII: I'm also going to be speaking with Tony Saliba. Tony Saliba is one of the OGs of Chicago floor trading, specifically in the area of options, cut his teeth in markets almost 45 years ago, that were nascent at the time and talking through his evolution of going from a loser to a winner and then how he has transitioned that into many different areas.
TONI SALIBA: So, the lesson is to be disciplined, okay, but real discipline because it's easy to say I'm disciplined but you got to walk that line, particularly, I know your risk, I know what you can afford to risk. And I've been a big fan of a number of very basic and still old-fashioned but useful concepts and that is sounding boards. I solicit opinions of others and weigh them. And I might debate it, or quickly say, sorry, that's out of my lane.
But I've always advocated for-- I trained a lot of traders, and I had all my clerks trade, and I advocated a consensus and sounding board in different ideas like, where do you think vol is going to go? Because analysis goes so far. And homework, homework is huge. To go to bed at night understanding what you could expect next morning, you're so much more prepared for the next day.
MARK RITCHIEII: And lastly, I'm going to be doing another interview with my father, a part two of the whirlwind interview we did a few years ago on Real Vision. And in particular, I want to talk to him about some of the lessons he learned from the 1970s because that was the market where he really cut his teeth. And there are a lot of interesting ways to compare and contrast the current environment to that environment, different ideas around volatility, inflation, and then coming back to risk management, and how to stay in business and alive, regardless of the different regime.
MARK RITCHIE: Do you think anybody in Washington knows how much debt the US government can deal with?
MARK RITCHIEII: I'm not going to answer that because I think everybody is--
MARK RITCHIE: It's a rhetorical question. It's a rhetorical question. So, you asked the question, how bad can things get? I was in the pit when somebody came along and told me that the Federal Reserve had just raised the interest rate from 22% to 24%.
MARK RITCHIEII: One shot.
MARK RITCHIE: This is the advantage that's specific of a being old. Nobody in this room can remember that. I promise you that.
MARK RITCHIEII: That's for sure.
MARK RITCHIE: Can things get worse? Oh my gosh.
MARK RITCHIEII: Each one of these people deserves probably twice as much time as I even gave them in the conversation. But again, I think there's just going to be an incredible amount of lessons and really great insights into what's made each of them successful. I'm really excited about this series and I hope you enjoy it as much as I did sitting down with each one of these guests.