The Trading Game - A Confession
Our world economy is shaped by a handful. Economic instability, inflation, low interest rates – they all seem to benefit one group more than the others. The rich keep getting richer, the middle class is disappearing, and poverty is increasing.
Capitalism will always triumph over socialism – when you figure out how to get the most out of the system, will you ignore it? How many could resist robbing a bank when the vault is left open… and there are no consequences?
This has always been the case, and it will always be the case. People continue to take advantage of the loopholes. You only need to look around to see how much of this is true. Who profited when Ukraine was burning and energy prices soared? Who is profiting from the wars, and who is determining the geopolitics of the world? Why do we see CEOs of large corporations accompany politicians? What exactly are they lobbying for? Yet, each one of us is looking to get a piece of the cake… buy when the stock market is low, sell when it is high. And the rich keep getting richer. But should we be ashamed of this? Isn’t this just the law of evolution—survival of the fittest, or maybe the smartest? Still, does it have to be this way? That’s another question. Are we being blindsided by these short-term gains… what about the big picture?
The Trading Game is a memoir by Gary Stevenson, a former Citibank trader who exposes the system. Once labelled the UK’s richest young man by The Sunday Times, Gary came from modest beginnings – an East London council estate – and rose fast by betting on economic collapse. His story is as much about inequality as it is about finance. He shows how high risks are taken and profits made by anticipating the worst. At one point, he writes, “If the world gets poorer, I get richer. That’s how my trades work.” It makes you wonder how we could have been so oblivious to this – or have simply chosen to ignore it.
The book is personal and frank. Gary may sound arrogant to some – calling himself the best trader they had, despite having only a few years of experience – but the beauty is that he believes what he’s saying, and it feels true. The book is interesting, though I think his actions and lifestyle were extreme and eccentric. It’s an eye-opener and gets you thinking about trading in general. The whole point is to profit off someone else’s loss, betting on a value that isn’t real – just speculation.
A raw and real look inside the world of trading. Recommended for anyone questioning who really profits when the world falls apart.
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