https://reddit.com/link/1repi2t/video/kfn6n2aeeplg1/player

Institutional billionaire trader and investor sets the record straight.

His trading experience:

Options trading and risk management at Bear Stearns.

Private/long-horizon investments (later):

reporting notes investments such as venture-style stakes for example via Valar Ventures.

Real assets: he owned multiple high-value properties, consistent with a capital-allocation/investor profile later on.

He also participated in rigorous tax and estate planning

Context:

He is talking about how people naturally want to see patterns but there’s nothing there that’s repeatable or exploitable. (The 10 year cycle is an example)
The same problem exists for price action based cycles such as wyckoff, dow theory, mmxm.

He’s talking about data mining without a true mechanism behind it, which provides the edge. This is why a lot of traders fail and why many backtested strategies tend not to work IRL.

This is because there’s no mechanical or fundamental reason their strategy should work, only data showing that it has worked, which can easily be coincidence without mechanical evidence.

Many traders use techniques with little basis too, that’s the point of the post, the same principles apply to most daytrading strategies published by educators.

More is revealed in the full footage.