Why Day Trading Does Not Work: Wall Street Pro Reacts to Billions Season 2, Episode 5

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In this video a former Goldman Sachs employee who worked at the top hedge funds reacts to Billions, including the TV show's accuracy and lessons that investors must pay attention to. Key topics discussed are why day trading does not work, how the most successful hedge funds make money, how governments change interest rates, how shorting currencies works, how George Soros made $1bn shorting the British Pound and much more. The video Wall Street Pro Reacts to Billions TV Show Season 2 Episode 5 contains closed captions.

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See my other Billions & finance movie reaction videos (which also teach finance and business lessons):

For all my Billions Episode Videos and Finance Movie Videos (i.e., Wolf of Wall Street and Wall Street movie), please see this playlist:
→    • Wall Street Pro Reacts to Billions TV...  

As mentioned in the video:
How to Present | Options Strategies: Billions Season 2, Episode 1:
→    • Public Speaking Tips | Options Tips: ...  

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Here are the Clickable Chapters for the video:

00:00 Introduction.
00:32 Topics covered: 1: Why Day Trading Doesn't Work (& How Successful Hedge Funds Invest), 2: How Governments Change Interest Rates (& How Soros Made $1bn Shorting the Pound)
01:13 Topic 1/2: Why Day Trading Doesn't Work (& How Successful Hedge Funds Invest)
01:54 Window dressing and liquidity explained
02:32 Locking in your bonus & hedge fund compensation explained
03:12 Why should you never day trade?
04:47 What does Warren Buffett tell himself after he buys a stock?
05:09 Why does long-term investing work?
06:01 How to make $1mn by thinking long term.
06:37 Are the best hedge funds day traders?
06:51 Who is the most influential hedge fund founder ever?
07:07 What are Tiger Cubs?
07:14 Source of top hedge fund ideas
07:30 Do hedge funds have an information edge over you?
07:37 How to do investment research like top hedge funds do
08:38 What sources of research do professional investors use?
09:15 Always analyze the management team first.
09:29 Quantitative data that hedge funds analyze
09:46 Coming up with a target price
10:01 Why do hedge funds buy "expensive" stocks?
11:19 Why should you never let others tell you what stocks to buy?
12:47 How to come up with investment ideas
13:45 How much is Axe Capital down in the quarter?
14:06 Do hedge funds make money every month?
14:13 What happens if you chase performance in the short run?
14:22 Marking up private investments (to hide losses)
15:08 What some funds do when they are down 4.9% in a quarter
15:33 Risk management metrics funds use to minimize poor performance
15:59 There are no ethical shortcuts to short term repeatable gains
17:14 Topic 2/2: How Governments Change Interest Rates (& How Soros Made $1bn Shorting the Pound)
17:38 Why would a country devalue its currency?
18:05 How does a country devalue its currency?
18:41 Fiscal Policy and Monetary Policy explained
20:29 How the Federal Reserve increases interest rates
20:51 What happens if a country can't change its interest rates?
21:45 Why do some countries make cryptocurrencies illegal?
22:10 How does Axe plan on devaluing the Nigerian currency?
22:35 Idea dinners explained
22:52 George Soros shorting the Pound, Thai Baht and Yen (he made billions)
24:32 Rating Bottom Line (Buy, Sell or Hold Rating?)
25:17 My next reaction video