Anthony Scaramucci is on SteadyTrade today!

One of SteadyTrade’s biggest goals is to help you become an informed, intelligent trader. One way to increase your knowledge base? By learning from established traders and stock market movers and shakers. 

Today, co-hosts Tim Bohen and Kim Ann Curtin are joined by a major name: Anthony Scaramucci, aka “The Mooch.” He’s an entrepreneur, financier, and former White House communications director.

In today’s episode, you’ll learn some incredible lessons about trading and the global economy in the face of the coronavirus. And you’ll hear why Anthony thinks patience is one of the true secrets to trading success. 

Scaramucci’s Story 

Anthony Scaramucci is one smart dude. He’s accomplished a lot in the world, and he comes from humble beginnings.

Born to a blue-collar family, Anthony went to public school. His work ethic and grades got him into Tufts University and Harvard Law. But he still had a lot to learn about the world…

Anthony shares his cringe-worthy story of interviewing at Goldman Sachs in a “fully flammable” polyester getup … And how he was told that no matter how smart he was, he wouldn’t get ahead until he dressed better. Luckily, he got himself some new threads — and his career began. 

Learn how he progressed from investment banking to private wealth management. He started his own successful business as a registered investment advisor with a trading fund. And, of course, talks about how his hard work landed him a job in the White House. That unique but short-lived experience ultimately led him back to his roots. Hear his full story in the podcast!

Coming Into Your Own Success

Anthony shares reflections on his own rise to success, including founding SkyBridge. He digs into his own real-world education and rites of passage in the world of finance. 

As he puts it…

“If you’re starting with nothing, not only do you have to be humble, but you have to be intellectually curious. You have to look for role models and you have to figure out directionally which way you want to go. Ask a lot of questions and build your own personal board of directors.” 

Great food for thought … What would happen if you, as a trader, thought of yourself as a company? What if you had to answer to employees? Would it change your level of accountability and inspire you to do better?

What’s So Great About Wall Street?

Anthony Scaramucci’s had a lifelong love affair with Wall Street. Why? 

According to him, Wall Street is the business of understanding business. And trading is the business of understanding other traders.

It’s not about knowing everything there is to know about pharmaceuticals or a particular sector … Even more so, it’s about human nature. 

Anthony subscribes to Warren Buffet’s idea that “The stock market is a device for transferring money from the impatient to the patient.”

The people who get overly emotional in the moment are the ones who lose. Just ask co-host Stephen Johnson, whose biggest losses were the result of emotional decisions! 

According to Anthony, you have to be a big boy or big girl and mark yourself appropriately in the market. Can you condition yourself to be dispassionate in productive ways? 

Anthony Scaramucci: What About After the Pandemic?

Anthony talks about the biggest catalyst in the market right now: the coronavirus.

Learn about his thoughts about what could happen with trillions of dollars of stimulus and how it ties back to trading.  

Don’t miss an eye-opening conversation about the “$3.7 trillion hole in the economy” and why he says, “I’ve never seen anything like that in my life.” 

Qualities of Successful Traders 

Rounding out the episode, Anthony speaks to some of the qualities he thinks are key to trading success, including:

  • The ability to admit that you’re wrong.
  • Confidence … but also humility. 
  • The ability to detach from your emotions — and the ability to admit when you can’t. 
  • Staying present and avoiding distractions and mind games. 

Connect With Anthony Scaramucci

Want to learn more about Anthony Scaramucci and his work? Check out these links:

  • Find Scaramucci’s books on Amazon.
  • Learn more about Scaramucci’s firm SkyBridge and his world-famous yearly conference, SALT.

Find Scaramucci on social media:

Curious About Something?

Got questions or comments? Don’t be afraid to reach out! 

Remember: if we choose your question as an on-air topic, you could win a SteadyTrade mystery gift box. Leave a comment below or on YouTube!

Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.

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