Rob Kissel, a banker, moves his family to Hong Kong in 1997, where they lived in luxury and embraced the expat lifestyle. However, their idyllic life takes a dark turn when Rob is found murdered in his apartment, and his brother Andrew is later convicted for the crime.
Long-Term Capital Management borrowed $125 billion on the $4.8 billion of capital they had and leveraged themselves up 26 times, creating 60,000 trading positions worth $1.4 trillion which could have caused the whole economic system to collapse without a bailout. All of it was done with synthetic margin, no actual capital was involved.
Simmons becomes determined to create a high-tech trading system that relies on algorithms and human intuition to make big profits. He shares his goal of building a sophisticated trading system fully dependent on preset algorithms that may be automated.
The speaker describes how everyone in the neighborhood knew Craig and his 610 CEO with long hair. The speaker talks about feeling like they were in war, while people say that money doesn't make you happy.
The speaker ponders on the idea of being a "time billionaire" and what it would cost for someone like Rupert Murdoch to buy the next five years of a healthy 20-year-old's life. He talks about the concept of a life calendar and how it affects his perspective on life.
The episode discusses some key facts about Shake Shack's business, including the revenue per store and the age of their managers.