Why The Poor Get Poorer

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#75: Gary Stevenson, the most profitable trader of Citibank in 2011, grew up in poverty but found a way to reach financial freedom. He is now dedicating his life to raising awareness about income inequality. You’ll also learn:
• How he became the most profitable trader coming from a poor background
• What you can do to help stopping the growth in income inequality
• What wealthy people invest in vs what non-wealthy people invest in
• Why the middle class will continue to own less

Get Gary’s book ‘The Trading Game’ here: https://erika.com/the-trading-game

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If you want to know more on escaping the cycle that keeps you poor, check out this episode with Minority Mindset (Jaspreet Singh): https://www.youtube.com/watch?v=a4I-5MpSPjI

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Timestamps:
00:00 - Intro
02:12 - Gary’s not-so-typical trader journey
12:05 - What drove Gary’s motivation?
23:56 - What edge did Gary have?
29:11 - Wealth inequality and its impact on society
33:54 - Investing during COVID-19 with mixed results
40:50 - Difference between retail investors and professional traders
47:23 - How do wealthy people preserve their wealth?
01:01:21 - Financial literacy and asset ownership
01:03:24 - What should normal people do to start accumulating assets?
01:13:54 - Gary Taught Me