Options disclosure: "Options involve risk and are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially significant losses. Please read Characteristics and Risks of Standardized Options at tastytrade.com/disclosures before deciding to invest in options." In this insightful conversation, the host sits down with Scott Sheridan, CEO of TastyTrade and co-founder of the revolutionary trading platform Thinkorswim, who shares his decades of experience navigating volatile markets and building successful financial technology companies. Scott discusses his contrarian approach to current market trends, explaining why he remains skeptical of popular investments like cryptocurrency and gold while emphasizing the importance of options trading during periods of high volatility like we're experiencing now. The interview explores Scott's entrepreneurial journey from floor trader at the Chicago Board Options Exchange to creating two major brokerage firms, focusing on how he built strong company cultures and the critical importance of timing, team building, and maintaining vision while staying flexible enough to pivot when necessary. Scott and the host delve into practical investment strategies for uncertain times, with Scott advocating for consistent market participation through dollar-cost averaging and his current preference for selling puts in quality stocks during high-volatility periods. Key Takeaways: * Trade small and trade often - consistent market participation with manageable risk beats trying to hit home runs, especially for those just starting their investment journey * Focus on what you can control and maintain strong risk management - whether in trading or business, calculate your risks and never invest more than you can afford to lose * Build businesses and hire teams based on trust and complementary skills - successful partnerships require people you'd trust with your financial future, and company culture flows from authentic leadership rather than corporate buzzwords Head over to podcast.iamcharlesschwartz.com to download your exclusive companion guide, designed to guide you step-by-step in implementing the strategies revealed in this episode. KEY POINTS: 02:34 - From floor trader to tech pioneer: How Scott transitioned from trading at the Chicago Board Options Exchange to co-founding Thinkorswim, revolutionizing online trading by creating sophisticated platforms that retail investors could actually use. 05:35 - Why this market crash was different: Scott explains how the recent volatility was completely self-induced by political decisions, making it unlike previous crashes and creating unique opportunities for prepared traders. 06:09 - The young investor's advantage: Why people in their 20s and 30s need to take significant risks and stay engaged with volatile markets, since they have 40-year time horizons that virtually guarantee higher returns. 13:01 - The psychology of trading size: Scott's gambling wisdom about getting opponents to play for more than they're comfortable with, and how to know immediately if you're trading too big by your physical reaction. 35:00 - Selling flood insurance after the flood: Scott's current strategy of selling puts during high volatility periods, explaining how elevated option premiums create profit opportunities for patient investors. 39:40 - Building culture through trust: How Scott creates family-like company environments by challenging employees beyond their comfort zones while promising that any mistake can be fixed with time and money. 52:54 - The entrepreneur's regret insurance: Scott's passionate plea to anyone considering starting a business - the worst outcome is working for someone else again, but the regret of never trying lasts a lifetime.
Full Episode
Hey Vodafone, ich weiß ja, schnelles Internet für meinen Betrieb hat seinen Preis. Nö, bei uns nur den halben. Wie wär's zum Beispiel mit bis zu 1000 Mbit pro Sekunde für nur 29,95 Euro im Monat?
Die Firma dankt.
Und die Fritzbox gibt's gratis dazu. Passt? Deal. Jetzt 50% auf Ihren Business-Kabel-Internettarif sparen. Im Shop oder auf vodafone.de slash business. Willkommen bei der I Am Charles Schwartz Show. In dieser Konversation, unveilt Scott seine kontrarianische Philosophie, die seinen Handels- und Geschäftsanspruch beigetragen hat.
He reveals why popular investments like cryptocurrency and gold don't make sense to him and how understanding market psychology and option volatility can turn periods of fear into profitable opportunities.
You'll discover why conventional investment wisdom often fails during unprecedented times and how embracing calculated risks while controlling what you can becomes the foundation for building sustainable wealth.
So if you're ready to learn how one entrepreneur turned floor trading experience into multiple nine-figure exits while navigating some of the most volatile markets in history, grab your notepad and prepare to rethink your approach to both investing and business building.
Scotts Insights are battle-tested, grounded in decades of real market experience and packed with actionable wisdom that could transform your financial future forever. The show starts now. Welcome to the I Am Charles Schwartz Show, where we don't just discuss success, we show you how to create it.
On every episode we uncover the strategies and tactics that turn everyday entrepreneurs into unstoppable powerhouses in their businesses and their lives. Whether your goal is to transform your life or hit that elusive 7, 8 or 9 figure mark, we've got the blueprint to get you there. The show starts now. Hi everybody, welcome back to the show. I am excited to have Scott on with us.
Scott, thank you for joining us.
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