Sunday, October 24, 2021

There’s a new ‘best stock-trading hamster’ on Wall Street

A 20-year-old Goldman Sachs website page is ranking Morgan Stanley trader Sergey Chaikin as the best stock-trading hamster in the stock market. Which makes sense. The stock market tends to respect trading accomplishments that began when your baby was in diapers.

As Mr. Chaikin, an associate at Goldman’s sales and trading unit, has told the Financial Times, his trading technique involves “only looking at companies with high valuations, using the trend-following strategy of going long when stocks rally, and going short when stocks slump.”

His technique paid off big last year, and it’s also been proven to work on Wall Street, according to the FT. This means that, of course, he’s a winner in the latest Goldman-funded competition — which, as TechCrunch points out, is also called Goldman’s Goldman favorite.

His skill hasn’t come from his ten years as a child and teen trading with Uno the Playthings. As Mr. Chaikin told the FT, he was forced to grow up when his good fortune—he made 25 percent for each week he traded — ended. “I’ve been able to make a lot of money when I’m 18 and in high school, but when I’m 25 years old it’s like no one knows me and I’m unemployable.”

The year before he signed with Goldman, Mr. Chaikin was among the first at the firm to make money from Bitcoin. He was the first American trader to get cryptocurrency trading right when he began getting 1,000 messages per day from cryptomillionaires like Sir Michael Caine, then the most expensive owner of a Bitcoin transaction. “I used to see many more messages like ‘I need your help,’ ‘Hello! How can I get you to sign off on Bitcoin?’” he told the FT.

Ultimately, this is the same charm Mr. Chaikin channels when interviewing investment opportunities. He’s already considered 10 possibilities and cannot give a single one away.

“I really love those people who ‘seem’ to be crazy but what they’re doing in terms of looking out the window saying, ‘Why did I bet on Midway gaming?’ or ‘Why did I bet on Tumi?’ Someone who has that kind of thinking in their mind is really smart,” he told the FT.

Mr. Chaikin got his training from his grandfather, who taught him about the markets. For anyone who enjoys Wall Street chaos, but really doesn’t have the time to train a hamster, read more about the Hamster State in John Karlen’s book This Hamster Rides the Straight and Narrow.

Read the full story on Financial Times.

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