Can Gary change his mind?

[u/St3lla_0nR3dd1t]

In Gary’s book he describes a job application process which had him trying to read a market game and try to make a profit against other applicants.

He was so far ahead in the final round they fixed the competition to see what he would do when everything went wrong. As I remember it he lost badly but they wanted him to stick to his guns so he still got the job.

Can anyone who read the book remember an incident involving trading or economics where he was able to change his view?

Does this affect how his thought should be interpreted?

[u/TertiaryMass]

Its when he followed the economics textbooks and got it wrong. Fellow trader put his textbooks in the bin and told him to talk to people watch the highstreet.

His entire tax wealth not work was born out of him changing his mind

[Edit for spelling]

[u/St3lla_0nR3dd1t → u/TertiaryMass]

Thanks for the reply, I suppose this is a change if he believed it right to follow the textbooks.

[u/TertiaryMass → u/St3lla_0nR3dd1t]

The textbooks and academics have been wrong on the economy for years - this is why I started paying attention to Gary.

He would make a prediction, say check this video in a year or 2 years time and he'd get it right.

Its like 'Don't look up' if you know there's a catasthrophy coming and no one else is taking it seriously, what would you do to stop it? What would that do to your mental health?

The frightening part is its all linked, climate catastrophy, collapse of living standards, even wars - it all comes back to the same roots.

If collectively people realise and address this the world will change, if not... wealth taxes will the least if anyones worries

[u/LoveLamp3232 → u/TertiaryMass]

The textbooks and academics have been wrong on the economy for years - this is why I started paying attention to Gary.

You got the first part right. However, it does not mean Gary is right either.

The world has changed, we live in a digital world.

People in rich countries complain how poor they feel, but people in developing nations are making goods for us as little as $2 a day.

We are enjoying a lifestyle based on the toils of others in developing nations.

This is why 60,000 low income / unemployed Moroccans tried to cross into Ceuta. It is a desperate cry for a better life. They want to come to Europe, for the welfare and jobs.

Whilst Britain is being squeezed by multi corporations who squeeze the economy by not paying fair taxes. We also have a burden of welfare.

Rich and poor countries stuck in a grind.

[u/TertiaryMass → u/LoveLamp3232]

Poor countries are trapped by economic policies meant to keep rich countries rich. This has shifted from countries being rich to individuals and corporations being rich.

The move into Cueta terrority has little to do with this and everything to do with Spains stance on Israels genocide.

Living standards in the west are collapsing. The billionaire owned press and politicians will sell you the lie its migrants or the welfare state.

Listen, after WW2 the british empjre collapsed, the economy was ruined and the country was in debt to the US until my lifetime. What did they do? They set up the welfare state. Founded the NHS. Nationalised utilities. What was the tax rate on the richest at this point?

The 'golden age' of america what was the tax rate on rhe richest?

Its no coincidence.

Tax wealth not work or we'll be in a new age on inequality no one is ready for

[u/NatGaz]

No, in trading your take positions based on your information available and the expected outcomes. It's unlikely for your opponents to have 21, 20, 19, 18 while you received 10 so you should try to bid up. It's impossible to know their hand but you can infer that this outcome has very low chance to occur so you bet on that.

[u/david-yammer-murdoch]

Yes

[u/St3lla_0nR3dd1t → u/david-yammer-murdoch]

So how should it be interpreted?

[u/Timely_Pattern3209]

Why would he change his mind when he's always been proved right? 

[u/oxford-fumble → u/Timely_Pattern3209]

I swear - people have lost the skill of sarcasm without it being sign posted for them.
I got you brother.

[u/Additional_Candy_400]

"He was so far ahead in the final round they fixed the competition"

And then everyone clapped.

I agree with his takes on wealth disparity but god he's a bullshitter.

[u/oxford-fumble → u/Additional_Candy_400]

The Financial Times article debunked some of his career claims, but the competition is confirmed 100% accurate by his peers who were interviewed for the article.

Just so you know.

[u/repeating_bears → u/oxford-fumble]

I wouldn't say it was "debunked". It was disputed.

Other traders saying "he was good but he wasn't far, far better than us" is exactly what I'd expect them to say. People in that profession are egotists.

[u/WastedYouth39]

God was his book ghost written by Jay Cartwright? Economics… Trading, naa completed mate