Summary of Justin Gregg's If Nietzsche Were a Narwhal

Please note: This is a companion version & not the original book. Book Preview:

#1 Mike is a day trader who was wrong about the stock market in 2009. He lost everything and had to quit trading full-time. He continued to dabble in stocks, betting on long-shot stocks that could potentially make him a millionaire, until he found GameStop.

#2 Mike was not prescient. He just got lucky. He was not prescient because he was not a professional. He was a day trader who had lost everything in 2009 and continued to dabble in stocks until he found GameStop in 2020, which he then bought options on and made $25 million. -> The story of Mike is not that it takes serious smarts and years of experience studying the stock market to correctly predict why and when stock prices will rise and fall. It just takes luck.

#3 The stock market is a crapshoot. Some people are lucky and make big profits, while others are not.

#4 Humans are the why specialist species. We have a burning desire to understand cause and effect, which distinguishes us from other animals. But this ability did not give us an edge when it came to stock price predictions.

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Rafbók: 6 september 2022