The Truth About "Trading Gurus" From a Hedge Fund Manager

[@PBoyle]

Hi Steven, it was great fun talking with you this morning. Hopefully your viewers will enjoy our conversation. PB

[@jpdenford1473]

Thank you both for the great conversation. Please get a link to your channel added in the description!

[@Hsoloooo]

Subscribed! Going to binge watch your channel this weekend!

[@jpdenford1473]

​@rrobertt13 I guess you're just trolling or perhaps I wasn't clear. I just intended to be helpful so others don't have to trawl through the comments to find the guests channel.

[@haydenwilsonx]

Thanks for the real insights, Patrick.

[@fnfn9199]

this was an awesome interview, you should start a podcast

[@bvm437]

Nobody who finds a goldmine would sell shovels unless the shovels make more than the gold or they suck at mining. It's always like that. There is only so much gold.

[@Mr_Hassell]

An they wouldn't tell others how to get to the gold mine...

[@bvm437]

@@Mr_Hassell My point exactly. If you're digging and you find something, you don't put your pickaxe down and start yelling, "I found gold! Over here!"

[@wiseGUY1288]

I'd rather be a shovel salesman in a gold rush than a miner. Get rich, and you don't have to spend time getting lucky looking for gold.

[@cantu7614]

@@wiseGUY1288 you missed the point to the comment completely

[@wiseGUY1288]

@@cantu7614 👍

[@martinxlive5]

This is crushing my dreams of making 10 million a month with my 5k

[@MrBchi]

Don't let any well educated, experienced sincere man tell you you can't do anything you want to do. If you want to do something you just need a $57 course on how to scam people.

[@akuntanmillennial5980]

@@MrBchi LOL

[@petarz9029]

@@MrBchi well said brother! Keep the dream alive! 😅

[@julie91295]

Or you can invest the 5k into renting some suits and lambos and became a tik tok guru and run scams

[@AbhishekSingh-tx3sp]

@@MrBchi hahah

[@sethstewart9704]

Love Patrick Boyle. He's one of the most real people in this space, and he's taught people so much about how to think financially.

[@phillipross2641]

Nice to see that Patrick had 5k subscribers at the time of this video, but now have 600k+

[@zegarp]

If you limit "this space" to "youtube" / "the internets" then yeah ;)

[@badluck5647]

I prefer half donut

[@sofianehamouda1230]

Patrick was my professor at uni. one of the brightest minds I've ever had the chance to interact with

[@grahammizzi4368]

that is cool

[@zaidislam1774]

which uni?

[@banglacowbanglacow3340]

Was the knowledge you gleaned ever applied to the investment field ?

[@sofianehamouda1230]

@@zaidislam1774 QMUL

[@faithgoga3983]

😅 did he tell jokes with a straight face too? The jokes miss me, then I go to the comment section only to see people laughing at jokes which I missed.

[@ThePlainBagel]

As the creator of Half Donut One Donut Finance, I wanted to thank you personally for the mention. :) Also, excellent video!

[@darthsiddious7469]

breakfast circular edibles, close enough haha

[@geovanniecheverria5678]

Ben Felix has amazing content realeate to investing.

[@huzzah4139]

@@geovanniecheverria5678 Agreed, Ben Felix makes one of the best videos i've seen on investing

[@CuriosityUnchained]

The Plain Bagel Your vids are really great 👍

[@siddharth_kashyap_A]

Lol

[@Andre_Beth]

Patrick Boyle is GOLDEN. I am 60 years old and trading since I was 19, I can totally relate to everything he is saying. My biggest problem with trading in the early years was myself - it is so hard to change, but once you get it, then things start going in the right direction. Nice find getting him on your show!!

[@fungdark8270]

Same, I’m still new, but recently came to terms with my bad engagement with trading - as gambling. I’m now running the wheel strategy to build a good portfolio

[@crispyduck1706]

if you were any good you would have been minted by now

[@craggerrs]

Are you a trader?

[@krozareq]

It is very good to see someone like him on KZbin. Stressing value creation is so important. It's one of the reasons I often prefer a market that has lower liquidity. When fed interest rates are practically nothing and money is flowing like crazy, few companies are investing in value creation. Instead, capital is being flushed down the toilet and everyone is excited about it. Then we see, like recently, with rates going up and the smoke clears: it wasn't the interest rates that lost all that money, it was already gone while everyone was having a party. Now companies can focus more on value creation. When trading, one has to stay off most of the internet. Almost everything out there is garbage. The boring stuff is better.

[@craggerrs]

@@krozareq undoubtedly, the boring (or 'unsexy' stuff as some people call it) is where the real gold is

[@harrystyles7466]

Im only 15 minutes in and i already love this guy. So refreshing listening to someone so well educated.

[@illuderebeliarh1260]

check out his channel, it absolutely blew up after this interview

[@patmustardlive]

He’s also a PHD Professor

[@harrystyles7466]

@@illuderebeliarh1260 yes thats why he did this interview in the first place

[@memekultra]

hedge fund managers are monsters. utter parasites on society

[@cumcumcum148]

I think one of the best things about Patrick is his humor style. I never saw a person who could crack multiple jokes in a row with stone cold face just in the middle of explaining something

[@manifestyourlife6]

Scamming people is a lot easier than convincing people they are being scammed, GURU's prey on this mentality.

[@reddbehrens]

People don’t want to believe that it actually takes time and effort to make money.

[@ladybird491]

Deep but true, especially if the person meet stereotypes according to looks and race.

[@axelpatrickb.pingol3228]

Mark Twain said something along those line like there existing two types of fools: the ones that were fooled and the one who refuses to believe they were fooled...

[@mineralt]

That is a powerful truth June!

[@johnpersechini4951]

Well said and sadly true. I comment on some of these pages and say how expecting to turn $1k to $10k is unrealistic unless you gamble and get lucky and that 2020 was an unusual year and these returns are not realistic over time. And these followers attack me and think I’m foolish 🤷🏻‍♂️

[@NeighborSenpai]

Of course the guy that knows stocks very well would look like the STONKS man

[@Aslamuddin_]

Haha. Go up

[@mot7808]

😂😂😂😂😂😭

[@FifaMaestroAdam]

Lmaoooo

[@hankypanky4u]

Lolololololilolilololollmaooooo X1000000000 LOLOL

[@dm.3145]

GODAMIT THE SIMILARITY IS UNCANNY

[@Kokola-qh9wp]

I appreciate how Patrick Boyle talks about the emotionally draining aspects of the job, like not everything is sunshine and roses and I think the lack of pain of a 'real job' that these scammers sell is one of the keys to their success

[@Userhfdryjjgddf]

Gonna say. From when I was 15 till 40 I worked Manuel labor low paying hard azz jobs now I have own business and work 15 hours a week amd make more than ever before. If you aren't climbing a ladder all day carrying heavy stuff up it. Cutting steel with a cold saw all saw. Hanging sheetrock. Sandblasting 10 hours a day. Then no any job in front of a computer is not a pain and not hard.

[@DoubleMonoLR]

@@Userhfdryjjgddf So what you do is hard, but something you've never tried isn't hard...

[@JimBob1937]

@@Userhfdryjjgddf , jobs where you use your mind can be just as draining, just in a different way. Kind of surprised you're only working 15 hours. All business owners I know work more than their employees.

[@didierb9102]

Trading with consistent positive results is a demanding job, but it works. Doesn't need 1 million in your bank account to make 100% return a year in an uptrending market. Trending low volume is easier than to manage a hedge fund.

[@markcrisp07]

Is he a day trader?

[@Lambda.Function]

I'm glad to see Coffee interviewing Boyle back then, he's kinda blown up since and good. Smart guy with a really nice sense of humor. But you're both wrong. It's really easy to make a lot of money quickly. See what you do is you create an unregulated security, like a crypto token, pump the price up, then use that as collateral to leverage a huge loan, then make a bunch of risky bets. If the bets pay off, you got rich real quick. If they don't, you get to dodge Coffee asking you whether you committed fraud and suggesting you should be in jail.

[@bubble2904]

Heck you got me in the first half Hahahah!!!!

[@FYPNLP]

🤣🤣🤣🤣🤣🤣🤣🤣. You cheeky scoundrel

[@piccalillipit9211]

He is funny AF - and his documentary on Charles Ponzi is BRILLANT - so ch an interesting character.

[@gerald216]

The only problem with the "quick" scheme is that one day legislation will catch up, and I do think with record preservation as it is today they will be at least sued. But some of the actual monetary values some of these guys walked away with I do think they will get completely screwed in the end. Why? Taxes. There is no way the IRS will let all that income just go undocumented.

[@akhil1996kc]

Why are you called "Lambda Function" lmao

[@DANpimp95]

While I'm watching videos about scams, KZbin is showing me advertisements from scammers 🤣🤣

[@rauldempaire5330]

Same here!...

[@barneycasting8331]

I am surprised you aren't using the Brave browser to watch KZbin! Brave browser blocks KZbin ads as well as pay you BAT cryptocurrency which you can convert to USD.

[@brennancoats9964]

Barney Casting my man is trying to advertise a scam, on a comment about getting advertisements for scams while watching videos about scams...

[@aaidelbessraoui2650]

Same here. Like yeah assholes still exict aguess

[@DenzelLN936]

Hi my name is Dan N as well.

[@davec8921]

Patrick is a real gem, I've watched so many hours of his videos. The first one I almost turned it off in the first couple minutes because I didn't understand his humor but it's really grown on me. Really smart guy.

[@MK-13337]

If you don't pay for a product, you _are_ the product. This applies to no commision trading platforms, where high frequency traders buy your data and use it to gain money by using your data to be ahead of the market. This also applies to things like gmail, facebook, instagram, youtube where you don't pay money, but your data is sold to companies that put targeted adds in front of you. You and your data _are_ the product these firms sell.

[@TC-th1ey]

I think if I were a product someone is due a refund.

[@faizalqorni7969]

With fake guru, if you paid you are the product lol

[@williamc4221]

I love how he mentioned that hedge funds smooth out volatility. They don't necessarily produce a bigger, better return. This is why you need to be incredibly wealthy to make it worth investing in a hedge fund to begin with.

[@AJohnson0325]

Some produce great returns but I believe the idea is to produce good returns with less risk than the overall market. When the stock market was falling and everybody was losing money, Bill Ackman made an absolute killing.

[@maxt1617]

What is so nice is that around the 50 min mark Coffeezilla says the Patrick's KZbin channel with only 5k of subscribers is criminally under-rated versus the fake gurus... and 3 years later Patrick has over 500k subscribers. The cream eventually rises to the top, the grind pays off, the genuinely knowledgeable surpass the fakes. 👍

[@Efraim17275]

Yep even though I actually know Patrick from plain bagel but it's interesting and kinda sad that he barely had 10k subs when he actually educated people and not scamming with intriguing thumbnails such as how to make 500 USD while sleeping 😂

[@benjaminrupertodomingo1707]

Whenever someone says, "you dont need to work to earn a lot of money" that's a big red flag

[@RichardManey]

I am a former floor derivative trader who was part owner of a self funded firm (no outside money). I have pretty much seen it all and I can tell you it is tough to make and then keep money. You have to ask yourself why someone would share with you a system or philosophy that is guaranteed to make you money. Why wouldn't they just do it themselves and retire to that island everyone talks about.

[@Kloutkulture]

Then you should know because trading takes risk

[@mehmeh1999]

@@Kloutkulture "If a square's angles add up to 360° and a circle encompasses 360° then why isn't a square considered a circle". What you have stated is the finance equivalent of the aforementioned mathematical statement.

[@Kloutkulture]

@@mehmeh1999 Not even close at all. Nice try though kid

[@mehmeh1999]

@@Kloutkulture What would you liken it to?

[@Kloutkulture]

@@mehmeh1999 Not close to what you said.

[@Marrow9000]

I watched this video in late 2020 when it came out. Now in Jan 2023, Patrick has developed his own channel and it is doing well to educate viewers honestly but also with humor. Also Coffeezilla has gone from something like 200k subscribers or something to 2.3 million. And that is due to quality content, not to fraudster or click bait garbage.

[@steverogers7601]

Nah, Coffeezilla does have quality content. Let me say this again before you overlook this; Coffeezilla does have quality content…. But it’s not just honest, good quality content alone. CZ leans into the drama. He’s entertaining, savvy, and engaging, but he leans into the drama side of these scams, and it’s in part to why his channel blew up. He leans into the YT clickbait thumbnails, leans into the drama side of scams which also fuels viewership on YT, and of course, credit to him he has an enthusiastic and entertaining personality. He’s a good guy and I like him, but he falls into the classic nature of KZbinrs.

[@kennyharper388]

Finally someone who comes across REAL. None of this fake crap!

[@louissanderson719]

He’s been on the industry over 20 years. He knows his shit

[@Calvinbui09]

I'm one of Patrick student in his derivatives class. One of the best professor that I had and the material on his channel helped me immensely on my final.

[@lindaardito8237]

This is the type of guy I respect. He is honest, down to earth, does his homework. U deserve much success!

[@raywest3834]

Patrick makes the killer point: If you had a goose that laid gold eggs, why do you need to share it?

[@andreidinu7316]

Especially if the eggs are limited.

[@SweWince]

Maybe it's too expensive to buy on your own, and the eggs get bigger with more people owning/tending to it?

[@pierreclifton1865]

And charge $4,000 membership

[@nayanmipun6784]

Not necessarily, many valid successful traders have good will too

[@mariahlin5556]

@@nayanmipun6784 Goodwill? nonsense. It's to profit in some way or another, whether by image or money.

[@oniichanyamete3992]

Watched the whole video, this is the quality I'm looking for KZbin. No filters just content

[@paulzbarcea]

Really impressed that you got to interview Jason Statham, he's surprisingly knowledgeable about finance

[@iamcarlosamaya]

HAHAHAHA

[@orionmorgan5155]

Nice Patrick Boyle channel reference. I do find that they both have a nose, ears and a mouth. So they are quite similar.

[@ToadFart]

@@orionmorgan5155and bald. I think that’s a key feature between them.

[@petitio_principii]

@@ToadFart precisely, also the vocalist from R.E.M. They're all identical because of these traits, but you can tell it's not the singer from REM because 1 - the voice is different, and 2 - he isn't singing.

[@sinfulhappiness]

🤣🤣🤣🤣

[@LisaHarvey16]

"A successful man is one who can lay a firm foundation with the bricks others have thrown at him." ---David Brinkley

[@nirmaldhallu9780]

I have been trading full time since 1994. This is one of the best and honest advice.

[@ilari90]

5k subscribers then, year later 100k, now about 800k, Patrick is so fun to watch.

[@relwaretep]

Best crypto rap news presenter on the planet

[@gtw4546]

I clicked because the thumbnail showed Patrick Boyle gesturing with BOTH HANDS - and I'm not disappointed! I'd been seriously wondering if he was paralyzed in one arm and I'm glad to learn that he's not.

[@nameofthegame9664]

Would be an absolute treat if you made a follow up to this video with Patrick. Since you both have substantially more subscribers now it would reach many more viewers and people really need to hear this.

[@JimmyDeLocke]

Patrick Boyle is the most astute commentator on KZbin by far when it comes to matters of Finance

[@hughcards]

Agreed. He’s a star.

[@FreaksSpeaks]

And funny too at the same time.

[@team7tv_]

Ok Patrick Bateman

[@Themystergamerr]

Engaging convo. I was about to fall asleep but woke up when this started. And props to coffee for being such a good listener and interviewer. No annoying interruptions 👍🏽❤️

[@batchampa]

Trading sounds a lot like hacking/IT security in that learning the skills necessary requires a lot of reading, a lot of practice, for most people a lot of training. Many people get into it because it looks cool from the outside but don't want to learn the deep elements of the systems they want to attack, they download Kali Linux and open a terminal and think they're a hacker.

[@vedashen3573]

you nailed it. Trading is a profession. Of course you have to learn and practice a lot. I mean a lot. Not for nothing almost everyone fails. Also because of wrong expectations. And especially in day trading, you have to deliver top performance every day. If you only learn it in order to make money with it, then you won't make it because there are too many hurdles and you will lose money very easily. To persevere and become a pro you need a passion for it in my opinion. And the most difficult part is to master your own psychology. You must be able to control yourself and your emotions. The better you can do this, the better your performance and the easier it is for you to stick strictly to your trading plan. The latter is especially important in extreme situations.

[@CvnDqnrU]

Everything is like that, but in investing you can lose your life savings if you make a mistake, and in IT security everyone's life savings.

[@Baghuul]

The thing about trading is that no matter how much you read, study, ect... does not mean you will be better at it. You might have a better understanding, but it does not make you more profitable.

[@vedashen3573]

@@Baghuul I have to completely contradict this from my own experience. The more I understood, the more profitable I became. The way there is only stony and difficult.

[@vedashen3573]

@Omar Ignacio Silvestrini Isn't boredom also a sign that you have become a professional? At some point it is simply nothing new in general. You just follow the same procedures that have proven themselves. Nevertheless, there will always be adrenaline filled (more exciting) days.

[@Raphmlynarski]

"The stock market is like a casino where you sit on the correct side of the table" Great insight about equities from Patrick Boyle.

[@TheTwilightBong]

A real, inteligent, funny, charming and humble professional day trader, that teaches how to honestly make a living out of it, and saying how hard it is, only had 5k subscribers when this vídeo was out. In the meanwhile, fake gurus/scammers that pretend to do it and easily making tons of money out of it, have millions of subscribers. The world really needs to change.

[@Stannely1]

"You guys are buying $2000 courses when you haven't even cracked your local library" - Coffeezilla

[@diorocks5858]

awesome you killed it

[@cramsa]

@X Æ A-Xii Some of the “gurus” run pump and dump” groups and their “strategy” would massively fail in the large blue chip type stocks/instruments etc.

[@paullarsen4178]

Agreed. Unless you are willing to spend the time to invest in yourself, why invest your money in someone else?

[@Some0ne001]

The library has been awesome. Got a library card and you can go online to connect your card online now you have access to a huge library of e books, audiobooks, and more. Jesse Livermore’s books have been my favorite.

[@imwithstupid086]

@X Æ A-Xii That's if they even have portfolios. Robert Kiyosaki, anyone?

[@LuisCarruthers]

I've seen these "Master the guitar in two weeks" adverts too. The comparison to day trading gurus is bang on. It's just about appealing to people's laziness: the prospect that you can get a big reward without having to put in the work everyone else does.

[@gibbogle]

What you said about people who would rather gamble in day-trading to make $20k a year instead of getting a job, reminded me that it is amazing how much trouble and risk small-time criminals take to earn a measly income (the specific example, from next door, was people breaking into an empty house, due to be demolished, to steal some copper pipes - and getting caught), instead of having a job. The payoff must be emotional, because it sure isn't monetary.

[@DivestedChristian]

Never thought of this! Screenshotting!

[@jonnelson9760]

I think that at least some of these people can’t deal with the boredom from a regular job.

[@Lemma01]

​@@jonnelson9760 Yes. That's exactly why I steal.

[@hansjuker8296]

Well, having a job is what "whitey do."

[@markcrisp07]

If you day trade.. Maybe do it until you get to $200,000. Then invest longer term.

[@liasisboa]

PB has one of the most educational and entertaining channels around!

[@BobJones-gn2tr]

Just came across this. I see 2 yrs back Patrick allowed himself to crack a smile.

[@FYPNLP]

I know! I was actually shocked! 😳

[@alejandrogiha7583]

The ressesion effect

[@GaryGoals]

It’s because this is before he got saddened by the world of rap.

[@alantheinquirer7658]

Regarding the talk of running an online shop on Amazon to "get rich" (0:42:00). I ran a real shop, on a busy high street in the UK *as well as* an online store, though not on Amazon etc. This week we've had to close due to the current economic climate, and going into semi-retirement. The amount of people who ask if we're "going to sell it online now?" As if it's easy money and free to sell our own products 'online'. I then explain to them that we've always sold our stuff online, this is the first year we've run at a loss since we've been 12 years in business and that if we made a loss with online sales *as well as* an over-the-counter trade, how will we make more money taking that counter trade away? Bottom line is to make money, you have to create it. It takes knowledge, experience and hard work. And if watching some random dude, flexing his wealth on You Tube, is learning and research to you then you won't make millions!

[@jeremiahalejandro9834]

This was great content. Being a successful trader requires you to develop your own system, not pay for someone else's.

[@panzervalkyrie9299]

Agreed you need an area of specialization that gives a competitive advantage. Mine was trading industrial metal commodities.

[@Jennel8116]

What a powerful point - if they were successful, why would they share? Here we are all raised with "sharing is caring". And my goodness is that burnt into some of us to a fault

[@davidglover7870]

The sense of humor on his channel is what led me to stay a while ago didn't know he did this!

[@isadvery]

This guy is absolute gold. Dry, UK humor. Knowledgable. Honest. Zero sales pitches. Just good.

[@Jinsun202]

He's from Ireland, not the UK.

[@lukelacey101]

A collective eye-roll from the Irish :P @@Jinsun202

[@AB-ee5tb]

@@Jinsun202he just said uk humor

[@AMERICANPSYCHO73]

I've been following Patrick Boyle's channel from his beginning, and he's an EXCELLENT resource for learning the truth about trading/Wall Street topics we've all heard but don't fully understand. He offers the plain truth without hyperbole, without an underlying agenda and without Lamborghinis in the background.... just the facts.

[@thomasgaudette7367]

The best thing about Patrick's channels videos are thier timeless nature.

[@KaysnThomas]

Good work. As someone who has been running an asset management firm the last decade the YT needs more of this.

[@MajinXarris]

What I learned from years of playing and learning poker is that whenever there is conflict of interest there's never an ounce of valuable information shared between the two parties. It's basically a war of information and knowledge. Nobody in this world of four dimensions will ever share that with his competition.

[@denisl2760]

Exactly. Being rich is relative. If you have a billion dollars, then everyone else gets a billion dollars overnight, you are no longer rich, you're just a poor shmuck just like everyone else. So if you know a secret way to make alot of money quickly and easily, its in your best intetest to keep it secret.

[@jameslingle4275]

After 27 years of playing casino poker and 37 years of trying to trade the stock market your comment is, in my opinion, 99% accurate. I think there is some information that slips out here and there that is accurate. Sometimes by accident, usually due to ego. I am slightly behind thru the years in my attempts to make an easy living. I do know some professional poker players. Obviously there are some professional traders. I am neither. Doesn’t mean I will stop trying.

[@MajinXarris]

@@jameslingle4275 Hi James, I appreciate your valuable insight on my comment. 37 years is no joke! Cheers mate 💪

[@putinski666]

I'm replying 2 years later but this is one of the best nuggets of wisdom I've seen especially in the form of a KZbin comment. This is the kind of thinking that will keep you from getting ripped off in any way.

[@MajinXarris]

@@putinski666 After reading my comment from two years ago I can relate to it even more with all the craziness that had engulfed our world.

[@example5237]

Woah, This is really good, Having someone knows what the hell their doing on this channel is so refreshing.

[@thatonecarlbs4406]

I am a professional trader and I can confirm that this man is spitting facts. I will say one thing though. I am a swing trader and with the way I do things I do not need to spend much time on actual trading. I spend about 15 minutes per day opening/closing/managing my trades and the rest of the day I can just do whatever. You do not have this luxury with day trading which is why I think that smaller timeframes are a waste of time.

[@westplace2001]

What was your performance last year?

[@dragonflydreamer7658]

His performance, he blew up his account 2 years ago.

[@KaldekBoch]

Three years in, as a subscriber of both channels this finally came up in my feed. Great video.

[@alterSchwede46]

Finally, some real talk. Hopefully this will discourage some of the tiktok kids from giving their daddy's cash to lambo flashing con artists.

[@SprayNpreyT]

Making the spreadsheet that Mr.Boyle says is so simple and useful, must first step before investing

[@Jaysan-tq4li]

BRUH!!! FROM BOTTOM OF MY HEART THANK YOU FOR THE EXPENSIVE INFORMATION. LOVE FROM GUJARAT INDIA.

[@dimleaf]

Coffezilla & Palomar, I was going to put away my game developing career to try to become a day trader in the next few days after reading a good book about it. You've not only convinced me not to by telling me the truth but have made me very comfortable and certain in that decision. It means a lot to me, thank you so much. Amazing interview, Coffee you are a great listener and very good at this.

[@octavianskies]

Internet needs so much more of these chats. Thank you!

[@jeskaaable]

Patrick Boyle is a boss of Finance, the man is well-versed and anyone should listen to him with the utmost attention.

[@avdo9297]

Nice to see Tyson Fury expanding his talents into other fields

[@johnnycolon3208]

It's also nice to see that his new diet is going well for him

[@calmingnature2831]

😂😂😂😂😂dem

[@kronickintrovert]

@@johnnycolon3208 a little too well lol

[@Michael-Kaiser-]

100%. yea Gypsy King is very versatile..

[@boleslawkrzywousty7945]

Johnny Colon oh my

[@relentless3727]

This has to be the most important conversation I have ever heard!

[@alexo9861]

You can tell Patrick is a smart badass just by his punchy humour. 💪

[@kangarookristofer]

I couldn't recommend Patrick's videos enough, they're fantastic and funny.

[@darenYT1]

His sense of humor is fantastic.

[@samuelhelderman]

He’s got 49,000 subs now! I loved this interview.

[@guidobaldessari]

I love Patrick Boyle's straight face jokes. They crack me every single time. No face expression, no change in the tone of voice, but the joke is always hilarious 😂

[@pandora8478]

Poker face!

[@imaginaryguide1895]

I always thought the dry wit was a bit of a bit, but it's fun to see him here laughing at his own jokes and being a extemporaneous. Nice to know that the humour in his videos has organic roots.

[@TechnoPhoenix]

I believe everything in this video since Jason Statham said it himself.

[@JuancoPRoFlow]

🤣🤣🤣

[@blindedby2monkeys]

don't insult patton oswalt like that.

[@trader.wannabe1667]

LOL

[@SitDownwith]

😂

[@jerrodtham]

Skinny Jason Statham 😂😂😂

[@Viewer13128]

1) Good to know he does short term trading. Btw, making fun of the day trading advertising aside, the guy basically confirms day trading, as that is how he started, from books and self-study. The problem is he discovered a highly inefficient method of day trading. A profitable method, yes. But he argues all methods are equally inefficient. 2) He confirms that technical analysis works, which is the main argument against day trading. 2b) In fact, based on his (secretive) explanation, he does not use news, only quantitative analysis. (He debunks another counter argument against retail day trading). 3) He was referring to investors with his examples in the first few minutes of the video (also later). 4) One reason why a trader would sell (not share) their non-scalable strategies is because selling to the naive masses earns you way more with way less effort. 4a) For the same reason as (3), this makes it possible for *fake traders* to sell courses, as it requires little effort--just explain, no trading. 4b) The reason they spend money on ads to give it away is because they have transitioned from trading to business/commerce, and it is profitable to spend money on ads, because it generates much greater profit. *Ofc, "transition" would not be the word to use if the seller was never a trader to begin with.* 5) 11:53 Here he confirms that books dating back centuries still work. He also confirms that the pump and dump still works. 5a) This kind of contradicts his point that once a strategy comes to light, it expires. Ofc, he was mainly referring to his type of strategies. 6) Correct, there are fake gurus. I have seen many inefficient strategies on KZbin. He spends too much time talking about *obvious* fake gurus. The only reason we need him on is to talk about the gurus that seem legit, but he considers fake. He is unable to talk about anyone other than clear-as-day fake gurus that anyone can spot a mile away. *In fact, I may have missed it, but I only notice Coffee talking about Tim Sykes. I do not notice Patrick ever saying whether Tim Sykes was fake or not, only that patrick joked about gurus putting ads to tell ppl they'll teach them. he didn't expose any of tim sykes methods at all. in fact, he even confirmed the pump and dump.* Patrick calls out the names of the obvious gurus, but he avoids talking about other names. so, we know Patrick has no problem calling out names he is certain of, but why does he laugh off the other names Coffee mention? feels like he just came on to play along, even when he's uncertain. 6b) What is looks like to me is that some of these gurus, Patrick cannot tell for sure. He can only say they don't have public records, why would they sell a scalable strategy? etc. No matter what Coffee asks, Patrick never talks about their trading method. 7) He says 10-20% per year is normal for day trading, if things go smoothly. 8) He talked about his connections to brokers to reduce his trading fees to make his day trading possible. The way he explains it makes me feel like he scalps, or maybe he just hates fees. 9) If he found candlestick patterns that were *consistent* the opposite of what the books he read claimed, how is that "worse than random"? He basically said he found consistent candlestick patterns... 9b) He omits what timeframe he was studying the candlesticks on, and what context they were applied in. 10) His trading strategy was developed by himself. He had no formal education in trading and admitted he was clueless about the markets. The short-term strategies he uses are merely one way to trade the market, and is not the go-to method for all traders. 10a) He is an entrepreneur, fund manager, academic, and author. His trading method is merely some patterns he found that works enough to be profitable. The main difference is that he chose to start a hedge fund and write books instead of selling courses on KZbin. His strategy is not the ideal trading strategy. 10b) His perspective on day trading is limited to what he discovered about trading by himself, and how successful his acquaintances are. 10c) He refers to "investors" too much when talking about returns. 11) The vibe I feel from Patrick Boyle is very similar to the vibe I feel from NNFX. 11a) They both are profitable traders, but both are limited in their perspectives of what works. NNFX claims many things do not work, just because his indicator system works. Patrick knows other many things work, but tries not to mention what works and talks about when those don't work instead. 11b) NNFX managed to find a consistent method with an indicator system, whereas Patrick managed to find a consistent method with quantitative analysis 11c) NNFX keeps his system a secret, and so does Patrick. 11d) However, neither of their methods are the most profitable trading methods. However, they both talk like how much a trader can make is how much their method can make. 12) The main reason why Patrick recommeds against someone with $100K day trade is based on the fact that statistics show most people fail. Patrick does not discredit anywhere in the video that the 2-15% of successful traders are real. He is only telling you not to day trade based on probability, since probability indicates the majority would lose their $100K. 12b) To turn this around to promote day trading, simply don't risk your $100K until you have an expert level understanding of the market. Again, remember, Patrick did a good job to find a profitable trading method, but at the end of the day, he is a normal guy who knew nothing about the markets, who managed to self-study and discover methods that works. He built his foundation from trading books, etc. His rise to expertise is not much different to a retail trader. The only difference is that he is an entrepreneur and he started a hedge fund, and he writes books and doesn't sell his methods. Basically, this video just tells you that day trading is real, but the majority of day traders fail. Patrick did not want to go in-depth about actual (Fake) Guru trading techniques, the analysis they teach on KZbin, etc. at all. He only mentions blatantly ridiculous teachings that even a newbie can see is fake. Despite this video supposedly being about trading gurus on KZbin Patrick shied away from talking about the KZbin strategies prevalent on KZbin. He only talks about clearly stupid strategies, but he refuses to talk about the prevalent strategies like price action, support and resistance, news catalyst penny stocks, gap trades, fibonacci, trendlines, elliott wave, stop hunts, indicator systems, etc. Coffee even tried to lead him to talk about it more, but he would rather specifically talk about bad books on candlestick patterns, critiquing the book, but never saying that trading patterns don't work (just that the book didn't work). The title claims "The Truth", but what I see here is someone like NNFX, who came here to feel good about himself. He doesn't share his strategy, which is fine. But to not touch on the most commonly taught trading strategies on KZbin, to only mention clear-as-day fake gurus that anyone can spot a mile away... *Why the heck did we need him on then? If he doesn't talk about the prevalent Guru strategies currently everywhere on KZbin at all?* I can say he gave some insightful information, but it only deserves to be a 10 minute video. For an hour long video, the value of this video is pretty much the same as a KZbin Guru's trading video, ironically. *I came here thinking I'd learn "The Truth" about Trading Gurus, but what I got for the ridiculous time I invested was significantly less.* Coffee, you got me scammed. The value I received was only worth 10 minutes tops.

[@Viewer13128]

I want to add that I feel like Patrick Boyle reached out to Coffee to get free publicity. He was a finance grad and worked as a Portfolio Manager at RBS, which do not have anything to do with day trading. What I see is a retail trader who started Palomar Fund, as opposed to a retail trader who started a course. This ofc gives him more credibility, to a degree that he would not go into "fake guru" territory by default. But if you go to his website, read his bio, listen to this interview, he's basically a retail trader that managed to find recurring patterns using quantitative analysis. Ofc, his business and finance degrees could be real, and he could have been a university professor of finance, worked as a portfolio manager, etc. But none of that has to do with day trading. There are people with finance backgrounds that try learning trading, and end up using EAs without even knowing how to trade in the end. Finance and portfolio managers just decorate the resume, but they don't prove anything in regard to day trading. *His day trading resume (as far as I am aware) is literally studying the market and reading books by himself, which is a retail trader.* I believe Coffee got used for free advertisement. Rather than a course, it's advertisement for his books, KZbin channel, and hedge fund. Also, his approach to trading is likely narrow. It is akin to a math or programming grad's approach to trading. His findings do not account for the other approaches to trading. Again, this may be why he was unable to speak on any of the prevalent KZbin strategies, due to his expertise not falling into those areas. he is basically a retail trader who found a working strategy, but is limited to that. However, his strategy appears to earn him 10-20% max per year, which is underwhelming. I believe he also said it can fluctuate... poorly. I can see why he would want free advertisement. For an entire hour, what I learned was not what the title claimed, but that he was a fund manager of Palomar Capital, that we should watch his KZbin videos, and that he also sells books. I feel like his fancy resume and his willingness to play along with Coffee's narrative totally got Coffee lowering his standards for him. Coffee reacts to him like God has spoken the truth, no matter what he says. And when he says something Coffee has said before, Coffee is so overjoyed he's certain this guest gave 100% promised content. Well, as I said, I found the information only worth 10 minutes max, but i paid 1 hour and totally did not get what i thought i was getting. sounds pretty much like what typical gurus give. and ofc, this is a free KZbin video, but they have paid content behind it. If anything, this guy just proves there are various ways to approach day trading, and he is actually living proof you can go day trade just from reading trading books and learning the market yourself. ofc, his results are a bit underwhelming. i would expect at least a 1-2% monthly return, up to 10 or 20%, from short-term trading. But nonetheless, he actually shows you can learn to day trade from scratch. Just study hard. Not necessarily even study right, but hard enough to be profitable.

[@Viewer13128]

One more thing. He was gaining 10 subscribers per day. He does this video with Coffee, and leaves a comment with his KZbin account, which links to his channel. It shows as top comment with a heart from Coffee too. After this interview, he has almost 100% increase in subscriber count. I feel like Coffee, as well as thousands of his subscribers, fell for it.

[@kin.ovi.]

@@Viewer13128 agree totally

[@one1blue]

Oooooh. I love it when a gem I missed hits my recommended. I love both these channels.

[@BreakingJP83]

This is actually one of your most brilliant interviews. The guy was like a walking golden nugget. Sincerely, an underrated joker

[@Stefanoz_]

wish you had this channel 10 or more years ago, would have saved my 20 self a lot of time and frustration

[@tonightsbiggestloser4163]

Huge props to Patrick Boyle for doing this. Also, great reading list!

[@localcolour]

Three years ago but these hasn't aged! So many wise insights, e.g 'We all have these faults. We all have urges to do things differently -- and they often harm us.' Brilliant when so much social media pumps the opposite unqualified speculation and 'alternative' opinion.

[@prm1394]

Excellent show, So true successful trading is a grind and a LOT of homework.(Read books, test systems, get up early and scope out the foreign markets, read business news, government reports, etc, etc. Great show !

[@lillyrose6568]

Such a great video! This is what so many people need to hear. I can also confirm that as a blackjack dealer, the number of times people "went with their gut" was unbelievable. They loved to point out when they were right, but blamed the cards or the other players or me when they got it wrong. Ridiculous.

[@PBoyle]

It is truly amazing.

[@notheotherklaus]

This was a wonderful interview! Thanks. Boyle is a favorite, and you brought out the best in him.

[@TheTwilightBong]

It's really amazing that when we hear an honest person talking, like Patrick, he sounds honest, he even looks honest. When we hear a scammer talking, he just sounds (and often looks) like a scammer.

[@somedude1295]

Finally someone on youtube I can learn from without course selling bs and easy win strategy. The over saturation of scamlike information online make it really hard to find proper financial education. Edit: Plain bagel is one of my favorite KZbinr

[@Local.Motion]

As a Patrick Boyle subscriber, his content is great. Sven Carlin is also another good one.

[@Deutscheautoparts]

Amazing interview...Killing it

[@jamesfahy3963]

Refreshing , straightforward, humorous, and most of all ,honest irishman.

[@hassaannoor]

Thanks. You saved years of my life which I was gonna waste on researching this stupidity. 57 Minutes well spent.

[@pedroribeiro7594]

U dont know what ur saying...u need to EXPERIENCE IT yourself and see what it really is and how it works...thats why most fail...they want to be spoon feed. Trading is not hard...u need brain, WiFi, a laptop and keep things Simple and follow Ur plan.

[@hassaannoor]

@@pedroribeiro7594 Yeah, trading in not hard. You seem like a course seller to me. Keeping things simple. Really? Do you really a think a simple MACD or RSI is gonna make you a billionaire? And what really is a plan when you don't consider black swans. The only way right here is to do long term investing not stupid day trading. Day trading is only profitable for those high speed trading computers using all types of tactics like sentiment analysis and news scraping at the speed no human can ever do.

[@Moon-ob7lb]

@@hassaannoor uor on the right track. The only rational investment individuals can have is a total world market cap index fund. Like Vanguards VT. Basically purchase a piece of the worlds economy

[@hassaannoor]

@@Moon-ob7lb Exactly

[@hassaannoor]

@Gorden Gecko Hahaha, okay my love. Do tell me when you come out successful in the long run.

[@paoloottimo6358]

hahaha this guy's sense of humor is on another level! And what a brilliant mind!

[@LeoMumford]

Scamers ignore risk. THIS is how you identify whose genuine and who isn't. Ps Really enjoyed the interview!

[@Andrew-bb6it]

Hello mates please do not be deceived by this fake people out there.I got scam twice before now,as a beginner it’s not really easy to know the right broker,until I met this man in the store 🏬 when he was talking to a student I head him talking about forex which got my attention to him,I told him my story and he asked me if I’m still interested again which I told him yes. and he started helping me,now at least I am not the best but I am really making a huge profit as I invest,if you are interested please contact him now. he is very honest and trustworthy,contact him now at ([e-mail])Stay safe all of you

[@papagiorgio2493]

This is key, I like the video but he’s discouraging, to be a good trader take a long time and you must have a controlled risk every Time you enter a trade. Just believe and study hard

[@cob4754]

Great vid! Nice to see now, 4 years later, that he has 783k subscribers vs 5k mentioned when he did this podcast

[@dirigodave7801]

I’ve been trading for 3 years, every single day and I’m just starting to feel confident. You have to completely immerse yourself in trading.

[@mgishustling3752]

Are you trading full time? And what do you trade?(stocks,fx,options...)

[@jeffreyhuang3814]

17:29 BBB score: F Customer complaints: 151 Average customer review stars: 1.27/5

[@Pe6ek]

"I have a bit of expertise... I have written a book actually." I love it.

[@-OnTheRun-]

yes, but he IS selling his book :P

[@FishKev]

@@-OnTheRun- I’m sure he is to people who actually want to learn how to trade

[@-OnTheRun-]

@@FishKev Don't be so naive, its rehashed garbage he read from other books, who also cant trade so they write books. If you can trade, you trade, he's no different from the other book peddlers littering the internet. But our boy coffee nominates him and not others as legit :P gimme a break man. paid promotion.

[@afabuloussentientbeing8112]

@@-OnTheRun- He's literally a Hedge Fund manager...

[@OS-yg9fr]

@@afabuloussentientbeing8112 ...so good he needs to sell a book on youtube? lel

[@TheDivineScience]

It's 2024, but I really needed to see this. What a BLAST of fresh air !!! 👍

[@arcanecrisis]

Patrick is a breath of fresh air when all you see on KZbin is "The Money GPS" and "Michael invests and tries to make money". If i hear them say "LOOK AT THIS EVERYONE" before reading off an article title and acting as if they are providing any kind of constructive input. aside from fear mongering. Patrick on the other hand gives you at least 3 figures I the first breath of any video he puts out. truly amazing content.

[@alcovefib]

I'm 38 minutes into this video and apart from hearing some great information I've only seen 1 advert. Great job!

[@clintrichardsonclintfromny203]

Patrick Boyle's insight and humor was refreshing and informative.

[@DalePatch]

KZbin just recommended this 2 year old video. It's got both my favorite KZbinrs.

[@epicwolf]

I only invest in index funds from my IRA because I am smart enough to know what I dont know. I set it and forget it because its for my retirement and I dont wake up every morning watching the stocks. I just check the account today and it seems like I am going to be very well set when I become 62. I am 40 now.

[@WitchLuw]

Try swing trading Months Years just depends

[@petitio_principii]

I've once heard the second hand account that a statistics or math teacher somewhere does this funny demonstration in class, asking half the students to flip a coin N times and take note if it was heads or tails, and another half of them to just fake it, not flipping a coin, making up a sequence of N heads-or-tails. Then she goes and with surprising accuracy tells which were faked and which had real coin-flipping. That's based ironically on the real coin flips having more of a few weirdly larger strings of one side only of the coin, rather than a more homogeneous alternation of heads and tails, that fakers (well, anyone really) tend to intuitively assume to be realistic.

[@fahadh5548]

Criminally underrated channel

[@blairhakamies4132]

Great again. Congratulations PB. Well done

[@banglacowbanglacow3340]

Excellent nuggets to get people started. One video cannot make one rich. It’s really the journey. And we have to contend that we would be mediocre forever and there is nothing wrong with that.

[@tanveerhasan2382]

True true

[@lacichauche6344]

Most traders will lose regardless of what methods they employ. Even if they know how to trade successfully based on current conditions,most traders would still lose over the long run..

[@solemlyn149]

Most of these traders tend to lose money because they repeatedly make ordinary trading errors which can be averted if there is presence of good guidance to aid understand the foundation of trading

[@jacksondougan476]

Totally correct,i was losing trades and money in the process of self trading till i re-strategize and started through a skilled entity. I no longer lose trades neither do i have to work 12-5 since i bank on the service of a trading expert to secure my financial position and earn massively overtime

[@laisonherberts6107]

A lot of factors can draw attention to the loss of trades and money but inadequate time and low risk management happens to be the most frequent factor

[@camillepaula4759]

@@jacksondougan476 Hello,how do i find such details as skilled entity? i know it is essential and people keep saying be cautious about the market but no one provides the insight of obtaining profits

[@sandrapeter1097]

Successful trading is just trading with a professional that trades with the right strategies

[@kylepugh9437]

I’m so glad I’ve come across your channel & specifically this video, I’ve now subscribed to Mr Patrick Boyle’s channel too! I was shown the world of trading early this year and was immediately drawn in by the “huge returns” but the more I’ve delved into this topic I’ve learnt it’s not possible to get rich over night or make these audacious claims of huge returns, now my focus is learning as much about finance as a whole and being better with my money and as part of that is investing rather than trading! I just want to be better with my money and side not in quite a curious person so learning about finance and the economy is really interesting for me! Knowing how things work etc!! Anyways Thankyou for the videos!! Keep it up you both deserve way more subs than a lot of these channels out there!!

[@deano6912]

Ironically one of the ads on this video was some guy selling trading software boasting how he was having breakfast at the House of Dior. Exactly how your guest described it. Great video btw.

[@sethawarren]

Broooo you even linked the books! Thank you! Coffeezilla is the best channel I've ever discovered. I will swallow my pride and admit I've seen you uncover more than one youtuber's pile of BS that at one time or another had caught my eye a bit.