About this episode
Prefer to watch? Check out the full interview on video here: VIDEO - On the Couch with Gary Norden: Inside a 35-Year Trading CareerA bit of a different approach at Marcus Today; Callum Newman sits down with Gary Norden, a 35+ year pro trader (LIFFE floor, bank derivatives desks, hedge funds) and the author of An End to the Bull - to talk how the pros actually trade when it’s their own money on the line. In this conversation, Gary explains how professional traders really approach markets; building an edge through knowledge, skill and risk management - and why much of the “sell-side research” investors read is often just a sales tool dressed up as insight.We cover:The professional trader’s edge – skills, knowledge, and risk managementWhy bank research gets “taken with a pinch of salt”Day trading vs punting – order flow trading as a real craftCan humans still compete with algorithms/HFT?ETFs, concentration risk, and the “all in / all out” marketOptions – why Gary prefers buying options (hedging + asymmetric upside)Gold and silver – why the bull case may not be done yetChina, commodities, and what Gary sees on the groundStandout moments (timestamps):03:58 Why traders ignore sell-side research06:12 Day trading as a professional skill (order flow)11:56 AI, ETFs, and the concentration problem19:35 Options as portfolio “insurance”26:47 Gold vs silver, miners, and what to watch48:25 The red jacket story (and what it meant on the floor)Gary’s book: An End to the Bull: Cut Through the Noise to Develop a Sustainable Trading Career (John Wiley & Sons). ---Marcus Today – Daily Market InsightsMarcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.If you'd like to go further:Start a free 14-day trial of Marcus Todayhttp://bit.ly/mt-trial-podcastJoin Marcus TodayUse code MTPODCAST for 10% offhttp://bit.ly/mt-join-podcast-offerMT20 – Managed ETF PortfolioA professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.http://bit.ly/mt20-podcastPrinciples – How We Think About InvestingA short video series on timing, behaviour, and decision-making. No stock tips.http://bit.ly/mt-principles-podcast—DisclaimerThis podcast is general info
