SS 79 - The Big Hedge Fund Scam with James Altucher

After James Altucher lost millions in the stock market, he decided to learn everything he could about trading and the Wall Street industry. He became a professional trader and then left the business for good after he realized it was 'all a big scam'. James shares some of his personal stories as a fund manager, what he does for investing today, and much more on today's episode.    Key Takeaways: [4:35] James shares a bit of his life story.  [6:35] Wall Street is a scam and only three types of people really make money on Wall Street.  [9:45] James invests in micro caps in the stock market.  [12:23] Why do people still bother investing in Wall Street? James shares some of his personal stories.  [16:20] Jason read an article about how the average hedge fund investor doesn't make any money.  [22:58] Why don't more Wall Street crooks and criminals go to jail?  [30:30] James does intensive due diligence before he invests in a company.  [35:40] James shares his thoughts about the economy and the future.    Mentioned In This Episode: http://www.jamesaltucher.com   @JAltucher