Lessons From the Fall of Lehman

Remember that scene in The Dark Knight where The Joker sets fire to a massive pile of cash?

Ateet Ahluwalia saw the same thing happen to his Wall Street heroes when Lehman Brothers fell.

It was a shocking experience, but it taught him an enduring lesson:

"I realized that my judgment is the only one that matters for a particular trade idea because everyone's fallible, and to some degree or another, we're all groping in the dark. That was seared onto my prefrontal cortex forever and ever. I had to do the work"

Full episode: https://www.youtube.com/watch?v=s5mcDlFNUJI