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Tom Hougaard

Trader

Sep 28, 2026

1:10
see that.
1:12
Sorry, everybody.
1:13
I'm actually sat in my bed with my laptop.
1:17
It perhaps doesn't look very professional, but I just finished trading the US markets.
1:24
I don't know about you, but whenever I trade...
1:29
I trade with such intensity.

16 MINS LATER

17:58
really, really
2:30
Any thoughts on it?
2:32
Yeah, I do.
2:33
And first of all, uh, thank you for the invitation, and also thank you for the invitation of, of bringing me back to Los Angeles and, and congratulations on your book.
2:44
That's a, that's a huge, huge milestone in your life.
2:47
It's, uh, something you're gonna look back upon and with a sense of pride, but perhaps also with a sense of, "Oh damn, I have to...
3:00
I may have to follow up on that." That's the, that's the feeling I keep, I, I keep reliving and that is, yeah, but I didn't get everything off my chest at the time, and now it's a few years later and I, I keep reflecting on the things I said and wondering could I have said it better.
3:18
Uh, so I think there's also a curse to writing a book, as beautiful as it, it is, um, to share with fellow traders and colleagues your experiences, m- but it's, uh, it's a project that will never end.

19 MINS LATER

22:34
So, like, how important and what kind of emphasis do you have, like, on risk management? Like, what's your take on risk management?
1:28
Uh [laughs]
1:28
I, I, I mean, i- is it a...
1:31
I...
1:31
You told me the story.
1:32
I don't know if it's something you're gonna edit out, but when I heard that story, it, it told me a lot about who you were as a person, and I really admired [laughs] that because it was the craziest thing I think I've ever heard in the context of analysis of a stock.

15 MINS LATER

17:15
... wild one
17:16
... crazy story.
17:18
You know, you remind me of these two investigative reporters, uh, from the Washington Post, was it, uh, Wood- Woodward and, and Bernstein? You know, the, the ones that uncovered the Watergate scandal, you know?

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