CapTrader Interview: Herbert Thomas on stock market development and training
Options professional Herbert Thomas experienced the world's largest stock exchanges at first hand and worked for many different financial institutions himself. In the CapTrader interview, the stock market veteran talks about the development of the stock market, the license to steal, arbitrage, digitization, price discovery, settlement, market making, the NYSE, the CBOT, quote machines, correct timing in stock trading, options, serious differences between options and warrants, the life of different stocks, the investment pyramid, prop trading, regulation in Germany, retail investors, stock analysis and strategies, the trading journal, risk allocation, his most important learnings, an investor's toolbox and funny stories that took place on the trading floor.
▶️ Register now for the webinar with Herbert Thomas:
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00:00:00 Welcome
00:00:18 License to steal & Arbitrage opportunities
00:04:09 Stock exchange floor, now only a TV studio? The stock exchange then & now
00:05:44 Pricing & Settlement
00:07:14 New York trading floor earlier
00:08:10 Herbert Thomas Education at the International Trading Institute Chicago & the CBOT
00:09:59 Market making explained
00:11:57 Scenario: World without market makers
00:13:33 Market-Making today
00:15:10 When will the quota machines run reasonably?
00:15:40 Partyboat in New York & the right timing to close a position
00:17:18 Stock market nostalgia
00:19:01 The intrinsic life of a share and a feel for the price trend
00:21:30 Is progress good for the retail investor?
00:22:45 Overregulation in Germany?
00:23:47 Different equity cultures
00:25:05 Prop Trading
00:28:16 What doesn't the small investor do that he should do?
00:30:01 The investment pyramid
00:31:30 Stop orders and the execution guarantee
00:33:34 Option framework as a double floor for hedging
00:35:04 Risk allocation depending on age
00:36:41 Stock Analysis & Strategies in the Market
00:38:45 Options briefly explained
Options and warrants - significant differences
00:44:15 Webinar announcement & career path of Herbert Thomas
00:45:34 The most important learnings from Herbert Thomas
00:47:05 Keeping a conscientious trading journal
00:50:42 The toolbox of an investor
00:52:50 Anecdote from Herbert Thomas: Gummy bears & Beate Uhse
00:53:43 Farewell & Risk Warning
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