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Sosnoff also explains the relationship between volatility and risk. “In reality, when volatility goes up, the risk is less, not more… When volatility goes down, meaning when volatility contracts, the risk is greater,” adding. “It's the only true math equation in finance.” And today we are welcoming Tom Sozo, a man who has been at the entrepreneurial for run of trading for decades uh from institutional to retail.Uh these days, he is the Ceo of Tasty Live, which he also founded along with Tasty Trade and uh a ver a veritable me media mogul here.We're, we're recording this on the last day of September.Um But we didn't really get that contrib contribution from NVIDIA, the chip stocks and so the r the rally broadened.
So for example, you know, you think something is expensive or you think something's cheap because there is no way of actually defining expensive or cheap.So we measure everything on liquidity and levels of volatility.So the volatility, for example, on Amazon, on Intel, on NVIDIA relative to itself, meaning that is it high for that particular, that particular underlying?Essentially, I mean volatility indexes are roughly but volatility, the definition of volatility is expected move.
And then all of a sudden when, when, when people get excited about you because they, they come after you whatever it is.But when we, when we built Dickerson, we had four offers at the same time.So we built it in 1999 2009, we got our first offer and then there was, you know, there was four, about four offers and maybe five and tasty, there was five offers and that took 10 years too.We've seen just a tremendous change just in the dynamics of it.
Um The industry itself has, has grown leaps and bounds because one, we popularized, you know, derivatives and the cool thing about derivatives.There is no difference between trading stocks options or futures.They can include derivatives based on which our futures um contracts for difference contracts.
So big pro is speed um for some a big con is speed but also you don't have a human pilot with the um with electronic trading.Do we need any of the remnants from the old system or have we just demonstrated since the pandemic that we can be fully electronic now?I mean, this is, we do not need to go backwards one bit.
It's inexcusable today that the money that they spend more money on marketing, they spend on building technology.That's why we don't have any issues when there's, when there's a, when there's a tech problem in most other firms. What would you say to people who say retail traders who say well, I'm getting front run in my orders.Not even a retail customer on our platform fills an order in, you know, 20 just about 20 plus milliseconds.Uh, so you put, you put an order in and somebody steps in front of you and they run with your order in front of them.I mean, the average size of our orders are 3, 3.5 or four contracts or, you know, 200 shares of stock or one future.
Therefore, somebody that's been doing this their whole life like me and somebody that may have never even participated in markets before ever. It's almost like you can't control another car if it hits you type of thing, you know, there's certain things you can control and in life control what you can control and don't worry about the stuff you can't control.And if you keep your size small, which means it means a lot of different things to different people.
You can learn any, any way that you get engaged, like any way that you're able to engage in decision making. Uh and it's been around for, you know, you have accredited investors and then, well, a credit investors on that only with, with um uh non exchange with stuff that's often private, yeah, private offerings and stuff like that.
I would say probably, you know, if you want to pick a specific thing, I would say probably gold, gold and all the precious metals seem rich to me.Um, but um, also some of the A I socks seem really rich to me.You have an event, you have an event coming up and you're also traveling.
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