This podcast episode, a rerun of a favorite show, explores the connection between day trading and gambling addiction through the story of Chris Garver. Chris initially engaged in sensible investing but transitioned to riskier strategies, experiencing a significant win followed by substantial losses that led him to accrue over £145,000 in debt across multiple credit cards, some opened without his wife's knowledge. His compulsion escalated to full-time trading after a layoff, impacting his personal life. After seeking help, he realized his day trading was a gambling addiction, despite not engaging in traditional forms of gambling. The episode also features Camelia Kunin, a finance professor, who discusses how trading apps and financial instruments like options can gamify the stock market, appealing to the brain's hardwiring for huge payoffs, and how average investors are often at a disadvantage against professional traders. Chris later founded Project Wellbeing to raise awareness about gambling addiction.
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