Assertion Not checkable as stated
Just: PEAK6 employs more female capital allocators than any other firm
“I think peak six has done a really good job of bringing, you know, a wide range. Including a lot of females, more than anybody else in the market in terms of capital allocators. People are actually making decisions around money.”
Assertion Not checkable as stated
Just: PEAK6 has not had a single losing year in 28 years
“And, you know, we've had 28 years, never had a losing year.”
Assertion Not checkable as stated
Just: PEAK6 rejected an equity derivatives deal with Jamie Dimon in 1999
“I said no to Jamie Dimon. So we were, we had a plan A, and it's 28 years later, we've never done our plan A. We were trying to get a bank to be our partner to do over-the-counter equity derivatives. That was what we were, that's what we left to go do. That's w…”
Insight
Just: Professional traders lose money on roughly 45 percent of trades
“Starting in trading. Is really humbling. We lose. 40 five percent of the time.”
Insight
Just: Risk-taking is a learned skill, not an innate personality trait
“As much as I look like I take a lot of risk. Nobody would have called me a risk taker when I was younger. You can actually learn it.”
Insight
Just: Poker offers the best accessible simulation of options trading risk
“When I saw poker, it was the closest thing I've seen to the training I got as an options trader, right? Because people aren't just going to become options traders. First of all, there's not that many in the world, men or women, and I'm going to go study option…”
Insight
Just: Traders must amortize windfall years over a three-year timeframe
“We tell our traders too, when you have that great year, think about it over a three year timeframe. Don't think about it as today's money, right? We don't want, because traders can be like athletes in many ways, way too much money at too young of an age.”
Disclosure
Just: PEAK6 held a $13B valuation investment that went to zero
“I mean, you know, we've had some serious investments that have been Really big valuations that have gone to zero. Like we're talking, thirteen billion, a zero.”
Assertion Not checkable as stated
Just: PEAK6 built an options trading system using retail inventory models
“It was Walgreens. It was Walmart. Like we created an inventory management system for options trading. And nobody had talked about that before. We literally had off the shelf models where everybody was like the smartest people were using, were creating the best…”
Insight
Just: Ignoring downside risk or past failures is a definite red flag
“I think that they have to be aggressive on the offensive opportunity. They do. But if they can't address anything defensively and or they cannot they have not shown where they have failed in the past or acknowledgement of failure in some form or fashion, wheth…”
What-if
Just: Learning poker earlier would have saved ten years of career mistakes
“And I also say, like, if I could have learned poker when I was younger, I think I would have saved 10 years out of mistakes in my career.”
Disclosure
Just: Largest personal trading loss was tens of millions in seconds
“Tens of millions of dollars. In, in seconds, right? It's not even, you know, a whole day.”
Disclosure
Just: PEAK6 trades options on 3,000 to 4,000 public companies daily
“We're active in three to 4000 public company names in their option, in their options. Every single day. So we have a very, a broad, really broad portfolio.”
Assertion Not checkable as stated
Just: Poker Power has taught strategy at 370 companies globally
“Today, now we've taught over 300, I think it's like 370 companies 60 countries”
Assertion Partly supported
Just: Former PEAK6 data staff worked on five recent Stanley Cup finalists
“I think the last 12 Stanley Cups, five were either one, I think four, and then one was second place you know, whatever, runner up, whatever you call them, loser. But We're ex-Peak-Six data people. Well, they're data people for the hockey teams, but yeah, ex-Pe…”
Insight
Just: Traders must mark to market daily and exit unviable positions
“You know, the one thing as a trader you do, you go home at night, you mark to market everything. If I had to start tomorrow, would I do exactly what I'm doing today? And if I didn't, and if I shouldn't, and I should pivot, I gotta get out. I gotta get out of t…”
Disclosure
Just: Jenny Just keeps a physical list of failed investments on her desk
“Like I just keep my fails on my desk, you know, just the list.”
Assertion Partly supported
Just: PEAK6 has built two multi-billion dollar businesses
“So we've created two billion dollar 1,000,000,002 multi-billion dollar businesses.”
Insight
Just: Effective negotiation requires multi-level game theory thinking
“So if you're just thinking about your cards, They might get lucky. You have to be thinking about the other cards at the table. Then you have to think about what they're thinking about your cards, right?”
