Why Smart People Take Dumb Money Risks

A 24-year-old hedge fund manager said he had more "situational awareness" than anyone on Wall Street. Then his leveraged bets on memory chipmakers blew up, forcing a fire sale to Ken Griffin. Wall Street is pretty smart.

Ricky Mulvey and Malcolm Ethridge discuss:

- How Leopold Aschenbrenner's AI manifesto and multi-billion-dollar hedge fund imploded within months, and what it says about ego.

- South Korea's leveraged ETF boom, and what a 30% single-day swing in SK Hynix says about the stock market.

- What free solo climber Dean Potter's story (via HBO's The Dark Wizard) reveals about risk tolerance vs. risk capacity.

- Why AI chatbots are quietly rewriting the dating game, and what a Bloomberg story on "chat phishing" says about how people communicate now.

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Hosts: Ricky Mulvey, Malcolm Ethridge

Engineer: Tim Sparks

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