Join us as we delve into the captivating world of Wall Street's most unexpected profits. In this episode, we interview Scott Patterson, acclaimed Wall Street Journal reporter and author of the fascinating book, Chaos Kings: How Traders Make Billions in the New Age of Crisis.Drawing upon his extensive research and insider knowledge, Scott reveals the secrets of how traders manage to transform unprecedented events, such as the 'Black Swan' and  'Dragon King' phenomena into extraordinary profit-making opportunities.One faction, led by Nassim Nicholas Taleb, bestselling author of The Black Swan, believes humans can never see the big disaster coming. In their view, while inevitable, extreme events-so-called Black Swans-will always catch us by surprise. In 2007, Taleb's longtime collaborator, Mark Spitznagel, launched the Universa hedge fund, which would make billions protecting investors against unforeseen chaos in the market.A second faction, which relies on complex formulas, believes looming chaos can be detected. Chief among these risk prognosticators is Didier Sornette, a colorful French mathematician who enjoys riding his motorcycle at speeds over 170 miles per hour. When Sornette looks out from what he calls his Financial Crisis Observatory in Zurich, Switzerland, what he sees are "Dragon Kings"-punishing events that are unlikely to occur but have probabilities that can be predicted...and defended against.Patterson reveals the intricate strategies employed by these traders, who possess an uncanny ability to navigate and capitalize on market upheavals. From analyzing the impact of unforeseen events to the psychology of risk-taking, he and James shed light on the inner workings of betting on high-stakes world events.Throughout the interview, we explore the thrilling stories and characters that make up the fabric of Wall Street's most profitable moments. Scott Patterson's journalistic expertise and intimate understanding of the financial landscape give listeners a unique perspective on the elusive world of traders who have mastered the art of profiting from chaos.-----------What to write and publish a book in 30 days? Go to JamesAltucherShow.com/writing to join James' writing intensive!What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book Skip the Line is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast.------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe  to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsStitcheriHeart RadioSpotifyFollow me on Social Media:YouTubeTwitterFacebook

------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all...

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