Why is it that sometimes, good people do “bad” things? This is a question that has been on my mind as late, and it’s also one that tees up this week’s episode. Tom Hardin, AKA “Tipper X” - the most important FBI informant in the largest insider trading case in decades - is my guest, and I am both grateful and delighted to have him on the show to share his story.
Tom is a former Wall Street executive – he was a junior partner at a hedge fund that specialised in the tech industry. Tom and his partners felt that they were falling short in a very competitive industry in which they also felt that some of their competitors were crossing an ethical line – that is, they were engaging in insider trading (which is of course illegal in the USA and most countries).
As you’ll hear from Tom, there came a moment when he decided to cross that same line. He made a few small, but illegal trades based on “Material Non Public Information” MNPI – that is, information that has not gone to the public and if used in a stock trade, can make the trader a lot of money. In Tom’s words, this was “taking some crumbs off the table.” No one gets hurt. Until….
One day while picking up his dry cleaning, Tom received a tap on the shoulder. It was the FBI. He was charged with a felony. As part of his arrangement with the authorities, he became “Tipper X” – the FBI’s most cooperative witness in Operation Perfect Hedge – the largest insider trading investigation in 25 years. Tom’s efforts led to 80 guilty pleas and convictions – including and eventually, of Raj Rajaratnum of the Galleon Group, one of the largest hedge funds in the world at the time.
Tom’s story is a cautionary tale. He wore a wire. He had to inform on some of his friends and former colleagues. His felony conviction meant he could not find employment in the career he chose, in spite of his education at the prestigious Wharton School.
However, it is also a tale of resilience. Tom now does speaking and training for compliance departments of hedge funds, the FBI and for business and law schools. He tapped into running and now runs ultra marathons. His story is also the subject of an upcoming documentary.
I found myself enthralled in my conversation with Tom. A reason for this is that several years ago, I almost breached a similar ethical line. I was fortunate not to have – but I can’t say it never would have happened. I think we all have the potential to inadvertently cause harm and do things we know we shouldn’t. Tom’s tale should give us all pause to think about why and how we might not do the right thing – and how to avoid that.
Show notes:
Tom’s website: www.tipperx.com
On Twitter: https://twitter.com/iamtipperx
On Facebook: https://www.facebook.com/iamtipperx
On Linkedin: https://www.linkedin.com/in/tom-hardin-0952324
Article in the Wall Street Journal “’Tipper X’ Hangs over Galleon” - http://www.wsj.com/articles/SB10001424052748703672104574654693200452698
Story on Tom’s sentencing in the New York Times: https://www.nytimes.com/2015/02/25/business/dealbook/onetime-mystery-informant-in-galleon-insider-trading-case-to-be-sentenced.html
The Galleon Group: https://en.wikipedia.org/wiki/Galleon_Group
Tom on the Rich Roll Podcast: https://www.richroll.com/podcast/tipperx/
Dan Ariely: www.danariely.com
Finding Ultra by Rich Roll
Eat and Run by Scott Jurek
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What does it take to set a world record for cycling the largest distance in one month? Meet this week’s guest, André Goeritz. André is an artist and an ultra endurance cyclist. Last year, he set the world record for the highest mileage cycled in one month – 6,679.8 miles or 10,750 kilometres. What goes into doing something like that and why would anyone attempt it? It’s not for the money (there isn’t any in this endeavour) or fame (apart from within the ultra cycling community).
As with my other conversations with people who have achieved something epic, this one is about much more than cycling. It’s really a deeper conversation about venturing into the unknown. André is a fascinating guy. He was born in Germany, grew up in the UK and has lived in the United States for the past several years. He has worked on a cruise shop, dabbled as a professional body builder and studied fine arts. His journey has been non-linear and along the way, he has overcome many challenges. In many ways, his world record-setting ride was a microcosm of how he approaches life.
In this conversation we get into:
This was a fabulous conversation that I am sure you will all enjoy!
Show notes:
André’s blog: http://andregoeritz.blogspot.co.uk/
André on Strava: https://www.strava.com/athletes/4823140
The HAMR (Highest Annual Mileage Record) 30 day record - http://www.ultracycling.com/wp_news/?p=1088
The 80/10/10 diet - https://www.amazon.co.uk/80-10-Diet-Balancing-Luscious/dp/1893831248/ref=sr_1_1?ie=UTF8&qid=1485120005&sr=8-1&keywords=80+10+10
The China Study - https://www.amazon.co.uk/China-Study-Comprehensive-Nutrition-Implications/dp/1932100660/ref=sr_1_1?ie=UTF8&qid=1485120030&sr=8-1&keywords=china+study
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What happens when the world of science fiction meets science fact, particularly human meeting machine? We are getting ever closer to such a world. This raises all kinds of interesting questions around the risks new technologies like genetic engineering pose, ethical and political issues, and even questions around what it means to be human. In fact, there is an entire movement dedicated to advancing the human condition through technology. It's called transhumanism, and we are going to hear more and more about it over the coming years. This week we take a look at this fascinating movement.
My guest this week is videographer and editor Ford Fischer. He is also the co-founder of an independent media site called www.news2share.com. Ford is embarking on a project to understand this movement from an independent, grass-roots perspective via a documentary called "Transhuman". You can find out more and support his indiegogo campaign here - http://news2share.com/start/2016/11/28/news2share-to-produce-transhuman-a-documentary/
We have an enthralling conversation that covers, among other things:
Show notes:
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Does it feel like the odds of achieving something aren't in your favour? Then forget the odds, and embrace the power of small victories. This in-betweenisode offers some perspectives on why and how.
Why is our first episode of 2017 part 2 of the “best” of 2016? Because as many of us are looking to make some changes, take some risks, or become more resilient, many of our 2016 conversations have featured some great insights and perspectives that can help. And as a side note and a tip on the practice of New Year’s resolutions: start small.
This episode is designed for you to dip in and out of as you see fit (although nothing wrong with listening to it in its entirety in one sitting!).
It features clips from the following episodes:
Ep. 1 with Master Tammy Parlour: http://www.allthingsrisk.co.uk/2016/01/24/the-all-things-risk-podcast-is-now-live/
Ep. 2 with Martian Cioana: http://www.allthingsrisk.co.uk/2016/02/02/the-all-things-risk-podcast-episode-2-with-ultra-endurance-cyclist-martian-cioana-is-now-live/
Ep. 3 with Laura Dal Farra: http://www.allthingsrisk.co.uk/2016/02/16/20160216ep-3-laura-dal-farra/
Ep. 5 with Tarran Kent-Hume: http://www.allthingsrisk.co.uk/2016/03/09/ep-5-tarran-kent-hume-kayaking-the-amazon-facing-fears-and-chasing-dreams/
Ep. 7 with Robert Earl Stewart: http://www.allthingsrisk.co.uk/2016/04/05/episode-7-robert-earl-stewart-writing-running-poetry-and-the-rise-and-fall-of-the-rpwa/
Ep. 9 with Luke Tyburski: http://www.allthingsrisk.co.uk/2016/04/27/ep-9-luke-tyburski-taking-risks-battling-depression-and-becoming-the-ultimate-triathlete/
Ep. 11 with Anna Glover: http://www.allthingsrisk.co.uk/2016/05/10/episode-11-ms-anna-glover-creativity-risk-the-performing-arts-and-how-to-let-your-path-find-you/
Ep. 15 with Faisal Hoque: http://www.allthingsrisk.co.uk/2016/07/06/episode-15-faisal-hoque-entrepreneurship-resilience-and-surviving-to-thrive/
Ep. 16 with Hayden Lee: http://www.allthingsrisk.co.uk/2016/07/06/ep-16-hayden-lee-travel-pure-uncertainty-and-near-death-stories/
Ep. 18 with Laura Bingham: http://www.allthingsrisk.co.uk/2016/07/30/ep-18-laura-bingham-cycling-across-south-america-with-no-money/
Ep. 19 with Hari Kalymnios: http://www.allthingsrisk.co.uk/2016/08/11/ep-19-hari-kalymnios-health-leadership-and-becoming-super-human/
Ep. 22 with Drew Taddia: http://www.allthingsrisk.co.uk/2016/09/13/ep-22-drew-taddia-professional-athlete-wellness-warrior/
Ep. 26 with Anke Herrmann: http://www.allthingsrisk.co.uk/2016/10/18/ep-26-anke-herrmann-going-walls-embracing-uncertainty-flamenco/
Ep. 27 with Jonathan Pritchard: http://www.allthingsrisk.co.uk/2016/11/01/ep-27-jonathan-pritchard/
Ep. 28 with Kayt Sukel: http://www.allthingsrisk.co.uk/2016/11/08/ep-28-kayt-sukel-art-risk/
Ep. 30 with Nicholas McCarthy: http://www.allthingsrisk.co.uk/2016/11/21/ep-30-nicholas-mccarthy-one-handed-concert/
Ep. 31 with Sean Douglas: http://www.allthingsrisk.co.uk/2016/11/29/ep-31-sean-douglas-rock-bottom-resilience-coach/
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Visit: www.allthingsrisk.co.uk – and find all episodes and ways to subscribe