Maria’s Note: Maria Bonaventura here, Rogue Economics’ senior managing editor. I’m thrilled to welcome our new editor, Nomi Prins. Nomi is a best-selling author and financial journalist. But once, she was a Wall Street insider…
Nomi worked as a managing director at Goldman Sachs… ran the international analytics group as a senior managing director at Bear Stearns in London… and was a strategist at Lehman Brothers and an analyst at the Chase Manhattan Bank.
Over the next few weeks, Nomi will show you why she left her career as a global investment banker… and set out to demystify the world of money.
And, going forward, you’ll hear from Nomi and her team every day in these pages. They’ll shed light on the ways the elite few manipulate the financial system to serve their own interests, at the expense of everyone else.
And they’ll put you on the right side of a disconnect Nomi sees between the economy and the markets. Read on for today’s insights…
It’s not often that your experiences lead you to conclude that nothing will ever be the same.
But after a decade and a half working in the upper echelons of global investment banking…
Followed by two decades as an investigative journalist, best-selling author, and geo-political financial expert…
I’ve made the most important discovery of my life.
We are standing at the precipice of immutable change. And there’s money to be made because of that.
You see, the markets are no longer anchored to fundamentals. They are floating on a multitrillion-dollar cushion of central bank money.
As a result, they have become permanently disconnected from the real economy.
You’re going to hear a lot about that disconnect from my team and me in the coming months. That’s because we have one mission here…
To provide you with trading opportunities that arise from the epic disconnect between the markets and the real economy.
I will do this by harnessing my modeling capabilities, Wall Street experience, high-level contacts, and on-the-ground analysis of market and economic patterns…
…all to help you to grow your wealth in the months and years ahead.
But first, in today’s essay, let me tell you about myself – and why my background and skills can help you make money…
My First Fight Against Wall Street Greed
I got my start as an analyst at the Chase Manhattan Bank when I was just 19. Math always came naturally to me, even before I received my B.S. in mathematics at the same time.
My dad was a world-famous statistician. He taught me chess at age four, how to program computer code at nine, and how to access the 5,000 puzzle pieces strewn across the living room table in my mind, before setting about to complete the puzzle.
I learned how to see how things fit together before they did.
I rose quickly through the ranks at Chase, where I focused on the crazy world of foreign exchange trading and modelled some of the first options in banking.
While working on my Master of Science degree at NYU, I traveled frequently to London to demonstrate my findings to international clients.
From there, I took a position as a senior strategist at Lehman Brothers. I developed innovative portfolio analytics for major companies and central banks. And I was sent to discuss these strategies with central banks throughout Asia.
I was always looking ahead and always on the move.
Using that global experience, I went on to establish and run a 30-person analytics department at Bear Stearns London as a senior managing director.
My team was known for being ahead of the curve. We were first to incorporate credit and volatility into our investment ideas. That helped our clients weather the Asian crisis in 1997 and the Long-Term Capital Management crisis in 1998.
I proved I could create envelope-pushing strategies. And so, in 2000, Goldman Sachs recruited me to be a managing director at their global headquarters in New York.
I ran two teams there, including one that modeled the behavior of the unregulated credit derivatives market. I even attained a coveted corner office on the 29th floor. And I was raking in a seven-figure salary.
But Wall Street, not a bastion of morality to start with, was rapidly changing… for the worse.
I saw a growing gap between what Wall Street wanted for itself and what was good for its clients – some of which were major companies, but many of whom were average Main Street folks.
The point is, I was fighting losing battles against Wall Street greed. Then, something happened that altered my life’s trajectory.
Shedding Light on the Dark Side of Corporate America
My office was just blocks away from the World Trade Center. On 9/11, I was sitting at my desk, when United Airlines flight 175 passed right by my window. It was the second plane.
The days that unfolded were chaotic for us all. But here’s what stuck with me the most…
Hank Paulson, then-Goldman Sachs Chairman and CEO, left a message on our internal voicemail. He said the “people of Goldman Sachs” had a duty to return to their workplaces.
But I felt differently. Instead, I spent days at the 69th Regiment Armory on Lexington Avenue, helping people comb through lists of artifacts that belonged to their loved ones.
I realized life was too short to waste time.
Over the weeks that followed, I knew I had another calling… to shed light on the shadiness of Wall Street and corporate America.
Much to the chagrin of my mother, I quit. I gave up potential millions of dollars in compensation in order to freely tell the truth. And over the years, I have done just that.
I travel the world as an investigative financial reporter digging into facts and events. I speak at global conferences and symposiums. And I advise top elected officials on financial and economic matters.
Blowing the Whistle on Wall Street’s Shady Practices
Now, you’re likely wondering why I’m telling you this today – and what it has to do with the disconnect between the markets and the real economy I mentioned earlier.
You see, I once helped major firms on Wall Street make millions of dollars.
But now, what lies closest to my heart and mind is the ability and opportunity to share my knowledge and insight about what drives markets, the economy, and the financial system with ordinary people.
When I left Wall Street, I blew the whistle on its shady practices – on TV and radio… in front of audiences of students and politicians… and in speeches, articles, and books.
I decided to channel my true passion – writing – to let the public know what was going on.
Now, I’m channeling all my education and professional experience into actionable ideas to fortify your finances.
You see, the markets are in flux… Now more than ever before.
We’re facing unprecedented shifts in the relationship between the markets and the real economy. This will create volatility in the markets like we’ve never seen before.
But we’ve got you covered…
I’ve been modeling unique volatility-detecting strategies in the markets, and for specific asset classes, for decades.
Going forward, I’ll reveal more about why we are at the precipice of a once-in-a-century financial distortion.
And my team and I will provide you daily with ways to take advantage of this massive, unique opportunity to increase your wealth.
So stay tuned… I’ll be in touch again soon.
Editor, Inside Wall Street with Nomi Prins
Maria’s Note: Stay tuned for more from Nomi and her team over the next few days. They’ll show you ways to take advantage of the trends that will shape 2022, starting with tomorrow’s essay on crypto and the metaverse from contributing editor Laurynas Vegys. Laurynas has an extensive track record of investing in stocks, cryptocurrencies, and financial derivatives. He specializes in spotting megatrends in sectors like precious metals, mining, and tech. Look for Laurynas’ essay in your inbox at 12:30 p.m. ET tomorrow.
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