"How to invest your first $1,000 in 2024!" - Eric Pan of Ericnomics

Hey everyone! Welcome back to another episode of Wealth Busters! Today, we hang out with Eric Pan, better known as Ericnomics, a personal finance whiz with over 200,000 followers on Instagram and TikTok. Eric’s got an impressive background in traditional finance, hedge funds, and crypto, and now he’s sharing his journey with us. We chat about everything from his days working at banks and hedge funds to making the leap to full-time content creation. Eric opens up about the intense and sometimes toxic work culture in finance, offers a peek into the hedge fund world, and explains some of his thoughts and strategies in Crypto.

Timestamps
00:00 - Introduction and Eric Pan's background
01:08 - Transition to full-time content creation
02:17 - Eric's journey in finance and crypto
03:27 - Experiences in traditional finance
04:17 - Explanation of AML and KYC
05:09 - Worst job experiences in the bank
06:06 - Toxic work culture in finance
07:17 - Explanation of buy side vs. sell side
07:57 - Working with billionaires in hedge funds
10:10 - Purpose and greed in hedge funds
10:37 - Qualifications for investing in hedge funds
12:13 - Hedge fund strategies and long/short explanation
14:13 - Use of Bloomberg Terminal in hedge funds
15:07 - Example of satellite imagery in hedge funds
17:32 - Pressure and stress in hedge funds
20:10 - AI in finance and hedge funds
21:13 - Transition from hedge funds to crypto
24:08 - Qualified custodians in crypto
25:27 - Importance of qualified custodians
26:32 - Edge in crypto investing
27:01 - Crypto VC investments and risk tolerance
29:17 - Eric's personal crypto allocation
32:39 - Crypto market volatility
33:19 - Passion for educating and content creation
34:41 - Goals and measuring success
37:15 - Building a business in content creation
38:18 - Fire round: Investing advice for beginners
39:52 - Investing in 2024
41:08 - Travel plans and points usage
42:32 - Japan travel highlights
44:04 - Culture and safety in Japan
45:53 - Stocks and crypto investments for July
47:10 - Final words and closing remarks