Former Wall Street Trader: Why You Should Stop Listening to Common Advice So You Can Make More Money

by | Mar 27, 2024 | Podcast | 0 comments

Jason Garet Mendel
Jason Garet Mendel

Jason Mandel is the Founder and CEO of Mandel Family Office, a firm dedicated to providing comprehensive financial services to high-net-worth individuals and families. As a Wall Street insider and private financial advisor, he has held senior positions at the LeFrak Organization, D.E. Shaw, and Cantor Fitzgerald. Jason has over 25 years of entrepreneurial experience in financial services and risk management. Additionally, he is the President of Caretrust Financial and the author of DEMAND TRANSPARENCY: Stop Wall Street Greed and Rising Taxes From Destroying Your Wealth.

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Here’s a glimpse of what you’ll learn: 

  • [0:00] Jason Mandel reveals Wall Street secrets
  • [5:54] The need for transparency and honesty on Wall Street
  • [8:55] Jason’s experience working on Wall Street 
  • [14:47] How to diversify your investment portfolio without relying on Wall Street tactics 
  • [22:24] Investing without risk by purchasing insurance 
  • [31:36] Jason’s epiphany to leave Wall Street — and how he transformed his life and career
  • [34:16] Investor secrets Wall Street won’t divulge
  • [40:29] What are the implications of investing on Wall Street?
  • [49:18] Why market crashes don’t impact insurance investors
  • [52:06] Advice for investors considering alternative income streams

In this episode…

Traditional investment vehicles are primarily controlled by Wall Street and overseen by corporate entities that levy a charge to administer your equity and bond portfolios. These corporate entities derive profits from your investments even in a bear market, and they advocate a wait-and-watch approach while you continue to experience losses. How can you build and maintain wealth without relying on Wall Street?

Former Wall Street executive Jason Mandel realized there had to be a way to invest without losing considerable amounts of money in the process. After leaving the Wall Street scene, he discovered absolute return investments. This alternative investment stream involves purchasing untaxed products like life insurance, allowing you to invest and borrow funds with limited loss and risk. These assets generate a higher return and are protected against creditors. By investing in life insurance rather than a traditional 401k, you can receive tax-free income in retirement and leave a monetary legacy for your family.

In today’s episode of What The Teck?, Jason Mandel, the Founder and CEO of Mandel Family Office, joins Rolando Rosas and Dave Kelly to share Wall Street insights and how to invest without risk. Jason reveals the investor secrets Wall Street won’t tell you, the importance of transparency and honesty on Wall Street, and why he left Wall Street after becoming diabetic.

Resources mentioned in this episode:

Sponsor for this episode…

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Episode Transcript:

Rolando Rosas 0:00

All right, read is Gordon Gekko. Did you have it right?

Jason Mandel 0:04

I’ve worked for them some of the real life Gordon Gekko transparency. That is what is necessary on Wall Street. The most successful people are people that

Rolando Rosas 0:12

Jason Mandel and insiders, insider money and business expert

Jason Mandel 0:16

Wall Street veteran. 30 years of experience his new book Demand Transparency blows the lid off Wall Street. I think Wall Street is corrupt and people are being badly advised. I live that Wall Street life. I knew people with drug addictions, sexual addictions, a lot of alcoholics. A lot of people had an addiction to work. And here’s the sad reality. what’s

Rolando Rosas 0:37

the implication for people that work in organizations like this?

Jason Mandel 0:41

I was working 18, sometimes 20 hours a day. And that’s why I

Rolando Rosas 0:45

almost died. Why aren’t more people taking advantage of this? Because Wall

Jason Mandel 0:49

Street can’t get paid on these products. That’s the problem. Okay, it’s

Rolando Rosas 0:52

about money. It’s about money. It’s all about money always is when I retire ching

Jason Mandel 0:56

ching. Its products don’t pay Wall Street very well. So Wall Street’s not going to tell you about what the secret that no one realizes.

Rolando Rosas 1:12

Welcome to What The Teck? your gateway to business strategies and tech secrets, shaping today’s workplace. You know, no more shadowy, as well as most glamorized Places to Work has always been Wall Street that we say

Dave Kelly 1:27

lead us to believe that on on some of the movies, I wonder if they’ll ever be a blockbuster movie about organizations that are selling voice cloud service?

Rolando Rosas 1:36

Oh, well, you know, the most famous one is kind of zoom ish. There’s a movie in the works or book in the works that talks about zoom. But you know, you can’t rule it out. If it’s it has the potential make money better believe it’ll be a movie

Dave Kelly 1:52

because a lot of awesome scenes and some of these movies that add you know, being a sales guy for 20 plus years, a lot of people will go back and reference that. So looking forward to this conversation today.

Rolando Rosas 2:04

But you know, Dave, instead of Zoo, let’s go back to Wall Street because Wall Street is a lot of people do we get daily barrage of for me. I mean, I watched the news and CNBC and all the different financial Bloomberg and the rest. And you know, we get a take, you know, what we see on the screen? If you’re, if you’re old like us, and you watch the TV, like, I don’t know if the kids are watching the TV, but I do I still watch the TV still. And I do consume a hefty amount of stuff on my phone as well. But we have somebody today that can give us some insights into Wall Street and what’s happening at Wall Street deal. I’m curious to find out if AI is impacting what’s happening there. I suspect it is because I don’t think any workplace is immune from AI and how it’s shaping the workplace there. And what’s what we can expect both if you’re an investor, whether you have a little bit stashed in a 401 K somewhere, or you are you know, like some of the entrepreneurs that listen to us, you’ve got a lot more stashed in there, and you got a lot more riding on the market. So I want to peel back the curtain a little bit with our guest today. But before we get to adjacent, Dave, do we have big props?

Dave Kelly 3:14

You know, big props to Dr. Randy Ross, Randy Ross, the author of Remarkable and many other books. by Randy, we had a great conversation with you. We really appreciated the input that you had, you know, we talked about successful and unsuccessful company cultures, how they start, how they’re maintained. And you know, we’re looking forward to having you back on. I know that you’re working on another book. But listen, if you guys want to hear a fantastic conversation, check out our previous episode with Dr. Randy Ross.

Rolando Rosas 3:46

All right. Thank you, Dave. Let’s welcome to the show. Jason Mandel. Hey, guys, thanks so much for having me. Hey, whoa. Where are you checking in from today?

Jason Mandel 3:58

Beautiful Boca Raton, Florida. Apparently

Rolando Rosas 4:00

Florida, also known as New York South these

Jason Mandel 4:04

days for sure. I came a little while I came in 2019 before the masses, but you’re absolutely right. It is a lot of inflow from the northeast, which is good and bad. But it is a lot of fun now and there are a substantial amount of financial firms that are relocating here due to the tax situation here very favorable

Rolando Rosas 4:21

known when you don’t have state income tax in the state of Florida. Yeah. And Dave’s in one of those states to accept it’s icy cold at this time of the year. It

Dave Kelly 4:28

is ice cold Southern New Hampshire. So no state income tax. However, property taxes are certainly a little bit higher. So they get you one way or another at least that’s that’s what I’ve that’s our philosophy up here.

Rolando Rosas 4:40

I love the fact that you are a New Yorker. You’re from Massapequa. I lived for some time in Brooklyn. I want to show you something video clip that I want you to give me your reaction, your thoughts because it’s going to lead part of the conversation that we’re going to have today. So org Go ahead and roll that clip.

Guest Speaker 1 5:02

The point is ladies and gentlemen, that greed, for lack of a better word is good. Greed is right. Greed works. Greed clarifies, cuts through and captures the essence of evolutionary spirit greed in all of its forms. Greed for life, from money, for love, knowledge, has Martin upward surge of mankind and green. You mark my words will not only save tilde our paper, but that other malfunctioning corporation called the USA, thank you very much.

Rolando Rosas 5:46

The quintessential Wall Street archetype Gordon Gekko you worked in Wall Street? Did he have it? Right? Greed is good.

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