QUESTION: Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know,who you are and your background.
ANTHONY: Thank you for recognizing me and our team at Webull. My name is Anthony Denier and I am the CEO of Webull Financial. Born and raised in New York, I grew up 20 miles east of midtown on Long Island, attended college at Columbia University, and got my first job out of school trading equities for Credit Suisse in New York. Compared to my fintech peers, I probably have a more traditional Wall Street background than most that is heavily rooted in adhering to industry regulation and customer protections.
QUESTION: Your company WeBull has burst upon the trading scene recently. Can you briefly describe what you do, your short and long term objectives. And the benefits you feel you bring to day,swing and long term traders.
ANTHONY: Webull provides premium trading, market data, and analytical tools to all investors, regardless of AUM or trade activity for free. No minimums, no fees. Many users don’t know, but Webull started as a free market data app, and we only added the brokerage and trading component in May 2018. We now boast over 10 million global downloads of the app and hundreds of thousands of brokerage accounts in the US. Our short term goal is to provide all the tools we possibly can for our users to make smarter trade decisions. We strive to continue to add new products for our users, like options, and crypto, but want to be sure we roll these products out correctly to our users so Webull can be a place where they grow their money, rather than lose it due to inexperience or lack of information on what they are trading. Eventually, Webull we be the premier destination for free trading and investing tools for users who don’t want to actively trade their own accounts.
QUESTION: What personal or professional failure/setback have you experienced in your life or professional career that has set you up for later success?
ANTHONY: One of the reasons I love the northeast is the change of seasons, without the darkness and cold of winter, you cannot truly appreciate the light and warmth of summer. The same applies to life experiences. As an institutional trader, I was subject to the boom and bust cycles of the economy and found myself taking lateral jobs across my career because I was confident in what I knew and scared of what I didn’t. In 2012, I was trading equities for the Dutch bank, ING and they decided to close down their equities business in the US. I was devastated as I had a growing family and fears of not being able to provide for them. I knew I needed to adapt and embrace the fear of the unknown so I started my own broker dealer. This turned out to be the path of learning that would bring me to eventually start Webull Financial 5 years later.
QUESTION: How would you describe what makes a successful Trader – keeping in mind that it has been reported that 90% of traders fail. And how do you feel WeBull can better those odds for the everyday retail trader.
ANTHONY: A successful trader is someone that can learn from and perhaps more importantly, not repeat past mistakes. The main difference between a trader for an investment bank and a retail trader is information. Retail traders are always at a disadvantage because they simply lack the tools of their institutional counterparts. Webull levels the playing field. Webull provides real time volume analysis, community discussion boards, and stock analysis tools so retail traders are no longer only executing trades on last price and internet searches.
QUESTION: Away from your role at WeBull, what do you feel is the role in having a balance all around life in your day to day activities. What hobbies do you enjoy?
ANTHONY: I wear a suit most days and stare at a computer longer than the recommended daily allowance, so when I’m not working I am spending time with children. Most notably, I have been coaching my sons little league teams now for several years. It not only selfishly gets me out of the office early some days, but it gives me a chance to interact with them in a positive way by teaching, instilling confidence, and helping them to overcome failures.
QUESTION: What advice would you give to your younger self as it relates to your personal life. What about advice for your younger trading self?
ANTHONY: I would tell myself that disappointment and failure are unavoidable, just be sure to take from that a powerful lesson and don’t ever repeat.
QUESTION: What good & bad advice do you hear often in life (professional or personal)?
ANTHONY: My wife tells me, “Integrity is hard earned and easily taken away.” There couldn’t be a more succinct piece of advice. Always question anyone or anything that promises you to get rich quick, or success with little to no effort. This is just not true.
QUESTION: If you had to give a book or books as a gift to someone, What would you recommendand why?
ANTHONY: I recently finished Moby Dick from start to finish. Even though I “studied” it in school I only read the parts that needed to be read. In order to fully appreciate the battle and futile dedication of Ahab and his mission the reader has to also endure. Its not an easy beach read, but when your through you have the feeling of accomplishment that only comes after doing something difficult. Such is life.
QUESTION: When you have lost your mojo or focus , what do you do to get back on track?
ANTHONY: Simple, take a day off and focus on what matters most in your life. In my case, my family. Spending quality time those that mean the most to me always refuels me drive forward and succeed.
QUESTION: If you could have a big billboard with your favorite saying or message on it, what would it be.
ANTHONY: Without risk, there is rarely reward. – Paul Allen