Tom Sosnoff, CEO and co-founder of Lost Dog, joins us from the trading floor of the New York Stock Exchange to share insights on his latest venture. Building on his experience with platforms like Thinkorswim and Tastytrade, Tom explains how Lost Dog helps investors optimize both their career value and portfolio value using agentic AI. The platform provides a quantitative look at your investments, helping improve cost bases, identify outlier risks, and make smarter decisions. Tom also dives into the role of AI in retail investing, emphasizing that while it can make investors smarter, it’s not a crystal ball for predicting market moves. He shares his perspective on wealth preservation amid stagflation chatter and highlights the opportunities that volatility and market noise can create. Finally, Tom leaves viewers with two timeless lessons from his 44-year trading career: “You don’t really know anything” and “stay small.”
Get the latest news and updates on FINTECH.TV
Tom Sosnoff joins us now down here on the trading floor of the New York Stock Exchange.
He is the CEO and co-founder of Lost Dog visiting us from the great city of Chicago.
Nice to have you down here, my friend.
It's awesome to be back.
Talk to me first and foremost, what is Lost Dog for anyone a bit unfamiliar and how have you taken your years of experience building platforms like Think or Swim and Tasty Trade now to your work at Lost Dog.
I guess life is just a learning experience all the way through.
Love building technology, and this is our latest venture.
Uh, and talk to me about what it, what, what is it all about?
It's a platform focused on optimizing your career value and your portfolio value.
So what we're, what we're really trying to do is to give people a quantitative look at their career and a quantitative look at their portfolio.
So what is, I find this fascinating.
What is the core technology behind Lost Dog that turns a loss into a potential asset?
What does that actually mean for a would-be investor?
Well, actually that's not the name.
That's not where the name came from.
Yeah, but, um, but what it does is what Lost Dog does for a potential investor is it shows people how to improve the basis of whatever their positions are.
I don't care what stock you bought.
We're on the New York Stock Exchange, any stock that you bought, how to improve basis, that means how to improve your cost base.
And it also shows people where your outlier risk is, and it used agentic AI for all that, including portfolio building and everything like that.
So it's just super cool new technology.
Speaking of super cool new technology, artificial intelligence is more and more at the fingertips of retail investors today.
How is it changing the odds for retail investors?
What is it doing?
Is it an additional form of a benefit for investors?
Absolutely.
I don't know that it's changing the odds.
What it is doing is making everybody smarter.
It's like having a buddy that has 160 or 165 IQ.
That's what AI is.
Uh, your friend group just got better.
Yeah, your friend group just just got smarter.
But are there, uh, are there words of caution that you would give the retail investor maybe for over relying on some of this new technology?
Listen, it's still prone to things like hallucinations, could give you bad information, might extract financial data that's a bit dated.
The upside so far outweighs the downside that I would say the only thing that I would be cautious about is AI is not going to tell you what the market is going to do next.
It's not going to tell you if the stock is going to go higher, but it is going to make you so much smarter and it's only going to benefit you.
What is your philosophy on wealth preservation during a so-called, you're probably sick of this word stagflation threat.
We go through these cycles where we talk a lot about stagflation and then sometimes we don't.
We're kind of back to a stagflation news cycle again.
I've been trading for 44 years actively.
I'm a junkie.
And I would say that I've heard the word stagflation probably, I don't know, 1000 times.
I'm still not really sure what it means for traders, but I will say that anything that comes up like newsworthy like that creates opportunity.
It creates higher volatility, which creates more opportunity.
Noise is good for traders.
Noise is good for investors because it creates opportunity.
Before I let you go, what is one lesson of trading that you wish you had learned sooner in your trading career?
Remember two things.
A, you don't really know anything, and B, stay small.
Tom Sosnoff, CEO and co-founder of Lost Dog, you really don't know anything and stay small.
I love that.
I might put that on a bumper sticker right here for the show.
Thanks a lot for joining us.
Really nice to have you.
Thanks so much.