At the Money: Should You Be A Stock Picker?

Masters in Business

Bloomberg

Business, Entrepreneurship, Investing

4.4 • 2.2K Ratings

🗓️ 1 May 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

We know it’s challenging, but should you try your hand at stock picking? It's fun, it gives you something to talk about at parties, but is it profitable? Larry Swedroe, Head of Financial and Economic Research at Buckingham Strategic Wealth, which manages or advises on $70 Billion in client assets, speaks with Barry Ritholtz about the challenges of picking stocks. Only a few people have been successful at it over time, and they have become household names. Most of the rest have not earned their costs.

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Transcript

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0:00.0	I'm Alex Rodriguez and I'm Jason Kelly from Bloomberg. This is the deal each week you're here is in conversation with business icons
0:07.4	This show will explore deal-making across sports media and entertainment. That is a harsh lesson in business.
0:13.8	Sports is not as simple as bringing a bunch of big names together.
0:17.1	I didn't want to do another stomp you out speech.
0:19.2	It opened up so many more doors.
0:20.6	The show is called The Deal.
0:22.1	Listen to the Deal, wherever you get your podcast.
0:25.0	And watch on Bloomberg Originals, Bloomberg Television, or B TV Plus. I'm a winner I'm a grinner I'm a lover I'm a sinner I'm Barry Ritholtz and on today's
0:38.9	edition of At the Money we're going to discuss whether or not you should try your hands at
0:44.8	stock picking it's fun it gives you stuff to talk about at parties but is it
0:50.2	profitable to help us unpack all of this and what it means for your portfolio, let's bring in Larry
0:56.0	Swedro, head of financial and economic research at Buckingham Strategic Wealth, the firm manages
1:01.8	or advises on over 70 billion dollars in client assets, and
1:06.2	Suedro has written or co-written 20 books on investing.
1:11.3	So Larry, I know you're not a big fan of stock picking. What's the problem
1:16.2	with throwing a couple of great stocks into your portfolio?
1:19.7	If it's done for an entertainment account in the same way that we don't expect to get rich going to Las Vegas.
1:28.0	No one would invest their IRA in the casinos of Las Vegas or go to the racetrack with it. So that's okay if you're
1:37.1	prepared to lose. The evidence is very clear that stock pickers on average lose because of their trading costs
1:47.0	not because they're generally dumb.
1:50.0	Although I will add this Barry,
1:52.0	the typical retail investor is actually dumb or naive, and
	...

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