Brutally honest guide to not losing money in the market

My First Million

Hubspot

Business, Investing, Entrepreneurship

4.7 • 2.9K Ratings

🗓️ 10 June 2026

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Get our Investment Guide: https://clickhubspot.com/klsr Episode 832: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk to legendary fund manager Barry Ritholtz( https://x.com/Ritholtz ) about the behaviors that destroy returns for investors and how to avoid them. — Show Notes: (0:00) Intro (2:19) christmas tree portfolio (4:43) the cowboy account (9:51) day trading (11:09) Barry yells at Lloyd Blankfein (13:46) panic selling (16:45) sam picks a fight (18:46) direct indexing (21:43) Great investors (27:25) 90% of everything is crap (36:14) Elon's foray into PE (44:02) Predicting the housing crisis (46:01) spending a year as the dumbest guy on wall street (49:01) Why bubbles are good for the economy — Links: • How Not To Invest - https://www.hownottoinvestbook.com/ — Check Out Sam's Stuff: • Hampton (joinhampton.com): My community for founders. Average member does $25m/year. Many of the guests are members. Get after it...apply: http://joinhampton.com/mfm — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC • I run all my newsletters on Beehiiv and you should too + we're giving away $10k to our favorite newsletter, check it out: beehiiv.com/mfm-challenge My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano /

Transcript

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0:00.0	If you could tell me something in the next 15 minutes that would make me a better investor,
0:03.8	what's the first point you would just hammer into my head?
0:06.9	Oh my God.
0:07.7	Put the fucking phone down.
0:10.2	Stop trading.
0:11.9	I feel like I can rule the world.
0:13.8	I know I could be what I want to.
0:16.5	I put my all in it like no days off.
0:19.1	On a road, let's travel.
0:20.5	Never looking back.
0:21.7	I think the interesting place to start is we've had a few different people from the school
0:26.2	of investing wisdom come on, sort of the value investing genealogy.
0:31.2	And me and Sam, although we are not investors, we're definitely like entrepreneurs first
0:35.6	and then, you know, investing as a sort of hobby, sport type of thing. We're so attracted to it. We're definitely like entrepreneurs first and then, you know, investing as a sort of hobby
0:38.7	sport type of thing. We're so attracted to it. We love the sort of investment wisdom, especially
0:43.4	especially your version, which is the the awshucks common sense version of investing,
0:49.2	which is less about how to be super smart and do advanced things and just how to be less stupid
0:53.9	than you already are. And don't worry, you'll be fine. And so I things and just how to be less stupid than you already are
0:54.8	and don't worry you'll be fine and so i'm excited to talk to you have a cool story you uh you started off
1:00.7	really in the content game in the media game blogging back in geo cities early on with podcasting
1:07.1	and built a large uh investment advisory shop shop called, named after yourself.
1:14.3	I think you guys got to what?
	...

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