Investing as a Hobby (Tadas with David Schawel)

The Compound and Friends

Josh Brown

Business News, News, Investing, Business

4.7 • 2.2K Ratings

🗓️ 5 July 2019

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

“Where investing as a hobby might be sensible is with a small amount of your assets that you can afford to lose, and that you can handle psychologically. Being under the illusion that diving into investing in a meaningful way will result in above average performance is dangerous and likely to end poorly based on historical studies.” David Schawel (@davidschawel) is the CIO of Family Management Corporation and is a veteran observer of the financial markets. Tadas got David on the phone to talk about a recent post of his entitled “Investing as a Hobby” where he writes about what a hobby is and why investing is likely not a worthwhile hobby for most. You can read more at David’s blog: https://medium.com/@DavidSchawel/investing-as-a-hobby-8d048d5d98bd 1-click play or subscribe on your favorite podcast app Subscribe to the mini podcast on iTunes or Spotify Enable our Alexa skill here - "Alexa, play the Compound show!" Talk to us about your portfolio or financial plan here: https://ritholtzwealth.com/ Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey David, how are you?
0:02.0	Doing well, how are you today?
0:03.4	Hey, I'm good.
0:04.4	I'm on the line with David Shaw, who is the chief investment officer at Family Management
0:08.4	Corporation based out of New York City.
0:11.0	David has written a number of on a number of different
0:14.0	investment related topics, but today I wanted to talk to him about a recent post
0:18.5	entitled Investing as a Hobby. In this post David lays out three reasons why investing may not necessarily line up with
0:25.9	what we call a traditional hobby.
0:28.7	So that's a good place to start.
0:30.7	David, what prompted you to write this post?
0:33.0	Well, it's interesting.
0:34.2	You know, you talk to the average investor,
0:37.6	and sometimes you get the sense that not only
0:39.8	do they like investing and they like talking about investing, but seems to whether they know it or not to be
0:45.7	a hobby of theirs.
0:46.7	Yeah, no, I've, you know, it's interesting because I wrote a post just about five years ago on the same topic
0:52.4	and you know, it kind of makes me you know and
0:55.9	in one regard there's more information today which you would think would make
0:59.7	it easier as a hobby but in some different respects I think that you wrote about, it's probably harder today.
1:07.0	Right, yeah, I absolutely agree.
1:09.0	And then, you know, sometimes you have to think about when you have a hobby, what are you actually trying to get out of it?
	...

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