The 60/40 Portfolio is Dead. Again.
The Compound and Friends
Josh Brown
4.7 • 2.2K Ratings
🗓️ 15 October 2021
⏱️ 85 minutes
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| 0:00.0 | So I'm walking through the new Moynihan train hall which just opened I guess during the pandemic |
| 0:08.1 | and on my way here it's like two hours ago and I see a ghost. I see this guy that I worked with |
| 0:16.0 | for like probably two or three years and I just forgot that he was even a character in my life. |
| 0:21.6 | The donut? No, no, no, no. So this guy was in charge of the prop trading unit |
| 0:29.4 | at a broker deal where I worked at and his whole thing. He was like not a trader, |
| 0:35.1 | he was like in charge of the desk and more importantly every day how much they made or lost |
| 0:40.6 | and he was like maniacal about the whole thing and in those days probably still now |
| 0:48.0 | the prop traders like were always felt underpaid, right? So he would have to have a negotiation with |
| 0:54.5 | them every month how much how much they contributed to the success of the trading desk and |
| 1:01.0 | I just I never had anything to do with him because I was a broker or I just remember him always being like |
| 1:07.8 | like there'd be like a there'd be like a commotion in the hallway like people waiting outside his door |
| 1:12.2 | he would come out of his office he'd say guy guy come over here let me show you something |
| 1:18.1 | and he would walk people around the back of his desk to his computer he'd say guy this |
| 1:23.8 | screen doesn't lie and he would say that every single time this screen doesn't lie here's the screen |
| 1:32.4 | it's not lying and I listen to him do this every month with 10 different traders like honestly |
| 1:39.4 | for I think two full years and so and then I never thought about this gentleman ever again |
| 1:45.8 | and I see him just now and I do it I wanted to pull my mask up over my face like if I had a |
| 1:52.4 | hooded sweatshirt on it would have been so I I avoided fortunately because I it's one of |
| 1:59.6 | these things where it's like I hope this guy forgot that I'm alive probably not not a chance |
| 2:05.6 | but I definitely forgot that he's alive and his screen that doesn't lie and that whole routine |
| 2:11.4 | it's just it's just like one of these reminders that oh my god life is very different now than back then |
| 2:17.2 | and he's still doing it with the hot dog vendors in case the screen doesn't lie he could be homeless |
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