The Big Picture With Barry Ritholtz Part Three
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 7 July 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
This Independence Day holiday weekend we're joined by the blogfather himself, Barry Ritholtz! Find out how Barry got started in finance and what he finds most fascinating about the wealth management landscape.
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Transcript
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| 0:00.0 | Welcome to the Jill on Money Show. It's Sunday, July 7th, and we are here trying to talk about the things that we think you might find interesting and also to answer your financial questions. |
| 0:14.0 | If something's going on in your life, you need a little guidance, you need a second opinion, |
| 0:17.8 | just go to our website, Jill on money.com, click the contact us button, write us a note, and check the box if you'd like to join us on the air live. |
| 0:26.2 | While you're on the website you can sign up for the free weekly newsletter and do check out our |
| 0:30.5 | YouTube show it's called Jill on Money powered by the compound. And speaking of the compound, |
| 0:35.2 | we've got the third part of our interview with Barry Ritholtz today. I really became |
| 0:39.9 | reacquainted with Barry through my collaboration on the Compound and Friends. |
| 0:44.6 | Barry Ritholz and Josh Brown, Josh one of the hosts of the Compound and Friends, |
| 0:49.2 | started Ritholz's wealth management more than a decade ago, and I've been watching them grow from afar, |
| 0:55.0 | and now happily have a court-side seat to see everything going on at Ritholz and the compound. |
| 1:00.0 | Anyway, today is the third part of our interview with Barry Ritholz. |
| 1:05.0 | You guys don't manage portfolios in a uniform way. |
| 1:11.0 | In other words... |
| 1:12.0 | What do you mean? I think we do think we do no no I'm just asking this question I should have there's a question mark coming |
| 1:17.4 | but in other words every advisor |
| 1:20.8 | How do they do what is their analysis they say do you have a conservative portfolio or a balanced portfolio like how are you so first first we learn never to ask people do you have an do you want an aggressive or conservative portfolio because the pushback you get has nothing |
| 1:35.5 | to do with their risk tolerance or their goals. |
| 1:38.4 | I'm not a conservative, I'm not aggressive, it's like, all right, so return as a function of how much risk you assume right and risk essentially means |
| 1:49.1 | the range of possible outcomes up to and including your expected returns but also the returns, you know, |
| 1:56.4 | that here's the dispersion. |
| 1:59.3 | You may be minus 20%, you might be plus 20%. |
| 2:02.4 | That's what risk is. You don't know what that outcome is going to be. |
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