My Worst Investment Ever Podcast

BIO: Julian Klymochko is the CEO and Chief Investment Officer of Accelerate, a leading provider of alternative investment solutions. STORY: Julian got into an M&A trade where the acquirer had to stage a shareholders’ vote. This led to a hostile acquisition where the target company was bought by another acquirer that was not part of the deal. Julian made a significant loss in this trade. LEARNI...

BIO: David Hay has been employed in the securities industry since 1979 when he joined Dean Witter Reynolds, now Morgan Stanley. STORY: A colleague told David about a business that was going to sell books online. David wasn’t convinced that the business had a competitive edge. So while his colleague invested $50,000 into this company, David chose not to invest. The company was Amazon. Had David inv...

BIO: Rex Salisbury is the Founder & General Partner at Cambrian Ventures, a pre-seed & seed focused fintech fund. STORY: Rex’s biggest mistake ever was sticking with his initial career too long, even though he knew he shouldn’t have been working that job. LEARNING: Invest in the skill that you want to move into as much as you. Build networks early in your career.   “Make yourself mark...

In this episode of Investment Strategy Made Simple (ISMS), Andrew and Larry discuss chapters of Larry’s book Investment Mistakes Even Smart Investors Make and How to Avoid Them . In this fourth episode, they talk about mistake number five: do you let your ego dominate the decision-making process? And mistake number six: do you allow yourself to be influenced by herd mentality? LEARNING: Don’t let...

BIO: Harvey Sawikin is the co-founder and co-manager of Firebird. Launched in early 1994, Firebird’s funds were the first dedicated to the stock markets of Russia and the former Soviet Union. STORY: Harvey invested twice in a bank and a vodka company without due diligence. Instead, he believed that other companies who had invested in those investments had done the job of verifying their viability....

BIO: Paul Krake is a global strategist focusing on mega themes of climate, China, digitization, and demographics. STORY: Paul quit a prestigious job where he had seasoned mentors to start a hedge fund. After a few years, he realized he wasn’t mature enough or emotionally prepared to run a business on his own. LEARNING: Surround yourself with people who are more experienced than you are. Think abou...

BIO: Noel Smith is the Chief Investment Officer of Convex Asset Management and the Head of Options Trading at Tanius Technology.  STORY: Noel and his partner invested in a stock whose price kept falling. Every time the price would fall, Goldman Sachs would come in and buy like 50,000 out of the money calls. This made the partners hold onto the stock, eventually riding it to zero. LEARNING: Ha...

What’s interesting about Toyota is that if you buy today, you get its future growth for free The right time to buy might be now ICE vehicles are not going away, providing ongoing revenue support Toyota is the world’s largest car manufacturer, ranked by a composite of market cap, revenue, and employees. The company has been a leader in alternative energy solutions such as hybrids and hydrogen-power...

BIO: Guillermo Cornejo is the CEO of Riders Share, the Airbnb of motorcycles he started while attending grad school at UCLA. STORY: Guillermo had an insurance company handling claims for his customers. When he realized the insurance company had a 50% profit margin, he decided to start his own insurance business. This became a costly and challenging venture because he had no experience handling cla...

BIO: Eugene Ng is the Founder and Chief Investment Officer of Vision Capital & Vision Capital Ventures. He is also the author of the Amazon best-selling book Vision Investing: How We Beat Wall Street & You Can, Too! STORY: Eugene invested in a three-day course in a bid to accelerate investment learning. The course involved playing a simulated stock investment game. Eugene lost in the early...

Will the global CPI slowdown continue? Global Markets Global CPI is falling fast in both DM and EMs Economies across the world have a GDP of about US$90trn and an average CPI of 6.2% DM CPI was 5.7% EM CPI was 6.9% World CPI was 6.2%, down 0.4ppts from one year ago; MoM it was down 0.8ppts DM CPI was 5.7%, down 0.9ppts from one year ago; MoM it was down 0.8ppt It has moved from being in line with...

BIO: Nick Maggiulli is the Chief Operating Officer and Data Scientist at Ritholtz Wealth Management, where he oversees operations across the firm and provides insights on business intelligence. STORY: Nick invested in a stock he wasn’t familiar with just because his friends were doing it. He suffered a 78% loss. LEARNING: Don’t buy individual stocks. Trust your gut.   “If you’re going to gamb...

In this episode of Investment Strategy Made Simple (ISMS), Andrew and Larry discuss a chapter of Larry’s book Investment Mistakes Even Smart Investors Make and How to Avoid Them . In this third episode, they talk about mistake number three: Do you believe events are more predictable after the fact than before? And mistake number four: do you extrapolate from small samples and trust your intuition?...

BIO: As an accomplished entrepreneur and respected leader in the fintech industry, Larry Shumbres’s mission is to continuously enhance the investing experience for both advisers and investors through innovative technology. STORY: Larry tried to create a hedge fund, 50% tied to digital gold and 50% tied to the top five cryptocurrencies but faced so many setbacks in the process. He spent too much ti...

BIO: After starting his career at Bear Stearns and then co-founding a multi-billion-dollar hedge fund firm, Jesse Felder left Wall Street to focus his energies on research and writing. Today he publishes The Felder Report and hosts the Superinvestors podcast. STORY: Jesse found a cigar butt stock that was cheap and performed extraordinarily well in just a few months after he took a pretty sizable...

Remember that CPI is not inflation Mar 2023 US CPI was 5%, down from 6% in Feb and off its June 2022 peak of 9.1% Mar 2023, the food component was up 8.5% but has come off its Aug 2022 11.4% peak Mar 2023, the energy component was down 6.4, a massive fall from its 41.6% June 2022 peak In Mar 2023, all other items were flat MoM at 5.6%, down from Mar 2022 6.5% high Without a surge in oil US, we for...

BIO: Sachi Wickramage is the Co-founder, COO & CPO of i4T Global, a disruptive Field Service Management ecosystem. STORY: Sachi and his partner created an app that they thought would solve a problem for suppliers. Turns out, the suppliers didn’t need the app at all. LEARNING: Sometimes, you have to take a step back to take a step forward. Understand the moment of intent for each of your custom...

In this episode of Investment Strategy Made Simple (ISMS), Dave joins Andrew again as he shares more about his good and bad investments, among other things.   “Most of the books I read that helped me invest are not about investing but about history.” Dave Collum   Listen to Dave’s previous interview Ep660: What Should the US Be Doing in Ukraine? He shares his views about the UK, the US,...

BIO: Vincent Deluard is the global macro strategist for StoneX Group Inc., where he authors weekly commentary on global macro topics and advises pension funds on asset allocation. STORY: Vincent decided to overleverage an ETF during the financial crisis of 2008 in the belief that the economy would bounce back. Interest rates, however, fell, and he lost 70% of his investment. LEARNING: Take into ac...

BIO: Igor Yelnik founded Alphidence Capital Ltd in 2020 and holds the positions of CEO and CIO. Alphidence is a systematic macro hedge fund management firm based in London, UK. STORY: Igor’s company entered into a forward contract with one of Russia’s biggest banks and sold a very significant amount of the Russian ruble against the US dollar. The company made a considerable profit, but the bank de...

BIO: Bogumil Baranowski is a founding partner of Sicart Associates, LLC, a New York City investment firm. He has almost two decades of investment experience. STORY: Bogumil invested a lot of time and money in two companies that were drowning in debt, had poor management, and had a secular decline. LEARNING: Just because it’s cheap, don’t compromise on debt, management, and secular decline. Debt is...

In this episode of Investment Strategy Made Simple (ISMS), Andrew and Larry discuss a chapter of Larry’s book Investment Mistakes Even Smart Investors Make and How to Avoid Them . In this second episode of the series, they talk about mistake number two: Do you project recent trends indefinitely into the future? LEARNING: Hyper-diversify and rebalance your portfolio.   “You cannot run away fro...

Emerging Countries - China and Russia with stable rates, LT rates up only slightly, yield curve inversion less severe except Russia Interest rate overview China 3m yield 2.5%, India 7.2%, Korea 3.3%, Russia 22.3%, Brazil 13.6% China 1yr yield 2.2%, India 7.2%, Korea 3.3%, Russia 10.0%, Brazil 13% China 10yr yield 2.9%, India 7.3%, Korea 3.3%, ...

Developed Countries - Vast DM Country increases in ST and LT rates, Japan stays an outlier, US looks worst based on yield curve inversion Interest rate overview US 3m yield 4.9%, Japan -0.3%, Germany 2.6%, UK 4.1%, France 2.8% US 1yr yield 4.7%, Japan -0.1%, Germany 2.9%, UK 4.0%, France 3.0% US 10yr yield 3.6%, Japan 0.3%, Germany 2.3%, UK 3....

Developed Market Regions - ST rates about to peak, LT rates are falling, inverted yield curve in DM Americas and Europe widened Interest rate overview DM Americas 3m yield 4.8%, DM Europe 3%, DM Pacific much lower at 1.1% DM Americas 1yr yield 4.6%, DM Europe 2.8%, DM Pacific same as 3m yield at 1.1% DM Americas 10yr yield 3.5%, DM Europe 2.9%, DM Pacific 1.4% is high...