Ex-Hedge Fund Manager Patrick Boyle Talks Retail Trading, Fake Gurus and Bubbles
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- เผยแพร่เมื่อ 30 ก.ย. 2021
- This video is available as a podcast at www.theplainbagel.com and on Apple Podcasts (search "The Plain Podcast")!
I had the privilege of sitting down with ex-hedge fund manager and TH-camr Patrick Boyle to talk about retail trading, fake gurus and bubbles.
Check out Patrick's channel: / patrickboyleonfinance
If you'd like to support the channel, you can do so at Patreon.com/ThePlainBagel :)
Buy a Plain Bagel Mug and support a charity! Proceeds for 2021 will be donated to Doctors Without Borders: store.dftba.com/collections/t...
DISCLAIMER:
This channel is for education purposes only and does not constitute financial advice - Richard is not responsible for investment actions taken by viewers. Please seek out a registered advisor if you require assistance (while Richard is a registered portfolio manager at WDS Investment Management, he does not provide advice through The Plain Bagel, which is not affiliated with his employer).
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Thanks for inviting me on. Hopefully everyone wont just skip to the end of the video to find out if Richard is actually a bagel.
Muy bueno que te haya invitado! Sos un maestro!!
He's not?!? (I'm only on minute 3...)
Great interview, Patrick. I sincerely appreciate the informed insight you provide on your own channel as well.
Thanks to both of you!
The greatest crossover of all time 🥵🥵
Patrick was my university lecturer. I can't thank him enough.
Where did u study?
@@JM4TH-cam TH-cam university
@@amgjens to be honest in order to be a good teacher your need a sense of humor.
What is your job now
And why u r not posting now
@@JM4TH-cam kings college uni
"Wouldn't you have liked to buy amazon in 1997". I actually worked with a woman who's daughter was an early employee at amazon in 1996. She loved the idea of this online book store that her daughter was working at. Her broker tried so hard to convince her not to buy the stock that she actually fired him and went to someone else. She purchased $1k and hasn't touched it since. She retired last year and that stock alone is roughly 70% of her retirement nest egg.
My boss at a deli I worked at owned a bunch in the late 90’s. I wish I listened to him.
Great investment but it was not a get rich quick result. It took years to get her to this point.
This is a year old, but I had to come and say that holding 70% of your retirement account in any single company is a terrible idea. Doubly so if it's your employer's stock, as that means you're exposing yourself to increased downside volatility. You obviously want to take on any employer matching offers, but basic portfolio management dictates that you need to be selling off winners and re-balancing your holdings.
If your company starts having a downturn, you will be more compelled to stay with the sinking ship as your stock/options devalue (whereas you may be better off actively searching for a better compensated position at another, more stable firm), and the worst case scenario is if the company is doing so poorly that you get laid off, where your company equity valuation is likely down by at least 30%. Her timing was just incredibly lucky to retire last year--if she missed the (admittedly extended) top, and decided to retire this year, she may not be able to, as her 70% nest egg would have halved, representing a 30% overall portfolio loss. And that's still assuming she re-balanced after leaving AMZ. There are stories of retirees who still held onto long-winning positions and didn't rebalance into retirement, and suffering lifestyle-changing losses as a result.
@@namastyle it's not 70%, it's just that 1k investment had grown so much that it occupied 70% of her nest since she have never touch, imagine buy 100$ bitcoin back in 2013 and retire now, no matter if that $100 was less than 1% of your portfolio, at today's price it might grew to become 99% of it, because it had grown way bigger than the rest.
@@robymaru03 Sorry, but I'm talking about the exact scenario you're describing. Please learn about modern portfolio management & asset allocation--the exact issue is that you do not want your highly outperforming investments to take up an outsized proportion of your retirement fund.
This includes even if you do not add to your position while the growth is happening. "Let it ride" is a strategy for degenerate gamblers, not investors. To explain it to you better, say at year 1 AMZ represents 10% of her retirement fund, but the growth in AMZ is 2x that of the rest of her index-based assets. There will be a point where AMZ represents 30% of her portfolio, even if she does not add to that position, same with 50%, and 70%. Somewhere along the spectrum is a point where it would be efficient to start selling off AMZ and re-allocating in other firms, perhaps TSLA at IPO for example.
Patrick Boyle is a gem. He has a calm, informed and deeply knowledgeable offering. Plus he is hella funny. I think he is the best financial person on TH-cam.
Yea I love Richards videos, they explain topics very well and are high in production value, but Patrick Boyle is just so funny while doing informative videos, you really can't beat that humor.
Yeah the snark on Patrick Boyle is as sharp as scalpels cutting provolone.
Two true financial pros that have blessed the platform - congrats to the both of you on your success!
Updoot to get Benjamin on
Punch Card Investing in the chat!
He makes a great point. Everyone knew automobiles would be a huge business but approx 5000 u.s. automakers entered that fray... three survived and two went bankrupt (they got bailed out, yes)
The Darwinian harrowing always occurs.
Love how Boyle's account has seen such growth these past months
I thought you meant his financial account and I was about to ask where you would know that from. His channel is so interesting and, like Richard, I've never seen him discuss his holdings
All started with coffezilla mentioning him
Deffo. Not to come across as a hipster or anything but I think I was one of his first followers who wasn’t a student in his class. Criminally underrated Chanel.
@@freddybenelli9100 That's how you can tell they're legit: they are tight-lipped about their investments. No lambos, no wads of cash, no "Yolo everything into otm SPY puts and become a billionaire in two weeks like I did!"
@@ydderynnad as they discussed, working strategy takes research and if people crowd to a strategy then you dilute the gains, so people who are confident about what they are doing will keep the fruit of their research to themselves
Patrick is the most grounded advisor I’ve ever heard. “Do what you are good at.” Is the best investment advice. It seemed to me that most ppl who use the stock market lose their money.
I’m better off just driving the truck and increasing my 401k contribution than trying to be a fly by night investor and losing my entire life savings.
I feel people who use stock market that lose money are essentially there because they want to make money more so than have a company be successful. And that is why they lose money.
When I first started in the market I would buy top losers at -30+ stock drops with hopes that it would just turn around and get better so obviously I lost some and gained less, once I started looking more into companies where I like thier employment policies, their cashflows, what they do and buying the company for what they are and not for "how much can they make me" I have made so much that I have surpassed my losses.
Didn't know Jason Statham was an ex-hedge fund manager
And an Olympic diver.
And the stonks man
BAHAHA I thought he looked like him too 😂
35:45 Some of the best interview/career advice I’ve heard in more than 45 years. This is exactly what excites me when I am recruiting in a completely different sector. Well done Patrick.
I wish had Pratick Boyle as a professor. He's awesome!
Great comment!
Not a professor.. THE Professor! 😅
This video is like 2 super heros meeting to defeat the final boss
THIS IS WHAT WE'VE WANTED!!!
Boyle is absolutely hilarious.
I really like Patrick Boyle's content because it brings true knowledge upon us.
It's gold!
I really love intelligent talk about finance and investing that isn't riddled with hype and constant yammering and selling. Great job to you both!
This channel is to the point on topic. Patrick Boyle's channel should've been around when I was studying Economics. Concepts are explained plainly and with heavy doses of sarcasm and wit... :D
Everyone: _Infinity War_ Is The Most Ambitious Crossover Event In History.
Richard: "Hold my beer."
Get Benjamin on
Hold my bagel
@@jamesmeow3039 yes!
It's really good to hear two guys have a grounded conversation in this world so full of frauds. I don't sub often but I'm subbing to both of you.
22:45 Finally !!! Someone has talked about this in a public forum !! I always thought this was one of the most basic ideas about the stock market which was automatically assumed to be understood by everybody because duh!
Don't you just love it when two people discuss topics, and as a viewer you feel smart? I really love how they discuss things in a really understandable manner, it shows how much they understand these topics.
Man it's a blast to see Patrick just rifing a bit. Fun to hear him laugh.
"Why is it called the Plain Bagel"
The same question could be asked to CoffeeZilla
Coffeezilla has answered that before - it's a line from The Iron Giant
He went from Coffee Break to Coffeezilla, he might restart in a years time as Coffeeholic.
@@PBoyle Patrick Boyle: Finance and TH-cam Naming Origin Investigations
you mean "coffee time"
@@PBoyle 🤣
when i told my brother - who love's to evaluate and invest in stocks - about your channel and described it as financial guidance/education laid out in concepts and terms simple enough for even the layman to understand and he quickly said " ahh, that's why it's called the plain bagel. "
This idea of proposing your model or method in a job interview was eye-opening. A great idea! Works in almost any field, not just finance.
looking at this video again at february 2023 ,and i am grateful again for this video , thanks again for this video
Yay, Patrick Boyle on The Plain Bagel! I was one of his first subscribers and have watched him gain popularity over the past year but thankfully that popularity hasn’t changed the quality and content of Patrick’s videos. He’s a refreshing treat on an oversaturated channel. Thanks Plain Bagel for bringing both of you together.
Two of my favorite presenters. Both firmly in the no BS club.
The two most reliable guys to get financial advise and information from
I also found Patrick through the interview he did at Coffeezilla and have subscribed ever since. It's hard to make a educational channel about finance that is also fun to watch, but Patrick does a great job. Keep up the good work!
@@Factory051 By being smart?
Same. I find Coffezilla pretty annoying now but Patrick's channel is great.
Loved every minute of this. It was especially helpful to hear the ending as I am a CFA candidate and someone still on the hunt for a position as an investment analyst.
Thank you both for such great insight!
Fascinating interview! Listening to a discussion between two of my favorites finance teachers - Richard and Patric - is a real treat! Please do it again.
You two are the most trusted sources for me on TH-cam when it comes to finance and economics
I just wanted to say that I found both yours and Patrick's TH-cam channels in the past month. I'd say that both of your Evergrande videos caught me at the right time and sucked me in. Now I'm working through both of your back catalogues. Imagine my surprise to find both of you together? Good video and content. Thanks!
This was a really, really good discussion. Love how it went into market psychology and cycles a bit as well. Also, his tips on how to approach an interview/ career opportunity were awesome. Cheers -
I remember being in my 20s in the late 90s and discussing with friends how the internet stock money was fake because there no fundamentals behind 95% of the companies
Great talk, love how the questions were insightful and the video thumbnails for your channel aren’t clickbaity. I think what Patrick speaks about there being an intersection in terms of being good at what you do and loving that thing you do is exactly what I’ve found to be the driving force behind my successful career. The road to success is often times slow and boring and is paved with hard work
Withought a doubt my two favorite TH-cam hosts in the finance space now on the same video! Thank you very much for what was an awesome discussion that I thoroughly enjoyed
These are the only two economy channels I sub to, so this couldn't be a better combination!
Also wanted to say that even during a podcast, Patrick sounds very clear, focused and on point. Really a good lecturer.
How Money Works is pretty good too
Second time I watch this, such a great collaboration.
Wow insightful interview. I really enjoyed his perspective on quant trading strategies, and the importance of having the passion when it comes to this industry to succeed on your own.
Thank you for posting this!
thank you for giving real industry content. I've been learning and going to school to be in the position you guys are. thank you for this type of exposure
What a great interview! Please get Ben Felix too if possible.
36:04 this is real wisdom
I love following you both, Patrick and Richard. I love both what you do and how you do it. To me, it feels authentic and primarily done out of love. Thank you. 🙏
Two of my TH-cam finance favorites! :)
Instant like and then watch.
Two voices of experience is appreciated. I should have listened to Top Bagel PB, barely survived the meme disaster of 2022 sitting on a beach gambling. Lesson learned. Now what??
I think you are the ONLY youtuber on here that is 100 percent genuine please never lose your good character.
18:15 This is really golden thought I did not even realized. I am dividend/value investor because that is who I am beside investing. As Patrick said I love to get something good for cheap.
Well done, makes me realized something about myself
This is like a best of: a good featuring. Plain Bagel and Patrick ! Huge fan of both! Great video !
Been subscribed to both since the early days of them starting their channels… I’ve learned so much and have received offers at multiple PE firms!
I am subscribed to both channels for a while. Keep up the great content guys.
I discovered your channel from watching a video from Patrick Boyle channel,I really like to listen to both of your perspectives on things,in this video I really like about Patrick's idea on interview
Love both channels! Happy for this collab
I know I'm late to your channel but you. My friend are damn good with the information you provide you just got a new subscriber. This interview is gold...
I love lurking this channel. I always appreciate your work clarifying the market in layman terms and look forward to more of these interview videos!
FINALLY you guys collaborated... I have been waiting since Richard commented on Patrick's video
This is excellent advice for someone trying to break into professional financial services, thanks for having Patrick on.
When great minds come together. Thanks, guys
WWWWHHHAAATTTT?? I can't lay on the beach and get rich??? I don't like this guy he makes too much sense I'm going to send him some hate mail.
Richard, I totally agree..you’re one of the best and also the most trusted and most reliable financial You Tubers .You always provide your viewers with such interesting and high quality contents which we find to be most informative, insightful and helpful.Your research and knowledge about stocks and finance related matters are really impressive.Thank you sir, for all your amazing work.👍🙏🏽
Really great to watch. Please keep this up. Very informative.
Such a great, helpful and insightful video. It's a rare thing. Thank you for your work.
I like this guy. He’s so smart and humble.
34:22 the most beneficial advice. Leave at or below your means people. Not at or above it. That makes the future and crisis easier to withstand.
This is one of the best videos about the insides of finance experts!!! Soo cool! Thanks cheers mate
My favourite 2 finance channels by a good margin. Well done and keep it up to both!
My two idols in terms of finance education. I am so grateful for you two
very cool! I watch both of you so super excited to see this video up!
Patrick, you should do more interviews!
And thanks Richard, great interviewing
Really liked this video! I think making this a series would be a great idea. I learnt a lot.
Thank you for this incredible interview. Such simple wisdom.
Love your channel, been watching for a while, and I've finally found out why it's called 'The Plain Bagel". I may sleep happily tonight!
I like what this guys says. It makes sense. You can't just choose an investment strategy, you first need to find out which suits you, what you are good at and which style you are confidant with.
VERY VERY USEFUL AND WELL THOUGHT OUT CONVERSATION. WHAT A GORGEOUS DEPARTURE FROM THE SLIMY SNAKE OIL BRIGADE OF FAKE "EXPERTS".....KEEP IT UP FOREVER, GUYS!!!
Yo!!!! 100% was waiting for this collaboration
i have watched this podcast 3 times in the last year, its a real gem
If someone had a bulletproof trading bot, they sure as shit wouldn't be slinging it on the internet. They'd be using it to make money lol.
Patrick is hilarious and great to listen to, especially for someone that hasn't got a clue and wants to get a better understanding of the financial market!!
My two favourite people !! More of this please ❤️
That was an excellent conversation, thanks for posting!
Patrick is my favorite living brain in this space by far.
Like Richard Fineman of finance.
Thanks!
We have witnessed the birth of something beautiful. I rebel against the idea this would be the last time we see these two masters together.
Great talk gents! Thank you both.
Looking forward to watching this. You are both legends
You two guys are the only channels worth of any attention in economy/investment domain!
Ben Felix is also a portfolio manager on TH-cam.
Money and macro is also good. It's a channel run by this Dutch professor.
Great tongue in cheek humour…love it,and its content…keep up the videos!..
I usually go for everything bagels, but I have been enjoying plain bagels content.
Amazing interview. Thankyou both
Great initiative , pls do continue to invite more inspiring people with actualy experience and compassionate to help others not losing their money and dreams
your advices so helpful! I'm using them and they always works
Great to see Patrick! It was a really good conversation. I like what Patrick says about investing time and interest. For me it’s something I struggle with as well as all retail investors who might have started over pandemic…. Now that I am back to work I don’t have a fraction of time to study… and stay on top of my investments… which is forcing me to look at a different style….You both are very similar in many ways in terms of your un dramatic presentation format and great dry senses of humour. Would love to see Antonio at Baby Farm Investments share ideas with you! Also someone with more pizazz Charlie at Ziptrader! Also the Humbletrader is someone who has integrity.
Awesome podcast/Interview episode. Very informative and entertaining. Keep up the good work.
You guys should get together and do another podcast, a lot has happened in the last year and you both have made a ton of great content about it.
Glad I discovered you with this great interview!
Thank you guys for a really enlightening discussion.
amazing video! you both are such a joy to listen to
I always assumed Plain Bagle just represented “here’s the core product , go add any toppings or sides you want”
I haven't started this video yet but I can already tell it's going to be one of my favourites 😊
Been trying to study trading and YT has thrown a bunch of 20-something yo's at me.. I've though "no way you've have had time to be successful". Thank you for this. now I have an actual path to study along.
I was already subscribed to both of you. You two and Ben Felix are the only licensed professionals I know of on TH-cam.