Josh Brown, co-founder and CEO of Ritholtz Wealth Management, a New York City-based investment advisory firm managing over $5 billion, joins Julia La Roche on episode 199. Josh is a frequent commentator on CNBC's "Halftime Report," and the author of four books, including his newest, "You Weren't Supposed To See That: Secrets Every Investor Should Know."
✨ This episode is sponsored by Public.com. Lock in your 6.6% yield: https://public.com/julia ✨
Paid endorsement for Public Investing, Inc. Not investment advice. All investing involves the risk of loss, including loss of principal. Brokerage services for US Listed and registered securities, options and Bonds in a self-directed brokerage account are offered by Public Investing. ETFs, options and Bonds are available to US members only.
*A Bond Account is a self-directed brokerage account with Public Investing, member FINRA/SIPC. Deposits into this account are used to purchase 10 fractional investment-grade and high-yield bonds. The 6.6% yield is the average annualized yield to maturity (YTM) across all ten bonds in the Bond Account, before fees, as of 9/18/2024. A bond’s yield is a function of its market price, which can fluctuate, and a bond’s YTM is “locked in” when the bond is purchased. Your yield at time of purchase may be different from the yield shown here. The “locked in” YTM is not guaranteed; you may receive less than the YTM of the bonds in the Bond Account if you sell any of the bonds before maturity, or if the issuer calls or defaults on the bond. While corporate bond yields should fall in reaction to a Federal Reserve rate cut, we cannot know whether that will be true of the bonds in the Bond Account, how quickly bond yields will respond, or how much they will decline. Public Investing charges a markup on each bond trade. Bond Accounts are not recommendations of individual bonds or default allocations. The bonds in the Bond Account have not been selected based on your needs or risk profile. Fractional Bonds also carry risks including liquidity risk, interest rate risk, credit risk, inflation risk, and potential tax liabilities. Read more about the risks associated with fixed income and fractional bonds and learn more about the Bond Account at https://public.com/disclosures/bond-account.
Book: https://www.amazon.com/You-Werent-Supposed-See-That/dp/180409059X
Timestamps:
00:00 Introduction and welcome Josh Brown
02:05 The current state of the economy and markets
06:18 Abundance mindset vs scarcity mindset in investing
10:42 Josh's journey from blogging to meeting Barry Ritholtz
15:08 Overcoming imposter syndrome and taking risks
18:25 Josh's experience in boiler rooms and being honest about his past 21:30 Discussing Josh's personal story and education
25:58 "You Weren't Supposed to See That"
29:37 Current market trends and investment philosophy
34:20 The role of financial advisors during market volatility
38:45 Building a media empire in finance
43:12 The importance of communication in wealth management
47:30 Reflecting on career growth and luck in the industry
50:15 The asymmetry of putting yourself out there and final thoughts
