Nick Maggiulli of Ritholtz Wealth Management writes a blog, Of Dollars and Data, which combines his love of markets with his gift for writing about finance in interesting ways. He makes difficult financial concepts more approachable to the masses using anecdotes and analogies that even finance newbies can understand. Yet, his blog also draws in finance experts who find value in his thought-provoking analysis. I’ve cited quite a few of his articles in the NGPF blog, and I always look forward to his weekly missives to provide me with a new perspective or insight on the markets. Find out what hooked Nick on investing, his creative approach, what he reads to stay current and how he would teach high school students about money. Enjoy!

Details:

• 0:00–1:06 Introduction
• 1:07–4:52 Client Targeting, Acquisition, & Servicing: the whole nine yards
• 4:53–11:05 Early money lessons & the 2008 housing crisis
• 11:06–13:49 Hooked on economics
• 13:50–20:03 How his old notebook inspired his blog, Of Dollars and Data
• 20:04–20:31 A word from NGPF
• 20:32–23:59 How do you trade off time for money?
• 24:00–28:00 Focus on saving until you’re comfortable with investing
• 28:01–32:55 The philosophy of investing: Just Keep Buying
• 32:56–37:18 Falling to peer pressure & the power of influence
• 37:19–39:04 How his favorite blog post changed the course of his writing
• 39:05–41:12 Nick’s favorite resources to stay up-to-date and relevant
• 41:13–42:08 First stock he ever bought
• 42:09–43:01 First job he ever had & lessons learned
• 43:02–44:27 What he’s reading now
• 44:28–46:37 What he’d teach high schoolers about money
• 46:38– Conclusion

Blogs he reads

• Tadas Viskanta, Financial Blogger (NGPF podcast guest)
• Tony Isola, 403(b) Advocate (NGPF podcast guest)
• Michael Batnick (The Irrelevant Investor & Ritholtz blogger)
• Ben Carlson (A Wealth of Common Sense & Ritholtz blogger)
• Barry Ritholtz, co-Founder & Chief Investment Officer of Ritholtz Wealth Management

Other resources mentioned:

• Movie: The Graduate
• Documentary suggestion:
• TED Talk: Peter Attia, Longevity Expert
• #FinTwit on Twitter
• Bloomberg

Index Funds he suggests for new investors:

• S&P 500 Index Fund
• Bond Index Fund

Favorite Books:

• The Evil Hours: A Biography of Post-Traumatic Stress Disorder
• Deep Survival: Who Lives, Who Dies, and Why
• Influence: The Power of Persuasion

Nick’s top blog posts:

• The Most Important Asset
• Saving is for the Poor, Investing is for the Rich
• Just Keep Buying
• The Six Ways of Influence
• The Constant Reminder

QUOTES:

• “If you’re selling [your investments], it’s probably because you don’t have enough emergency cash or some other income that’s going to get you through your [financially hard times].”
• “What is risk really? It’s needing to spend money when you don’t have money.”

About the Authors

Danielle Bautista

Danielle is a native of Southern California and a recent graduate from the University of Maine, where she braved the frigid winters—a feat in and of itself—and earned her Bachelor's degree in International Affairs. She has a passion for working with non-profit organizations and serving populations in underprivileged communities. When Danielle isn't writing NGPF blog posts, spearheading various outreach projects, or managing contests and flash surveys, you can find her doing some sort of outdoor activity, learning a new hobby, or cracking what she thinks are witty puns!

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.