Invest Like The Best
Episode 52 The Wu Tang Clan of Finance
Invest Like The Best

Episode 52: The Wu Tang Clan of Finance

The Wu Tang Clan of Finance

Josh Brown, Michael Batnick, and Barry Ritholtz are bloggers, podcasters, and advisors at Ritholtz Wealth Management. We cover how their team came together, what clients need to know, and what they're currently working on and thinking about.

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CFA Institute. CFA Institute is the global association of investment professionals whose mission is to lead the investment profession by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. CFA Institute serves a global community of investment professionals working to build an investment industry where investors' interests come first, financial markets function at their best, and economies grow. The chartered financial analyst credential is the most respected and recognized investment management designation in the world. The views expressed in this podcast do not necessarily represent the views of CFA Institute.

[00:02:35] – What stock best represents you

[00:05:09] – How was this team assembled at Ritholtz

[00:08:50] – Why larger asset management firms are slow to pivot on new technology

[00:10:00] – The humor of Barry on Twitter (@ritholtz)

[00:11:48] – What technology channels are working best

[00:13:08] – What would happen in a Ritholtz stock-picking contest

[00:15:19] – How do you keep investors from wanting to move money into or out of buzzworthy trades

[00:20:23] – Pricing out the news and the value premium

[00:23:41] – Why people want complexity and activity in their portfolios

[00:29:51] – People always want to be a part of the next frontier, example bitcoin

[00:33:13] – Exploring research in action and living the investments

[00:39:35] – Biggest argument against bitcoin could be the underlying utility and what will make it successful

[00:45:13] – The Hindenburg Omen

[00:46:34] – Scott Galloway and Aswath Damodaran on Bitcoin vs Gold

[00:47:38] – How the relationship with clients has evolved

[00:49:50] – Mike’s new book project that he is working on

[00:51:41] – Why the Mark Twain chapter is the most interesting in his book thus far

[00:53:32] – How a business should balance sales and marketing

[00:58:09] – Who would they draft to the Ritholtz team

[01:05:18] – Kindest thing anyone has done

The Wu Tang Clan of Finance

Introduction

Patrick
My guests this week don't need to be introduced. In celebration of the one-year anniversary of Invest Like The Best, I asked Josh Brown, Mike Batnick, and Barry Ritholtz to join me for an hour, during which I spent more time laughing than asking questions. I chose this team because they are the pioneers of mold-breaking honesty and personality in our industry. They all figured out that just being themselves yields incredible results. This is a strategy that everyone should try but very few do. Honesty and transparency require vulnerability, which is hard for most of us. I still struggle with it. But the evidence is in. The Ritholtz team has grown as fast as almost any RIA in the country. Listen to this and tell me you wouldn't want to spend your career working with people this friendly, funny, and open. Hell, I want to give them some money just so I have an excuse to drop by more often.

Thank you to everyone who has listened in the past year. We're past one and a quarter million downloads and growing fast. You own this thing as much as I do because the size helps me penetrate deeper and get the best people, which begets more listeners. This podcast is one hell of a discovery machine, and the first year was just our warm-up. We have a ton of new angles, formats, and events coming in year two, so stay tuned. But first, time to laugh in celebration of year one. Please enjoy my conversation with Team Ritholtz.

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