Ex-Hedge Fund Manager Patrick Boyle Talks Retail Trading, Fake Gurus and Bubbles
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- Опубліковано 30 вер 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 UA-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 :)
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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).
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 🥵🥵
"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 was my university lecturer. I can't thank him enough.
Where did u study?
@@JM4UA-cam UA-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
@@JM4UA-cam kings college uni
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 UA-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.
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.
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!
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.
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
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 😂
This video is like 2 super heros meeting to defeat the final boss
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 IS WHAT WE'VE WANTED!!!
Boyle is absolutely hilarious.
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.
I really like Patrick Boyle's content because it brings true knowledge upon us.
It's gold!
I wish had Pratick Boyle as a professor. He's awesome!
Great comment!
Not a professor.. THE Professor! 😅
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.
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.
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.
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
Man it's a blast to see Patrick just rifing a bit. Fun to hear him laugh.
The two most reliable guys to get financial advise and information from
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!
looking at this video again at february 2023 ,and i am grateful again for this video , thanks again for this video
You two are the most trusted sources for me on UA-cam when it comes to finance and economics
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!
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.
Second time I watch this, such a great collaboration.
very cool! I watch both of you so super excited to see this video up!
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.
Two of my favorite presenters. Both firmly in the no BS club.
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. "
"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 UA-cam Naming Origin Investigations
you mean "coffee time"
@@PBoyle 🤣
What a great interview! Please get Ben Felix too if possible.
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 -
Everyone: _Infinity War_ Is The Most Ambitious Crossover Event In History.
Richard: "Hold my beer."
Get Benjamin on
Hold my bagel
@@jamesmeow3039 yes!
Withought a doubt my two favorite UA-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
Fascinating interview! Listening to a discussion between two of my favorites finance teachers - Richard and Patric - is a real treat! Please do it again.
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
I just wanted to say that I found both yours and Patrick's UA-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!
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
36:04 this is real wisdom
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
Two of my UA-cam finance favorites! :)
Instant like and then watch.
I haven't started this video yet but I can already tell it's going to be one of my favourites 😊
yay Patrick Boyle ! :D :D feeling so blessed i found your Channels guys :3
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. 🙏
i have watched this podcast 3 times in the last year, its a real gem
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!
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.
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
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
FINALLY you guys collaborated... I have been waiting since Richard commented on Patrick's video
This video got me onto Patrick, so thank you!
I am super excited to watch this
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
Patrick looks like Jason Statham in financial world. 🙃
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!!
Let's go two best finance channels on UA-cam
Brilliant. Two of my favourite UA-camrs
Really great to watch. Please keep this up. Very informative.
Crying of laughter when Patrick mentioned donut at the end lol! Forgot about the Coffeezilla interview lol 😂
Great content boys, always enjoy it.
I am subscribed to both channels for a while. Keep up the great content guys.
I like this guy. He’s so smart and humble.
This was awesome
This is like a best of: a good featuring. Plain Bagel and Patrick ! Huge fan of both! Great video !
Yo!!!! 100% was waiting for this collaboration
Love both channels! Happy for this collab
Thanks for this interview, a lot of diamonds here💎
You, Patrick Boyle and ClearValue Tax are my favorite finance UA-camrs
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...
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.
When great minds come together. Thanks, guys
The fascination about markets, is that sellers are selling for a reason and buyers are buying for a reason, and both think that they are right.
You two guys are the only channels worth of any attention in economy/investment domain!
Ben Felix is also a portfolio manager on UA-cam.
Money and macro is also good. It's a channel run by this Dutch professor.
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!
The 2 best on the whole of UA-cam, right here in one video. Could it get any better?
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!
Such a great, helpful and insightful video. It's a rare thing. Thank you for your work.
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!!!
Patrick, you should do more interviews!
And thanks Richard, great interviewing
My favourite 2 finance channels by a good margin. Well done and keep it up to both!
Love learning from people looking not to sell me stuff,
I am a Patrick fan, first time bagel 🥯 listener
Great talk gents! Thank you both.
This is excellent advice for someone trying to break into professional financial services, thanks for having Patrick on.
That was an excellent conversation, thanks for posting!
I usually go for everything bagels, but I have been enjoying plain bagels content.
Really liked this video! I think making this a series would be a great idea. I learnt a lot.
Yo, that interview advice, come to the interview thinking about how to add value, is great. I'm gonna remember that one.
I'm in the middle of job hunting, so I will definitely be looking to use that advice.
Im loving this interview videos
This is one of the best videos about the insides of finance experts!!! Soo cool! Thanks cheers mate
amazing video! you both are such a joy to listen to
My two idols in terms of finance education. I am so grateful for you two
Glad I discovered you with this great interview!
Given the meaning behind the channel name, the only suitable name for the podcast would be "The Cream Cheese Podcast"
Amazing interview. Thankyou both
so I watched Patrick’s interviews on some other channel and in answer to question “what other channel you recommend?” he said: half donut!
well to me a while to find the half don’t, as it turned out he mean plain bagel )))
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.
My two favourite people !! More of this please ❤️