Protecting Your Portfolio in a Bubble, and Is a Move to America Worth the Money?
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Why does the American economy feel like a ticking time bomb in an overvalued market?
Megan Urpino here, this week on Why Are You Like This? I am talking with comedian Amber Ruffin. We dig into all the twists and the turns of her journey from losing the White House correspondence dinner and missing out on SNL to becoming a writer for Seth Myers and getting her own Peacock TV show. Plus, I'm giving you a behind-the-curtain look on Rebecca Hunt's documentary about me. Check out the latest episode of Why Are You Like This. this wherever you get podcasts and on YouTube.
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Welcome to Office Hours with Prop G, where we answer your questions about business, big tech, entrepreneurship, and whatever else is on your mind. If you have a question, send us a voice reporting at Office Hours of Prop G Media dot com or post your question on the Scott Galloway subreddit. We just might feature it in an upcoming episode. Question number one comes from Whiskey Ejack. All right. Hey Scott. Longtime listener and fan, for someone who has done all the right things in the realm of investment for my entire life, it's starting to feel like the American economy is a ticking time bomb. Can you give me some feedback on why that might be an irrational or emotional feeling? Even a diverse portfolio is starting to feel unsafe.
I could handle a short term twenty percent drop. How sure are you that we can bounce back and that a dollar cost average approach can still be the right way to invest in the coming years? I think everyone's asking this question. Uh but as my friends at Rittholz Management, uh Barry Rittholz and Josh Brown say, if you had bought stocks on days where they hit all time highs, you'd be up. You would have outperformed the market. In other words, yeah, is the market overvalued? Yes. But do we know when it's going to correct? No. And trying to time the market has proven to be impossible. And kind of the best strategy is to always be in the market. But perhaps when it gets this frothy by most traditional metrics or all traditional metrics, you may want to think about further diversifying such that if and when there is a correction, you have the Kevlar diversification.
But trying to guess when the top happens is dangerous. Probably my biggest investment mistake. Was the emotional reaction I had to the 2016 election of Donald Trump. I think that Donald Trump, um, and by the way, I've lost a lot of viewers here. I think it pays to be more tempered and not talk about politics on a show like this. But uh, in sum, I think the president is a fucking idiot and a stain on the American experience. And that the grand sum of all of these head up your ass economic. And and uh foreign policy decisions will eventually crash this economy or result in long-term structural damage that will take decades, if not generations, to repair. So when he was elected in twenty sixteen, I sold all my stocks.
That was stupid. The market ripped for the next year. There was so much insecurity about him actually winning that the fear had been priced in, stocks ripped up. The government is or the economy is an iceberg where I think 90 to 95% of it is below the surface.
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Chapters
5 chapters
1
Why does the American economy feel like a ticking time bomb in an overvalued market?
0:01–8:31
2
How can investors protect a diversified portfolio when valuations look frothy?
8:31–11:16
3
What strategies does Scott suggest for staying in the market during a potential correction?
11:16–15:18
4
Why did Scott’s 2016 emotional reaction to the election hurt his portfolio?
15:18–31:47
5
Should a Swedish life‑science professional move to the U.S. for greater opportunity?
31:47–37:01
Speakers
3 identifiedMore from The Prof G Pod with Scott Galloway
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