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Author Topic: Dave Portnoy of Barstool Sports Losing Money in Stock Market  (Read 6137 times)

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Offline Chicago Bob

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #20 on: June 11, 2020, 12:26:47 AM »
It's obvious that Dave has been drinking a lot lately... He's just clowning around.  🤡
Was drunk and slurring yesterday on his lil blog.
I like him...
One bite, everyone knows the rules.🍕
« Last Edit: June 11, 2020, 12:56:59 AM by Chicago Bob »
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Offline Quebert

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #21 on: June 12, 2020, 12:12:37 AM »
Dude's pompous and a huge douche, I remember one of his pizza reviews he had Bobby Flay on. And he was trying way too hard to act like he was the mega star and Bobby was beneath him.  I get he's a youtube celebrity, but he's no Bobby Flay lol.

Offline Fiorot

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #22 on: June 12, 2020, 10:15:11 AM »
I think he is funny and creative for sure.  He is smart and I love his politics! And Bobby Flay is not a pompous ass?

Online jkb

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #23 on: June 12, 2020, 11:30:44 AM »
Dude's pompous and a huge douche, I remember one of his pizza reviews he had Bobby Flay on. And he was trying way too hard to act like he was the mega star and Bobby was beneath him.  I get he's a youtube celebrity, but he's no Bobby Flay lol.

Bobby lost me when he cheated on his wife.  I have zero tolerance for that sort of thing.
John

Offline Chicago Bob

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #24 on: June 12, 2020, 04:42:15 PM »
I think he is funny and creative for sure.  He is smart and I love his politics! And Bobby Flay is not a pompous ass?
   I believe Flay is the originator of the pompous ass tv food guy persona, no?  🤡
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Offline Quebert

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #25 on: June 12, 2020, 07:07:56 PM »
   I believe Flay is the originator of the pompous ass tv food guy persona, no?  🤡

Nah, I've heard stories he's like that in real life, but on TV he's personable and comes across as a pretty likable dude. Gordan Ramsy, now there's a pompous asshat. Dave's much closer to Ramsy than Flay. Now in real life Flay might be as bad as either, but if so Food Network hides it in his shows.

But maybe I'm wrong about Dave, in his defense I've only seen maybe 5 of his videos. One of which he was trying hard to play alpha male with Flay next to him, and one he was reviewing 7-11 pizza on a street corner and trying to be critical of it lol.
« Last Edit: June 12, 2020, 07:11:21 PM by Quebert »

Offline wotavidone

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #26 on: June 13, 2020, 09:46:54 PM »
Very tough way to make a living. I'd bet 99% of all who try lose. I tried it for a bit and never made enough to spend all the time at it.
I see now that my recent new thread about the Barstool Sports guy was superfluous, as plenty had already noticed his antics.
All BS aside about whether you like the bloke or not (which I'm sure he couldn't care less about.  ::) ), I do want to comment on making money in the share market.
It is indeed a very tough way to make a living.
Day trading by yourself is gambling, pure and simple.
You're up against the dark pool, and the high frequency traders with their algorithms, their hot wired servers and their super fast execution speeds.
You cannot possibly do enough research by yourself to pick winners consistently.
I day traded for years. Made some, lost some, missed great opportunities due to cold feet, selling too early, etc.
I now consistently make money.
I started making that consistent money when I started paying a professional advisor.
The man is a Buffet fan, and doesn't condone or recommend day trading at all.
Like Buffet, he says pick good companies with good prospects and buy at fair prices.
You need a professional researcher to get that right.
He sends me one recommendation a month. If I have spare cash, I invest and hold.
Accept, too, that unless you are a full time investor, the goal should just be to get a better return on your money than you can get at the bank.
Unlike Aussie banks though, there is no capital guarantee.
So the last point is: don't use money you can't afford to lose, even the pros get it wrong sometimes.

« Last Edit: June 13, 2020, 10:02:45 PM by wotavidone »
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Offline rlslmshdy

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #27 on: June 13, 2020, 10:55:24 PM »
Dude's pompous and a huge douche, I remember one of his pizza reviews he had Bobby Flay on. And he was trying way too hard to act like he was the mega star and Bobby was beneath him.  I get he's a youtube celebrity, but he's no Bobby Flay lol.
I love Dave and his pizza reviews. No offense but if someone thinks he's a douche. They just dont get him and need to work on their sense of humor.

Offline rlslmshdy

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #28 on: June 14, 2020, 05:07:26 AM »
Hes made an internet star from Uber Debbie. His Uber driver when he was in Connecticut doing pizza reviews. He flew her down to the Daytona 500. Hes let her do one bite frozen pizza reviews during the pandemic. I'm betting Dave has helped change her life for the better.

Online jkb

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #29 on: June 16, 2020, 10:13:20 AM »
I see now that my recent new thread about the Barstool Sports guy was superfluous, as plenty had already noticed his antics.
All BS aside about whether you like the bloke or not (which I'm sure he couldn't care less about.  ::) ), I do want to comment on making money in the share market.
It is indeed a very tough way to make a living.
Day trading by yourself is gambling, pure and simple.
You're up against the dark pool, and the high frequency traders with their algorithms, their hot wired servers and their super fast execution speeds.
You cannot possibly do enough research by yourself to pick winners consistently.
I day traded for years. Made some, lost some, missed great opportunities due to cold feet, selling too early, etc.
I now consistently make money.
I started making that consistent money when I started paying a professional advisor.
The man is a Buffet fan, and doesn't condone or recommend day trading at all.
Like Buffet, he says pick good companies with good prospects and buy at fair prices.
You need a professional researcher to get that right.
He sends me one recommendation a month. If I have spare cash, I invest and hold.
Accept, too, that unless you are a full time investor, the goal should just be to get a better return on your money than you can get at the bank.
Unlike Aussie banks though, there is no capital guarantee.
So the last point is: don't use money you can't afford to lose, even the pros get it wrong sometimes.

I've always gone for low P/E value stocks.  Whenever there's a downturn, that's where people move their money.  In 30 years,  I've never done worse than 7%.
John

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Offline jsaras

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #30 on: June 16, 2020, 10:53:47 AM »
Portnoy is currently up 400%, so heís had some good days at the casino.  As for me, Iím a Boglehead investor.  No need to beat the market.  I am the market.
Things have never been more like today than they are right now.

Offline Rolls

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #31 on: June 16, 2020, 08:40:55 PM »
I am the market.

This reminds me of the phrase, "L'…tat, c'est moi" attributed to the Sun King, Louis XIV of France. :)


Rolls
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Offline punkrockchris

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #32 on: June 18, 2020, 10:54:49 AM »
Had both, kept the j-45 because it sounded better... and the d28 was 1955!

Wow, I have a Gibson I'll never part with, but D28's are so even.

Offline quietdesperation

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #33 on: June 20, 2020, 11:35:21 PM »
Portnoy is currently up 400%, so heís had some good days at the casino.  As for me, Iím a Boglehead investor.  No need to beat the market.  I am the market.

except for bets on two tech stocks that I thought couldn't miss (google and facebook), I've been index-fund only for 25 years. I've performed several consulting projects around performance and performance attribution for large, well-known asset managers and I find it hard to believe that anyone here, or their professional advisors, can select individual securities whose aggregate return beat index funds over a long period of time.

I understand Portnoy's sense of humor, have found a couple of his videos mildly amusing, but mostly can't stand his shtick.
« Last Edit: June 20, 2020, 11:40:23 PM by quietdesperation »
jeff

Offline Chicago Bob

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #34 on: June 20, 2020, 11:56:25 PM »
except for bets on two tech stocks that I thought couldn't miss (google and facebook), I've been index-fund only for 25 years. I've performed several consulting projects around performance and performance attribution for large, well-known asset managers and I find it hard to believe that anyone here, or their professional advisors, can select individual securities whose aggregate return beat index funds over a long period of time.

I understand Portnoy's sense of humor, have found a couple of his videos mildly amusing, but mostly can't stand his shtick.
ok... So what index funds?
I got out of TRBCX in early March... Got back in at beginning of the V.... I'm up 37.0..  I think there's a bit left before the start of the W..  but unsure where to go to pick up the last lil scraps
Any help?  🤫
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Offline quietdesperation

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #35 on: June 21, 2020, 02:46:33 PM »
Bob, no one can consistently time the market, I suggest you choose a vanguard retirement fund with the year of your retirement and be done with it. on a risk-adjusted basis, the fund will outperform the vast majority of active funds and any sort of tinkering you can do around choosing index funds and timing the market.

If you want to be a little more hands-on, take a look at this:
https://www.bogleheads.org/wiki/Three-fund_portfolio

you could also take a look at paul merriman, I beleive peter uses his investment philosophy:
https://paulmerriman.com/

Interestingly,  I don't recall meeting one person on wall st who had heard of bogleheads/merriman or used passive investing. I was able to use this lack of knowledge to my advantage: I have a yearly dinner bet with the former coo of a large brokerage that the broad Russell 2000 will beat any investment strategy he chooses. He's bought me dinner every year for the last five years....

best,
« Last Edit: June 21, 2020, 03:00:58 PM by quietdesperation »
jeff

Offline Pete-zza

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #36 on: June 21, 2020, 04:04:42 PM »
Bob,

QD makes several good points. However, if you have a portfolio of investments, your next steps should take your age into account to be sure that you have the right asset allocation for your age and your financial needs and your risk tolerance. Remember also that people in general are living longer, so that has led some experts in investing to suggest increasing the stock part of oneís portfolio.

Peter


Offline quietdesperation

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #37 on: June 21, 2020, 07:22:34 PM »
Bob,

  peter's advice about looking at individual investments in the context of age and overall asset allocation is spot on. The beauty of the vanguard retirement funds is that you choose a retirement age and vanguard manages your investment and asset allocation as you age:

https://investor.vanguard.com/mutual-funds/target-retirement/#/

I use a 40-60 fixed income to equities allocation with five percent rebalancing bands. I sell equities when they exceed 65 percent of my portfolio and buy equities when they comprise 35% of my portfolio or less. This results in taking profits when equities are high and buying low, the opposite behavior of most of retail investors.

best,
« Last Edit: June 21, 2020, 07:24:50 PM by quietdesperation »
jeff

Offline Pete-zza

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #38 on: June 22, 2020, 03:55:07 PM »
QD,

I have noticed that there have been quite a few articles and blog posts, both recently and also last year, about the future of the classic 60/40 portfolio (e.g., see https://awealthofcommonsense.com/2019/10/a-eulogy-for-the-60-40-portfolio/). And today I read an article where Burton Malkiel was asked about the future of the 60/40 portfolio, especially at this time where bonds have ended a 40-year boom (a view also recently shared by Jeremy Siegel in a podcast at https://www.bloomberg.com/news/audio/2020-06-19/jeremy-siegel-on-the-stock-market-and-covid-19-podcast). The article by Malkiel, which also covers a lot of other interesting information, is at:

https://www.marketwatch.com/story/investing-legend-burton-malkiel-on-day-trading-millennials-the-end-of-the-6040-portfolio-and-more-2020-06-22

As you will see from the Malkiel article, he favors including defensive stocks that have good yields in lieu of bonds with low returns. In that vein, today I saw the following article from Alliance Bernstein that advocates a similar approach but in the context of target retirement funds:

https://blog.alliancebernstein.com/library/how-target-date-funds-can-use-equities-for-stability?mid=corpblog001&seg=65

Vanguard tends to favor the inclusion of bonds in one's portfolio, and especially for retirees but I have never been a proponent of that method even though I have owned bonds from time to time over the course of my investing career. Bonds do provide stability in down markets but the durations of the bonds has to be carefully managed to avoid sharp drawdowns in the bond part of the portfolio. For now, I would rather hold cash instead of bonds. I don't worry about the loss of purchasing power. My personal CPI is a lot lower than the CPI reported by the U.S. Bureau of Labor Statistics.

Peter




Offline quietdesperation

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Re: Dave Portnoy of Barstool Sports Losing Money in Stock Market
« Reply #39 on: June 24, 2020, 09:48:40 AM »
peter,

  thank you for the links. I've never been a believer in a one size fits all, 60-40 portfolio. imo, aa should be based on age, risk, and ability of the investor to behave rationally in the face of market retreats. I'm currently at 40-60, equities to fixed income, and to your point around the current interest environment, the majority of our fixed-income allocation is in a cd ladder and some tips.

Our investment philosophy has been heavily influenced by Bill Bernstein:
A lot of people had won the game before the [2008] crisis happened: They had pretty much saved enough for retirement, and they were continuing to take risk by investing in equities. Afterward, many of them sold either at or near the bottom and never bought back into it. And those people have irretrievably damaged themselves. I began to understand this point 10 or 15 years ago, but now Iím convinced: When youíve won the game, why keep playing it?

How risky stocks are to a given investor depends upon which part of the life cycle he or she is in. For a younger investor, stocks arenít as risky as they seem. For the middle-aged, theyíre pretty risky. And for a retired person, they can be nuclear-level toxic.

====

over the course of my investing lifetime, I've heard again and again "this environment is different" as a rationale to choose new investment approaches. the wealth of common sense article in declaring the death of the 60-40 portfolio states:
60/40 was 91 years old and lived a long and prosperous life, returning more than 8.1% a year. This nearly matched the return of 60/40ís best friend, the S&P 500 (9.5%) but it did so with 40% less volatility.

to my eye, it seems ludicrous to declare the 60-40 portfolio dead, a strategy which the author states has succeeded for 91 years, due to a 1-3 year outlook on bonds.  I do agree the vanguard target retirement funds use bonds and there are valid concerns around bonds in this environment. However, I believe the average investor would be far better served with a target-date fund as opposed to market timing/choosing individual securities.

best,

 
« Last Edit: June 24, 2020, 09:58:55 AM by quietdesperation »
jeff

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