Masters in Business: Patrick O’Shaughnessy

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
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This week, the “Masters in Business” podcast returns for the 2015 season. We kick off the year with a special youth edition. I speak with Patrick O’Shaughnessy, principal at O’Shaughnessy Asset Management and author of "Millennial Money: How Young Investors Can Build a Fortune."

 O’Shaughnessy takes a contrarian position about young people. Rather than lament the state of the economy or the cost of student loans, he is focused on the singular advantage that people in their 20s and 30s have: time.

Despite the difficulties of the recent economy, the prime benefit of being young is having a very long investment horizon, he says. That 40-to-50-year window allows the miracle of compounding to take place over many decades. This leads to results that significantly outpace those of folks who begin their portfolio building in their 40s or 50s.

You can download the podcast here or on Apple iTunes. All of our prior podcasts are available on iTunes.

Next week, we speak with bond investor Bill Gross, formerly of Pimco, now at Janus Capital Group.

This column does not necessarily reflect the opinion of Bloomberg View's editorial board or Bloomberg LP, its owners and investors.

To contact the author on this story:
Barry L Ritholtz at britholtz3@bloomberg.net