Masters in Business: Patrick O’Shaughnessy
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.
Next week, we speak with bond investor Bill Gross, formerly of Pimco, now at Janus Capital Group.
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Barry L Ritholtz at email@example.com