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Nick Maggiulli

What Nick Maggiulli thinks about investing

@nick-maggiulli · 20 positions · 1 change of mind · On ppll ↗

Writer of the personal-finance blog Of Dollars And Data and author of Just Keep Buying; COO at Ritholtz Wealth Management.

Nick Maggiulli did not write this page.

We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.

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Only Nick Maggiulli on investing. See everyone on investing

8 dated positions, 2023 to 2026, in their own words. Our reading of what Nick Maggiulli has said — not written or endorsed by them.

  1. Our readingNobody should take on a concentrated, illiquid asset that is correlated with their main source of income, because that same risk is why outsized rewards exist in the first place.

    Their wordsI'd never recommend that someone take on a concentrated, illiquid asset that is correlated with their main source of income, but then again, that's why these outsized rewards exist in the first place.

    ↗Is Startup Equity a Bad Deal?ofdollarsanddata.com 2nd of 3 in this piece

  2. 7 days earlier

  3. Our readingThe optimal portfolio is the one an investor can actually stick with no matter what happens in the world, not the mathematically best-performing one.

    Their wordsThis has convinced me that the actual optimal portfolio is the one that you can stick with no matter what the world throws at you.

    ↗What Was the Best Portfolio Over the Last 50 Years?ofdollarsanddata.com 2nd of 2 in this piece

  4. 7 days earlier

  5. Our readingGains earned too quickly can trap an investor in a position they feel unable to escape.

    Their wordsUnfortunately, gains generated that quickly can become a financial prison that you can't escape from.

    ↗Living Poor to Die Richofdollarsanddata.com 2nd of 3 in this piece

  6. 2 weeks earlier

  7. Our reading · no longer heldThe froth visible in US markets in 2025 was the 2021 mania returning, and reason enough to take risk off.

    Americastock market

    No longer holdsSince then U.S. stocks are up 16% (total return) and my bearish prediction turned out to be misguided.

    SaidMy issue wasn’t that the parallels didn’t exist—they did. My issue was that much of the speculative stuff of 2021 ended up failing (NFTs, DeFi, etc.) while much of the speculative stuff of 2025 (AI) seems to be succeeding.

    ↗Why I Was Wrong to Be Bearish on U.S. Stocksofdollarsanddata.com 1st of 5 in this piece

  9. Our readingAn investor's starting point should be the portfolio that is best to hold independent of any tactical market view

    stock market

    Their wordsit’s better to have a portfolio that can handle stocks whether they are overvalued or not

    ↗Why I Was Wrong to Be Bearish on U.S. Stocksofdollarsanddata.com 4th of 5 in this piece

  10. 4 weeks earlier

  11. Our readingRefusing to commit is the right strategy inside a portfolio and the wrong one everywhere else in life.

    Their wordsIn investing, non-commitment leads to better than average outcomes for the typical investor.

    ↗The Problem with Optionalityofdollarsanddata.com 1st of 2 in this piece

  12. 11 months earlier

  13. Our readingThe froth visible in US markets in 2025 was the 2021 mania returning, and reason enough to take risk off.

    Their wordsIt’s not that any one of these things represents a mania, but collectively they do. And I know what can happen after that mania.

    ↗Why I’m Bearish on U.S. Stocks (for the Second Time Since 2017)ofdollarsanddata.com

  14. 2 years earlier

  15. Our readingThere is no correct list of best investing books, only the books that speak to a given reader

    Their wordsIn the end, there is no "right" list of the best investing books. There are only those books that speak to you and those that don't.

    ↗The 11 Best Investing Books [That You Can't Miss]ofdollarsanddata.com