Nick Maggiulli – Don’t Buy Individual Stocks

<p><strong>BIO: </strong>Nick Maggiulli is the Chief Operating Officer and Data Scientist at Ritholtz Wealth Management, where he oversees operations across the firm and provides insights on business intelligence.</p><p><strong>STORY:</strong> Nick invested in a stock he wasn’t familiar with just because his friends were doing it. He suffered a 78% loss.</p><p><strong>LEARNING:</strong> Don’t buy individual stocks. Trust your gut.</p><p>&nbsp;</p><blockquote class="ql-align-center"><strong>“If you’re going to gamble, just wager less.”</strong></blockquote><blockquote class="ql-align-center">Nick Maggiulli</blockquote><p>&nbsp;</p><h2>Guest profile</h2><p><a href="https://www.linkedin.com/in/nicholasmaggiulli/" rel="noopener noreferrer" target="_blank"><strong>Nick Maggiulli</strong></a> is the Chief Operating Officer and Data Scientist at <a href="https://ritholtzwealth.com/" rel="noopener noreferrer" target="_blank">Ritholtz Wealth Management</a>, where he oversees operations across the firm and provides insights on business intelligence. He is also the author of <a href="https://ofdollarsanddata.com/" rel="noopener noreferrer" target="_blank">OfDollarsAndData.com</a>, a blog focused on the intersection of data and personal finance. His work has been featured in The Wall Street Journal, CNBC, and The Los Angeles Times. Nick graduated from Stanford University with a degree in Economics and currently resides in New York City.</p><h2>Worst investment ever</h2><p>It was the summer of 2021, and Nick was having a great night with some friends. One of his buddies, who’s pretty good at stock picking, told the group about this new exciting stock called Matterport (MTTR). Matterport is a virtual reality software that allows you to do 3D imaging of a room.</p><p>Up until this point, Nick had primarily been a passive investor. The friend convinced the group to invest in Matterport, saying it would be big. Nick put in about 1% of his net worth. The group didn’t do much research. They just discussed the stock in a group chat