Office Hours: The Power of the Apple Car, the University of Austin’s Missed Opportunity, and the Algebra of Wealth

Time Management

Managing investments effectively requires a balance between focus and diversification. Scott Galloway advises that once an investment strategy is in place, it is crucial to spend less time on it unless it brings personal enjoyment or learning opportunities. He shares his own experience with Apple stocks, emphasizing the importance of letting time work in your favor:

I bought Apple in 2008 at $12 a share. It's 160, but it never had one huge year. It just kept creeping up.

--- Scott Galloway

Scott suggests focusing on honing skills and planning around savings and investment strategies, rather than constantly monitoring the portfolio 1.

   

Wealth Building

Building wealth is a gradual process that relies heavily on saving, diversification, and minimizing fees. Scott Galloway points out that day trading often resembles gambling, with most traders losing money. Instead, he recommends setting realistic financial goals and focusing on saving money, as wealth is more about how much you save than how much you earn.

Your wealth is more a function of how much money you save as opposed to how much money you earn or how well your investments do.

--- Scott Galloway

Scott emphasizes investing in good companies or ETFs and then leaving them alone, as this approach is more likely to yield long-term success 2.