How the Ex-Goldman CEO actually invests his own money
6/16/20261 hr 1 min
Get our Investment Guide: https://clickhubspot.com/rgek Episode 834: Sam Parr ( https://x.com/theSamParr ) sits down with former Goldman Sachs CEO Lloyd Blanfein ( https://x.com/lloydblankfein ) to talk about what he does with his money. — Show Notes: (0:00) Lloyd on Money, Day Trading, and Feeling “Rich” (3:52) Meeting Elon (5:23) What the worst traders have in common (9:54) Warren Buffett’s handshake deal (15:04) Lloyd breaks down his portfolio (20:41) Advice to young investors (23:09) biggest mistakes (25:54) Anxiety as a superpower (27:54) Family finances (31:35) Scarcity (40:46) The Goldman Obituary Test (43:53) Lessons from history — Links: • Streetwise - https://www.penguinrandomhouse.com/books/780438/streetwise-by-lloyd-blankfein/ — Check Out Sam's Stuff: • Hampton (joinhampton.com): My community for founders. Average member does $25m/year. Many of the guests are members. Get after it...apply: http://joinhampton.com/mfm — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Shaan uses Mercury for banking across all of his companies. you can too: http://mercury.com/ Mercury is a fintech company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC • I run all my newsletters on Beehiiv and you should too + we're giving away $10k to our favorite newsletter, check it out: beehiiv.com/mfm-challenge My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano /
Clips
Transcript preview
First 90 secondsLloyd Blankfein· Guest0:00
The difference between somebody who's really, really good and somebody who can't make it is not that great.
Sam Parr· Host0:05
Goldman Sachs senior chairman and former CEO Lloyd Blankfein. Your portfolio as a pie chart, what does it look like right now?
Lloyd Blankfein· Guest0:11
I invest in risky assets. That's what's fun for me. I would say that 98% are equities.
Sam Parr· Host0:17
What are some of your biggest holdings?
Lloyd Blankfein· Guest0:18
This is gonna be controversial. I don't know who I'm gonna upset, but, you know, it's like- Are you trading every day? Yes.
Sam Parr· Host0:23
That's crazy.
Lloyd Blankfein· Guest0:24
No, it's not. It's, like, taking a lot of discipline not to look at my screen while I'm talking to you.
Sam Parr· Host0:28
Right now.
Lloyd Blankfein· Guest0:28
It's like that.
Sam Parr· Host0:29
[laughs] So you're bullish on big tech. Anything else?
Lloyd Blankfein· Guest0:32
It's been good to be bullish on big tech, and I'll stop being bullish on it when it stops going up.
Sam Parr· Host0:36
What did the people who couldn't outperform, what did the bottom half have in common?
Lloyd Blankfein· Guest0:41
The bigger takeaway is that- [singing] I feel like I could rule the world.
Speaker 3· Soundbite0:46
I know I could be what I want to. Uh. I put my all in it like no days off. On the road less traveled, never looking back.
Sam Parr· Host0:53
The reason why it's interesting to talk to you is because I'm pretty good at building companies. You know, I built a company that was doing almost twenty million in revenue by the time I was thirty-one. But I'm like, I don't know anything when it comes to investing. My portfolio is basically eighty- Nobody, nobody knows anything. Well, that's what I've learned. Uh, [laughs] but it seems like you know a lot.
Lloyd Blankfein· Guest1:08
Well, because I'm so on the inside, unlike a lot of people, I know nobody knows anything, whereas everyper- everybody else just wonders.
Sam Parr· Host1:15
Well, that's cool. And so the m- so I'm gonna th- ask you a ton of questions, and it's come-- and it's gonna come from a perspective of, like, I actually don't know what I'm doing. B-- And the majority, my, my portfolio is, which I actually think is smart, is just ninety percent index, ten percent bonds.
Lloyd Blankfein· Guest1:27
Well, that's sensible.
Sam Parr· Host1:28
But you day trade, which