Peter Lazaroff: The Perfect Portfolio: A Proven Guide to Smart Investing for Long-Term Success

Peter Lazaroff (0:00)

I love that story. I was one of these strange children who had an idea of what they wanted to do when they grow up and had it be true. And what I wanted to do when I grew up was to be involved with stocks in some manner. Now, where that manifested from was that on my 12th birthday, my grandmother gave me a share of Nike stock. So that was my first exposure to investing. And I remember, so I have a December birthday.

My family is a mixed religion family, so we celebrate Hanukkah and Christmas, and my birthday is December 20th, so it's all mixed up in there. And so, look, when you're a 12-year-old and the gifts are just rolling in, and grandma gives you a piece of paper that says Nike on it, you're a little bit, I was disappointed. I was a little like, okay, thanks, grandma.

But then she started explaining to me, well, those Nike shoes that you're wearing and that Nike t-shirt and the hat, and what Michael Jordan is wearing, and all these things. You now own a part of that company. And even then, I'm like, okay, that's still not that interesting. But here's what really got me was, maybe a week or two later, a dividend check came in the mail for $1. And what was interesting is by the time she had given me, the share of Nike had already split, and it split again a couple of times within the first few years. But I remember getting these $1 checks in the mail, and being like, I didn't even have to work for this. This is amazing. I need to learn more about this. And at that point, it was something that I took a lot of interest in. I remember asking my parents to go to the bookstore to pick out a book on investing. Peter Lynch had written a book geared towards teenagers, but I remember reading that and just being totally hooked. And so from that moment on, I knew that I wanted to do something with stocks. And today, I think of my role. I was an advisor. I started actually as a stock analyst, and I became an advisor to clients, much like yourself. And now I'm Chief Investment Officer. I can now just help people make good decisions with their money. And I love how you often talk about fulfilling goals, and this just being a vehicle, and the bigger why behind all of this. And the other technical stuff gets me excited. But I think in the new book and in a lot of my work, it's not just about what's technically right. It's about what can you actually stick with? What can you handle? And why are we even doing this in the first place? So grandma really hit it, really hit the jackpot with my grandmother setting me on the right path and very appreciative of that. And even gifted my children a share of Nike stock. More as a symbolic gesture for their first stock, not because I was like, oh, this is a good company. In fact, Nike stock has done quite poorly since I've gifted it to my children to get them going.

But you know, it's really like a fun way to get kids interested in the science and the whole realm of investing.

Bogumil Baranowski (3:09)

Welcome to Talking Billions. We talk about big ideas, big inspirations, big topics. We take on the hardest topic of all, money. How to make it, save it, keep it. But our conversations lead us to an even bigger question, what it means to live a rich life beyond money.

My guests share their practices, principles and evergreen wisdom.

I'm your host Bogumil Baranowski, author, TEDx speaker and investment advisor to wealth creators with patient capital and an infinite investment horizon. I work with families and individuals who aspire to grow wealth over a lifetime and generations through disciplined, thoughtful investments in durable quality businesses, while giving money meaning. Join me on this quest to unearth and share the wisdom of the ages. Let me share with you the podcast program disclosure statement. Blue Infinitas Capital, LLC is a registered investment advisor and the opinions expressed by the firm's employees and podcast guests on the show are their own and do not reflect the opinions of Blue Infinitas Capital. All the statements and opinions expressed are based upon information considered reliable, although it should not be relied upon as such. Any statements or opinions are subject to change without notice. The information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. The information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal or investment advisor to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.