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Jeff Ross

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58
first
2022-02-02
most recent
2022-02-02
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1
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podcast

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  1. “Just show them like it's kind of do you remember those old commercials like here's your brain and here's your brain on drugs and they'd crack an egg and show it frying in the frying pan.”

    2022-02-02 · We Study Billionaires · BTC063: Potential Economic Tightening & Bitcoin w/ Dr. Jeff Ross (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  2. “Question. So, yeah, a lot of my original clients were with me because I was a good stock picker from the Motley Fool days, you know. And then along came Bitcoin. And I went down the rabbit hole kind of early 2019 and starting about that same time, I started really teaching my clients about that too. They were very, not all of them, right? But so the majority at least initially were very reserved. It's used by criminals. It's crazy money. It's anti-government and this is scary. And should we really be investing in this stuff? So I spent a lot of time on my monthly letters just like, hey, here's what I think about it. This actually isn't as scary as it sounds. It's actually good that it's decentralized and not controlled by a central bank. It's actually really secure. It's actually not only used by criminals. In fact, criminals hardly ever use it. And if they do, it's really stupid that they use it. So things like that. And so that helped us to get off zero to kind of a half a percent position than to a 1% and then to kind of a 5% position. And then at that point, I had actual hard data, right? So I had my clients who allowed me to put them in some Bitcoin and the ones who didn't.”

    2022-02-02 · We Study Billionaires · BTC063: Potential Economic Tightening & Bitcoin w/ Dr. Jeff Ross (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  3. “It year after year. And so I think we're just going to continue to see that probably right up until money actually dies and we have a true crisis and confidence in our currency. And then what's going to happen after that is probably going to be a disaster. But thankfully, we have Bitcoin.”

    2022-02-02 · We Study Billionaires · BTC063: Potential Economic Tightening & Bitcoin w/ Dr. Jeff Ross (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  4. “Absolutely. In fact, because I think what the market is sniffing and value stocks are sniffing out is that we're actually for once at least for a short time. We're getting serious about our trying to actually have a serious currency, but that only lasts, as we know, for months, maybe a few quarters. This time, I think it only is going to last a few months before they turn right back. Like right now, they're talking about tightening. I don't think they last more than a couple quarters at the very most. And then they're right back to quantitative using again. And funny money goes on and risk on assets are going to blow up again. So I don't know that the Fed ever again can be serious about monetary policy. I just really don't. They've backed themselves in a corner. I really think we're in the final stages of this Keynesian economic experiment where, you know, credit rules, your ability to borrow cheap credit have access to the credit markets, that rules everything. And then if you can put that into high revenue growth, those are the companies that crush it. That's why we see all these tech stocks just crush.”

    2022-02-02 · We Study Billionaires · BTC063: Potential Economic Tightening & Bitcoin w/ Dr. Jeff Ross (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  5. “Yes. In fact, and I hate saying this because I really like my teachers and I feel like I had a good education. It was great. The finance courses, all they do is teach you these goofy academic models that literally, I just don't think they help. And I would talk to my teachers about that. I'm like, I'm just telling you, like, I do this for a living. These models, they give you a false sense of security that you know what you're talking about. It just doesn't work that way. And anyway, so yeah, and ironically, I kind of started out as more of a value investor, but as the decade went on and the world of funny money, the Fed money printing, all that stuff, I firmly believe that if your denominator doesn't work in all of your equations, no matter how good your equations and how well intentioned they are, you don't get accurate results. And so I just think that it kind of blew out, you know, growth blew out value investing. And so I had to morph my hedge fund. I was just getting these kind of cruddy results as a value-based healthcare fund. And then I switched over to more of a growth mentality. And then along came Bitcoin. And we can talk about.”

    2022-02-02 · We Study Billionaires · BTC063: Potential Economic Tightening & Bitcoin w/ Dr. Jeff Ross (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  6. “Window and said open, and I waited. And for eight months, I had no clients. I just was like, all right, let's do this. Literally everybody, even my attorneys, my super nice, this lawyer who was helping me out, he's like, Jeff, I just got to tell you, you have like less than 2% chance of succeeding. There's no way you're going to make it. Like you're just some random dude in Colorado and your doctor and you have no connections on Wall Street. You're never going to survive. And I'm like, thanks. I think I will, though. I'll figure it out. I have this quirky personality where I kind of like being told by people that I can't do something and just makes me want to try harder and kind of prove people wrong. Anyways, fast forward, I ended up getting my MBA in there in finance a couple years ago and kept growing Vailshire on the side as a side gig all the way up until actually September 2021 just finally retired from medicine because Vale Shire had finally grown to be big enough. I now have over 100 clients in a separately managed accounts so the RIA side of my business and then I also run my hedge fund as well. So having a ton of fun.”

    2022-02-02 · We Study Billionaires · BTC063: Potential Economic Tightening & Bitcoin w/ Dr. Jeff Ross (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  7. “Medicine. I remembered that I loved investing. And so I started a blog at that time teaching people how to invest on their own. Did that for like a year or two? And first I got picked up by a motley fool and started writing for them. And then I started doing stuff for seeking alpha. Had built up enough of an audience at that point of people who were like, hey, we really love your style. We think you seem like a good guy. Could you manage our money? I was like, oh no, I'm just a doctor. I just do this kind of for fun on the side. But it put a little bug in my brain. I'm like, man, if I could do this for a living, that would be kind of fun. And medicine's pretty intense. I was on call every fourth night as an interventional radiologist doing my stuff there. But I started thinking about it. And then fast forward a little bit, 2013, I ended up founding Vailshire Capital Management and then started this hedge fund in 2014. So it's called Vail Share Partners. It's a long, short healthcare and technology centered hedge fund. Literally no clients when I started $120,000 of my own money. I just turned the shingle around and my”

    2022-02-02 · We Study Billionaires · BTC063: Potential Economic Tightening & Bitcoin w/ Dr. Jeff Ross (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  8. “Backstory time. Yeah. So started in college. I loved investing and I wanted to be a doctor and I needed to make a decision. And so I decided to be a doctor, obviously. And once you go down that pathway, you're sort of stuck on that pathway if you kind of know how that works. So I did my kind of pre-med coursework in college, got to med school, did four years in medical school, and then I did six years in residency and fellowship. Finished that in 2008. So when I finished that, I was a board certified diagnostic radiologist and a fellowship-trained interventional radiologist. The latter is basically image-guided, minimally invasive surgery. So when I got out, the job market was fantastic. I could move anywhere in the US pretty much that we wanted. So my wife and I talked about it. We thought, Colorado, we grew up in Minnesota, did our training in Milwaukee, and we always have loved the Rocky Mountains. And so first chance, we came out here. And so I've been out in Colorado Springs since 2008. Probably about a year into private practice.”

    2022-02-02 · We Study Billionaires · BTC063: Potential Economic Tightening & Bitcoin w/ Dr. Jeff Ross (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT