[Ep. 323] How Ego Gets in the Way of Smart Investing with Gil Baumgarten

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“In gambling, the odds are always favouring the house, with index funds you are the house.“
– Gil Baumgarten, Founder, President, and CEO of Segment Wealth Management

It seems like every other week there’s a new investment craze and before you can wrap your head around it everyone on social media is already on to the next one. In this week’s episode, I’m joined by a veteran of the investment industry to help navigate through all the investing noise. Gil Baumgarten is the Founder, President, and CEO of Segment Wealth Management and the author of FOOLISH: How Investors Get Worked Up and Worked Over by the System.

Gil Baumgarten has been a part of the investment industry for over 37 years and has been the multi-year recipient of the Top 1,200 Financial Advisors in America distinction by Barron’s. He started his career on Wall Street in the 1980s but found it routinely emphasized its own interests over the clients. In 2010, Gil left the brokerage world to start Segment Wealth Management, a fiduciary firm where the interests of the client and the firm could align. He launched his first book, FOOLISH: How Investors Get Worked Up and Worked Over by the System last spring.

In this episode Gil pulls back the curtain on Wall Street and why he ultimately decided to leave and do things on his own terms. Gil shares why a lack of understanding about short-term investing is what leads to major losses and ending up in high tax brackets. I also ask Gil what’s the difference he’s seen from working with high-net-worth individuals and what we can learn from their investment strategies.

Things Mentioned in This Episode

Grab a copy of Gil’s book, FOOLISH: How Investors Get Worked Up and Worked Over by the System
Jessica’s Instagram & YouTube channel
I’m giving away copies of all the books featured on this season of the podcast! To enter, visit jessicamoorhouse.com/contests
My free resource library, where you can find budget spreadsheets & more!
Apply to enroll in my investing course Wealth Building Blueprint for Canadians
Check out my shop!

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