Welcome to Of Dollars And Data!
Hello there, I’m Nick Maggiulli (pronounced Ma-Julie) and I’m a data scientist and blogger at Ritholtz Wealth Management. I grew up in Southern California, got my degree in Economics at Stanford in 2012, and currently live in New York City.
I started Of Dollars And Data in January 2017 to illustrate how most traditional finance advice has failed us. For example, you have probably heard something along the lines of:
If you save $300 a month for 40 years while earning 8% a year, then you will retire a millionaire!
Or how about:
If you had invested $10,000 in Amazon at its IPO it would now be worth…
While mathematically both of these statements are correct, behaviorally they are both fantasy. No one’s life is ever so easy. No one has perfect insight into the future. No one knew how they would react when Amazon declined 90%+ in the DotCom crash. This is because we experience events all the time that change how we make financial decisions. We get married, have kids, lose jobs, get sick, experience loss, change careers, and so much more.
Life is dynamic, which is why your financial advice should be dynamic too. I won’t have the silver bullet to all of your financial woes, but I can help you to think about these problems in a new light. I am not going to revolutionize finance with the storytelling and data on this blog, but I do hope to give you a different perspective on many of these issues.
Ultimately, the goal of this blog is to get you to understand yourself at a deeper level. I want you to understand your biases, your wants, your strengths, your weaknesses, your values, and so on. Once you understand yourself, you will be far better equipped to address your investment and life needs.
With that being said, I hope you enjoy the stories and data visualizations I put together weekly for Of Dollars And Data. If you never stop learning, you will always be in a state of wonder. Thank you for reading!