How I Invest My Money: Finance experts reveal how they save, spend, and invest by Joshua Brown

Introduction
I RAN THE numbers. I’ve been appearing on financial television for nine and
a half years. During those approximately 114 months, I’ve done an average
of three shows each week, which works out to something like 1,368 hours
of television time talking about the stock market, the bond market, the
economy and investing.
And in all of that time, not one person has ever asked me about what I do
with my own money. Not one.
I’ve commented on everything under the sun: Interest rates, valuation
multiples, earnings calls, Federal Reserve policies, tax code changes,
housing prices, credit spreads, innovation and technology, consumer
confidence, trading strategies, small business ownership, macroeconomics,
microeconomics, emerging markets, index funds, active management,
shareholder activism, real estate investment trusts, volatility, private equity,
venture capital, initial public offerings, oil and gas prices, technical
analysis, value investing, momentum stocks, smart beta factors, socially
responsible investing, social media, biotechnology and drug approvals,
presidential elections, geopolitics, natural disasters, defense contractors,
gold and silver, cryptocurrency, high frequency trading, Occupy Wall
Street, insider trading, analyst upgrades and downgrades, sectors and
industries, long-term investing, day trading, hedge funds, mutual funds,
exchange traded funds, gaming companies, sports business, show business,
startups, bankruptcies, mergers and acquisitions, and I even interviewed 50
Cent.
And in all of that time, not once did someone say, “Tell us about how you
invest your money.”
It never happened.
It’s not that I didn’t enjoy commenting on all of these topics, because I did.
But looking back on all that time, and all those words coming out of my
mouth, I’m amazed that the investing I do with my own money never
actually came up!
To remedy this, I wrote a post entitled “How I Invest My Own Money” at
The Reformed Broker blog. It was the first time I had ever written at length
about how I personally invest, and why I invest the way that I do. The post
went viral across all of the social networks I shared it to.
Soon after, I got to talking with my co-author and friend Brian Portnoy
about the topic and together we came to the realization that we had the
makings of something truly exciting on our hands.
We got to thinking about the fact that very few financial professionals have
ever written about their own personal finances and investments. We
wondered: What if we asked some of our friends and colleagues from
around the investing industry about what they do with their own money—
and why? No one’s ever really done it before.
Between Brian and I, we’ve read (and written about) hundreds of books on
investing. To the best of our recollection, every one of those books was
either advice for what other people should do, or a focus on a particular
investment strategy that the author carries out professionally. Even the
hallowed Market Wizards series, which we both love, was mostly about
how those wizards invested other people’s money.
Indeed, there is no shortage of books on how experts think you ought to
invest, but very few of the authors go into detail about whether or not they
even take their own advice.
In the pages that follow, you will be reading about investing and money
management from a very different perspective. You’ll be hearing from some
of the most thoughtful and interesting professional investors we know about
how they manage their own portfolios.

How I Invest My Money: Finance experts reveal how they save, spend, and invest by Joshua Brown