BIO: Garrett Roche is Chief Investment Strategist at Uxbridge Capital Advisors, a private wealth advisory firm in New York City.

STORY: Garrett got caught up in the Nokia stock when the technology bubble hit. He hung on to the stock for too long even though it was clear the stock was not about to go up. He lost 60% of his investment.

LEARNING: Take a macro view when picking stocks. Have an average of 10 investments in your portfolio.

 

“Don’t get caught up in the details of a single stock holding and focus so much on the fundamentals that you live in.”Garrett Roche

 

Guest profile

Garrett Roche is Chief Investment Strategist at Uxbridge Capital Advisors, a private wealth advisory firm in New York City.

He assists HNW individuals, family offices, and endowments with investment portfolio strategy, economic and market trend-spotting, and portfolio and trading risk management.

Previously he was a Global Investment Strategist at Bank of America Merrill Lynch, a senior research analyst, an economist at PricewaterhouseCoopers, a strategic financial analytics manager at JPMorgan Asset Management, and a credit portfolio analyst at Garnet Capital Advisors LLC.

He holds a BA in finance and accounting from the National University of Ireland, as well as an MS in economics and an MA in public affairs from University College Dublin, Ireland. He is also a CFA charterholder, and an FRM certified financial risk manager.

Worst investment ever

Garrett was attracted by the Nokia stock and got into it when it was selling at around $13 in the summer of 1999. He then bought more stocks at $21 in early 2000. He rode it up to $34. Then the tech bubble started to burst across the telecom landscape.

Seven weeks later, the stock fell by 40%. Garrett decided to hang on and got caught up in a bull trap. The stock price would go up a little then go down again. It was a complete roller coaster.

By September 2001, Garrett had lost about 60% of his original investment. This is the point where he decided to sell.

Lessons learned

• Don’t get caught up in the detail of a single stock holding where you’re focused so much on the fundamentals that you live in.
• Stand back and take a macro view that incorporates a broader picture of your investments.

Andrew’s takeaways

• Stop losses can bring value.
• Portfolio construction is very critical. Have an average of 10 investments in your portfolio.

Actionable advice

Take a step back when you’re entirely compelled about a narrative around a stock, especially if it’s in a new industry.

No. 1 goal for the next 12 months

Garrett’s number one goal for the next 12 months is to increase assets under management and clients service. He’s also developing machine learning techniques and algorithms around portfolio construction

Parting words

 

“Stay vigilant and always remember the macro overlay.”Garrett Roche

 

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Connect with Garrett Roche

• LinkedIn
• Website

Andrew’s books

• How to Start Building Your Wealth Investing in the Stock Market
• My Worst Investment Ever
• 9 Valuation Mistakes and How to Avoid Them
• Transform Your Business with Dr.Deming’s 14 Points

Andrew’s online programs

• Valuation Master Class
• How to Start Building Your Wealth Investing in the Stock Market
• Finance Made Ridiculously Simple
• Become a Great Presenter and Increase Your Influence
• Transform Your Business with Dr. Deming’s 14 Points

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