Giving a presentation to a group of young physicians

[stahleyp]

Hey guys,

 

I've been recently asked to give a talk to a group of physicians about financial planning and investments (basically I'm hoping to steer them away from the sharks). I think someone else on here gave a similar talk recently (but couldn't find the thread). Anyone remember that? Any talking points you think I should address?

[Junto]

Here's a good website for them to read or sign up for. I have followed it for years and I am not even a physician... https://www.whitecoatinvestor.com/

 

They have a common questions section which is informative. He does collect money from the site for recommendations so it's not independent but his advice is sound and he is transparent on the referrals piece.

[Cigarbutt]

Would add the following reference:

http://www.thephysicianinvestor.com/publicnewsletters

 

Dr. Doroghazi produces a newsletter which requires a subscription but if you are looking for inspiration, there is a large sample of previous ones.

He received kudos from Mr. Buffett for a book that he wrote.

http://www.thephysicianinvestor.com/bookreviews

[Spekulatius]

Hey guys,

 

I've been recently asked to give a talk to a group of physicians about financial planning and investments (basically I'm hoping to steer them away from the sharks). I think someone else on here gave a similar talk recently (but couldn't find the thread). Anyone remember that? Any talking points you think I should address?

 

I probably would tell them just to avoid anything with complexity and /or high fees. That alone more or less should steer them in the right direction.

[james22]

https://www.whitecoatinvestor.com/

[EliG]

I think someone else on here gave a similar talk recently (but couldn't find the thread). Anyone remember that?

 

Here's the thread:

 

http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/investing-101-presentation-to-amateurs-how-to-make-it-interesting/

 

[no_free_lunch]

I would probably reference Buffets hedge fund bet.  I find many investors have this belief that the stock market is for amateurs but the real investors are making mint via hedge funds.

 

http://www.businessinsider.com/warren-buffett-wins-million-dollar-bet-against-hedge-funds-2018-1

[writser]

How much time do you have?

 

I’d tell them something about compounding and the effect of small costs on the end result, the EMH and its faults, how hard it is to beat the market, something about psychological challenges (i.e. Kahneman, common biases investors suffer from). Tell them that people in finance often have completely different incentives than their clients / shareholders etc. and why that is bad. Explain active vs passive investing. Tell them about Vanguard.

 

If you have some time left you could try explaining the basic tenets of value investing: i.e. a stock is a partial business. Ask them what they’d look for when buying a burger joint (i.e. do they own the real estate, are they indebted, annual cash flow, taxes, forecasts, how is the personnel, model profitability, etc.) and make them understand that it works the same way with stocks.

 

Finally you could recommend some books/websites for those who are interested.

 

At least for the investing part.

[DocSnowball]

Email them ahead of time to ask what they are most interested in. How to find a good financial planner. Lay out your own conflicts and how you make money clearly up front. State your objectives and take home message early on. Talk about financial planning to them in context of their lives where they settle down much later and catch up on their investments, and talk about minimizing taxes. Also any areas where their investments will be safe from litigation claims. Rolling over after leaving employers. If they are active investors, discovering their investment philosophy and circle of competence. Happy to look at your material if you’d like (I’m an MD MBA employed with a University)

[stahleyp]

The presentation is on April 19th. thanks all for the input and the old thread. It's much appreciated!  :)

[investmd]

The following is a list of topics that I think physicians would appreciate learning about:

1) Power of compounding

2) Rule of 72

3) Broad spectrum ETFs - VOO, VCN, VWO, VGK

4) Cost of managing a portfolio - paying a 1-2% annual fee on a $1M portfolio adds up to real money over 10 years

5) Tax implications of where to place investments (In Canada, TFSA, RRSP...)

6) Concept of Diworsification - how diversification works or mostly doesn't

7) How to handle the cocktail party stock tip

 

Good luck! Maybe you will post the presentation on this thread along with feedback you received from audience as to what appealed

[DocSnowball]

Also asset allocation, matching cash liquidity with major life events, and risk management (occupation specific disability insurance, umbrella insurance) if that is on topic

[stahleyp]

Just wanted to update this.

 

The presentation went really well! It looks like I might be invited back to talk to the attendings too. :)

 

 

I'd rather not post the slides in public, but if anyone is interested in them, feel free to message me. 

[DooDiligence]

Just wanted to update this.

 

The presentation went really well! It looks like I might be invited back to talk to the attendings too. :)

 

 

I'd rather not post the slides in public, but if anyone is interested in them, feel free to message me.

 

I'm interested.

I'd really like to convince some of these young students I go to school with to think about actual equity ownership instead of "get rich quick" schemes.

I've been proselytizing & have found one or two fertile seedbeds.

Your professional presentation may help.