NYU professor regrets ‘silly’ decision to sell – Business News
NYU professor Scott Galloway stated Monday on “The Prof G Pod” that he bought all of his shares in an emotional response to President Donald Trump’s 2016 election victory, taking a main tax hit earlier than shopping for back into a more costly market months later, a decision he estimated price him 40% of his liquid internet value in shares.
Galloway, a professor of advertising and marketing at NYU Stern, known as the transfer his “biggest investment mistake” during the “Office Hours” version of the podcast as he warned listeners about permitting feelings to drive investment choices.
“So when he was elected in 2016, I sold all my stocks,” he stated. “That was stupid. The market ripped for the next year. There was so much insecurity about him actually winning that the fear had been priced in. Stocks ripped up.”
Galloway stated the selloff additionally triggered taxes on vital capital positive factors whereas he was residing in New York. He stated he returned to the market about six months later after shares had risen between 10% and 20%, compounding what he described as the fee of the decision.
“So you could argue, at least notionally, that decision cost me 40% of my liquid net worth in stocks,” Galloway stated.
White House spokesman Davis Ingle advised Fox News Digital Tuesday that Galloway’s continued criticism of Trump mirrored what he characterised as an obsession with the president.
Scott Galloway participates within the “Raging Moderates” Live and “I Disagree Winning Arguments Without Losing Friends” Conversation at 92NY in New York on Sept. 16, 2026. Matt Roberts/Shutterstock
“Scott Galloway should immediately seek psychiatric help to treat his severe case of Trump Derangement Syndrome that has completely rotted his peanut-sized brain,” Ingle stated.
Galloway criticized Trump, saying he believed the president’s financial and overseas insurance policies might in the end harm the U.S. economic system.
“I think the president is a f—ing idiot and a stain on the American experience and that the grand sum of all of these head up your a– economic and foreign policy decisions will eventually crash this economy or result in long-term structural damage that will take decades if not generations to repair,” Galloway stated.
United States President Donald J. Trump delivers an announcement within the Oval Office of the White House in Washington on Sept. 29, 2026. Bonnie Cash / Pool through CNP / SplashNews.com
The stock market rose considerably following Trump’s 2016 presidential victory. According to the federal authorities’s 2017 Economic Report of the President, the S&P 500 climbed 3.4% in November 2016 and reached a then-record high later that month. The 2018 report stated the index went on to gain 19.4% in 2017, posting will increase in 11 of the yr’s 12 months.
Galloway stated his expertise bolstered his view that traders ought to stay within the market relatively than attempt to anticipate political or financial turning factors. While discussing present elevated valuations, he really helpful diversification as a substitute of attempting to predict precisely when shares will decline.
“Trying to guess when the top happens is dangerous,” Galloway stated. “Probably my biggest investment mistake was the emotional reaction I had to the 2016 election of Donald Trump.”
Scott Galloway, lecturer in Marketing at New York University, speaks on the DLD (Digital-Life-Design) convention in Munich, Germany on Jan. 18, 2016. image alliance through Getty Images
“And what the government does matter, but the majority of the economy just grinds on regardless of who is tweeting what or not tweeting what,” he continued.
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Galloway predicted Trump would in the end abandon his 2024 presidential marketing campaign as half of a plea settlement that might keep him out of jail. Trump remained within the race and returned to the White House after successful the 2024 presidential election.
Fox News Digital reached out to Galloway for remark, however didn’t instantly obtain a response.
