NYU professor Scott Galloway regrets stupid decision to sell off stocks following Trump 2016 win: Biggest investment mistake

NYU professor Scott Galloway said Monday on “The Prof G Pod” that he sold all of his stocks in an emotional reaction to President Donald Trump’s 2016 election victory, taking a major tax hit before buying back into a more expensive market months later, a decision he estimated cost him 40% of his liquid net worth in stocks.Galloway, a professor of marketing at NYU Stern, called the move his “biggest investment mistake” during the “Office Hours” edition of the podcast as he warned listeners about allowing emotions to drive investment decisions.“So when he was elected in 2016, I sold all my stocks,” he said.“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 said the selloff also triggered taxes on significant capital gains while he was living in New York.He said he returned to the market about six months later after stocks had risen between 10% and 20%, compounding what he described as the cost of the decision.“So you could argue, at least notionally, that decision cost me 40% of my liquid net worth in stocks,” Galloway said.White House spokesman Davis Ingle told Fox News Digital Tuesday that Galloway’s continued criticism of Trump reflected what he characterized as an obsession with the president.“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 said.Galloway criticized Trump, saying he believed the president’s economic and foreign policies could ultimately damage the U.S.

economy.“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 sa...