It’s hard to imagine moving on from a self-described $2B mistake, let alone maintaining a positive attitude about it, and yet that’s exactly what this week’s guest did. In this episode, you’ll hear Packy McCormick talk about the winding path that led him to create Not Boring and why over the long run, he believes optimism is the best return strategy.
Packy’s resilience and work ethic started early, including with a formative experience bringing home a C+ in French. He grew up in a family that valued hard work and honoring commitments without being too hard-charging; an ethos he carried through studying economics and philosophy at Duke, onto an energy trading desk during the 2008 crash, and then into public finance.
Ultimately it was a notable comfort with risk and desire to continue charting his own course that led Packy to leave corporate finance for the NYC startup world in 2013, but not before a brief and ill-fated detour into options trading that would define his venture-focused investing strategy going forward.
Listen in to learn more about Packy’s infamous Bitcoin sell-off and how the pandemic timing played into the launch of Not Boring in this week’s episode.
- (01:46) Let’s start at the beginning
- (03:20) How do you run a FinTech in Ghana?
- (06:15) Clearly a family of ‘underachievers’
- (08:53) Relating to your parents once you are one yourself?
- (13:27) Philly to Durham
- (16:35) Summer 2008 on the energy trading desk
- (18:57) The $2 billion dollar mistake
- (22:59) Just buy and hold
- (25:49) Startup life in NYC
- (28:30) Not Boring is born
- (33:43) Moving Markets
- (41:18) Will retirement be a thing in 20 years?
- (44:22) Invest in things you want to learn about
- (45:37) Optimism as the best long-term return strategy
Episode 34: Anthony Scaramucci on Resilience and the Future of Digital Currency
Anthony Scaramucci discusses risk and resilience, as well as the future of digital currency in a complex, frequently dichotomous America.
Episode 33: Brian Feroldi on Financial Wellness and Demystifying the Stock Market
Brian Feroldi discusses studying the stock market and reveals the conservative personal finance strategy behind his aggressive investment portfolio.
Episode 32: Sheel Mohnot on Seed-Stage Investing
Sheel Mohnot discusses the risks and rewards of seed-stage investing, resilient founders, and his entrepreneurial path.