Scott Galloway’s Journey from Selling Netflix at $12 to Missing Out on $1,100 Opportunity
Scott Galloway, a well-known professor and entrepreneur, recently shared some of his investment mishaps on the “My First Million” podcast. Despite selling Netflix at a loss of $10 after buying it at $12, he emphasized the importance of not just showcasing wins online. Instead, he focuses on investing in undervalued assets rather than following popular trends.
One of Galloway’s successful trades involved buying FTX bankruptcy claims for $2.2 million, which later turned out to be a profitable investment thanks to the growth of their investments in the AI company Anthropic. He’s not afraid to put in the work, like reading bankruptcy filings, to make informed investment decisions.
Galloway’s best return came from reviving vape company NJOY, which turned into $75 million after FDA approval and acquisition by Altria. His investment in Dex Media, a failing yellow pages company that pivoted into software, also paid off.
Despite his successful investments, Galloway doesn’t shy away from sharing his losses. For instance, a $5 million investment in a healthcare texting company went to zero in 18 months. He also missed out on $2 million selling covered calls on a stock that surged post-earnings report.
Currently, Galloway is shifting away from U.S. equities due to high valuations and political instability, aiming to diversify his investments globally. He expresses confidence in European markets, emphasizing the importance of investing when assets seem undervalued and unappealing to others.
