Ritholtz Wealth Management

Chief Operating Officer

Data Scientist

Cornerstone Research

Senior Analytics Consultant

Analytics Consultant

Senior Analyst

Provide financial and economic analysis for commercial litigation matters.  Support experts in preparing for deposition and trial testimony.

Analyst

Federal Reserve Board (Banking Supervision and Regulation)

Risk Policy Intern

Stanford University

Research Assistant for Program on Energy and Sustainable Development

Acumen LLC

Quantitative Research Analyst Intern

Stanford Institute for Economic Policy Research (SIEPR)

Research Assistant

Nick Maggiulli

I can't stand AI-assisted writing anymore. It’s all over Substack. It’s in my LinkedIn replies. It’s everywhere. Like a disease slowly infecting our literary consciousness.

My latest on the rise of AI writing and why cognition will always be an edge:

https://lnkd.in/esAjhX7q

NY Times Bestselling Author | COO at Ritholtz

Your career is an asset class.

If you work in tech, you shouldn't own a lot of tech stocks. If you're a real estate agent, you shouldn't invest in a bunch of rental properties. Why?

Because you are inadvertently doubling down on the same set of risk factors.

Most people think of their career and their portfolio as distinct buckets. Your career is your income and your portfolio is your wealth.

But they are deeply connected.

If you're an engineer at Google and tech sells off, you risk losing your job and the portion of your wealth linked to technology stocks. If you're a real estate agent and the housing market slows, you risk losing commissions and rental income.

I work at a wealth management firm whose revenue is directly tied to the stock market. Do you think my personal exposure to financial assets should be the same as someone working in fashion or retail? Should we both just buy the S&P 500 and call it a day?

I don't think so.

Your career is an asset class. Hedge it accordingly.

You can't budget your way to $10 million. You can't coupon your way to financial freedom.

There's a mathematical limit to how much you can cut your expenses (it approaches zero). Even the top 20% of earners have to spend something on their necessities (see chart).

But there's no limit to how much you can increase your income.

There's a reason why those with the highest incomes also have the highest savings rates—they have far more than they need.

Stop trying to reduce your budget by 10% and start trying to increase your income by 50%.

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There are two types of risk in life: Fast Risk and Slow Risk.

Fast Risk is the stuff that makes headlines. It’s the things that we are warned about everyday:

"Don’t drive without a seatbelt."
"Don’t cheat on your spouse."
"Don’t use too much leverage."

The reason for this is simple—the consequences of Fast Risk are immediate and usually devastating. You get severely injured. You get divorced. You go broke. There’s a clear line between how your life was before and after the risk materialized.

But then there’s Slow Risk. 

Slow Risk is the accumulation of bad decisions that eventually leads to an unwanted outcome:

It’s developing heart disease after decades of improper eating. 
It’s getting divorced after neglecting your spouse for years. 
It’s sitting in cash while you wait to buy the dip.

With slow risk, there’s no single event that you can point to and say, “Here’s where I went wrong.” No. It’s the cumulative effect of your improper decision-making that leads you astray.

Everyone thinks about Fast Risk, but intelligent investors focus on Slow Risk too.

Return on Hassle > Return on Investment

Focus on maximizing sleep, not maximizing returns.

If you know, you know.

When was the last time you got called in the middle of the night about your index fund?

One of the biggest myths I hear in finance is that property investing gives ‘passive income’.

In reality, property/real estate is one of the least passive investments there is.

This graph from Nick Maggiulli illustrates it well.

Property can be a great investment - there are plenty of benefits that come with it.

But it’s not passive. 

You aren’t going to get a call in the middle of the night about your index fund.

You might get one about your rental property.

Make sure the extra return is worth the extra hassle.

The worst investments I've ever owned all share one thing in common—I couldn't sell them.

My latest on the high price of illiquidity and how I learned this lesson the hard way: https://lnkd.in/eai8tggt

Every year I compile my favorite investment writing, and 2025 did not disappoint.

Like it, share it, or bookmark it for later. Whatever you do, don't miss out on these amazing pieces.

My Favorite Investment Writing of 2025:

Open article: Protected: My Favorite Investment Writing of 2025 (DRAFT) by ofdollarsanddata.com

Protected: My Favorite Investment Writing of 2025 (DRAFT)

I think I've found the mortgage-backed security (MBS) of our era. It's called conduit debt financing and it might be how the AI bubble eventually pops.

My latest on the obscure financial structure that could trigger the next crisis:

https://lnkd.in/epB_-n8Q

Wesley Enhanced Living

Executive Director

Community Connections for Children

Board Member - Director

Fundamental

FAS is a leading long-term and post-acute healthcare management company with 80 facilities nationwide.

⌨ Learn more about our services at: www.fundltc.com  

As VP of Transactions, I am accountable for driving a suite of mergers, acquisitions, divestitures, and new construction projects.

To carry out my mandate, I conduct due diligence, identify high-potential acquisition opportunities, divest from financially unprofitable facilities, and ensure a smooth transition to new owners/operators.

Among my accomplishments, I have:

➥ Ensured strategic alignment between all acquisition/divestiture activities and FAS’s broader growth plan.

➥ Collaborated with potential buyers to facilitate a seamless and efficient divestiture process. 

➥ Routinely analyzed facility data, staffing metrics, and financial KPIs to identify trends and improvement opportunities.

➥ Implemented an initiative to reduce the reliance on staffing agencies and mitigate operational expenditures.

➥ Sold the only hospital in FAS’s portfolio, eliminating $1MM in annual losses.  

➥ Divested from four unprofitable skilled nursing homes in Texas and two in Nevada, resulting in $500K in avoided losses annually. 

➥ Negotiated two new skilled nursing home acquisitions in Texas which are projected to add between $250K and $400K in annual revenue. 

➥ Executed two major construction projects to build a behavioral healthcare hospital in South Carolina and new nursing home in Las Vegas; anticipated to generate an $24MM to $30MM in annual revenue.

Vice President, Transactions 

Eye Associates Of Lancaster

I Led a team of 46 employees (including 4 physicians) and executed a suite of mission-critical operations and support functions, including: financial management, policies and procedures administration, budget management, human resources, business development, IT/IS management, facilities maintenance, and expansion.

Some of my additional contributions include:

➥ Developed operating strategies, established key business objectives, and optimized the allocation and utilization of organizational resources to optimize patient outcomes.

➥ Contributed to a strategic growth plan and assumed P&L responsibility for over $5MM in annual revenue.

➥ Implemented a cloud-based practice management platform to increase efficiency, productivity, data security, and team synergy. 

➥ Successfully reduced the reliance on manual processes and paper charts. 

➥ Reinvigorated a stagnant culture, replaced underperforming employees, and shaped a customer service mindset. 

➥ Drove the planning, design, construction of a 7,000+ sq. ft flagship office location after securing leadership buy-in. 

➥ Identified a high-potential expansion opportunity for a satellite office in a strategic location; opened in just 90 days. 

➥ Contested unemployment claims to reduce unemployment risk liabilities by ~50%.

➥ Achieved an estimated 20% increase in YoY revenue generation over tenure.

Administrator

SpiriTrust Lutheran®

I joined Spiritrust Lutheran in 2017, where I led a team of 10 direct reports to optimize day-to-day operations for a CCRC nursing facility. 

I managed all day-to-day activities to ensure the center’s profitable operation, including: maintenance, administration, regulatory compliance, quality control, patient experience, human resources, IT management, housekeeping operations, and P&L oversight.

Here are some of the ways I’ve made positive contributions to business performance:

➥ Steered the company though multiple crises, including a facility-wide sprinkler pipe failure by temporarily relocating residents on an accelerated timeline, directing all restoration efforts, securing reopening clearance from regulatory authorities, and restoring the occupancy permit.

➥ Implemented a remedial action plan to remove the company from a state-sponsored special focus list; facilitated positive survey results and left the company in good standing with state agencies.

Squirrel Hill Center for Rehabilitation and Healing

As Administrator, I was recruited to stabilize operations, ensure the center’s financial health, and achieve key P&L goals. 

Some of my contributions include:

➥ Implemented a strategic turnaround plan to turn a $50K monthly loss into a profitable operation in 6 months.

➥ Drove a suite of cost control measures with zero impact on service quality.

➥ Strategically positioned employees where they are most effective; held staff accountable against key performance goals. 

➥ Nurtured, coached, and retained top-tier talent. 

➥ Drove sustained improvements to patient referral, admission, and retention rates.

➥ Cultivated strategic relationships with hospital case managers to expand the patient pipeline.

➥ Positioned the organization optimally for a strong rebound; achieved the highest survey results with the least number of deficiencies in 10 years.

Lake Emory Post Acute

As Administrator for Lake Emory Post Acute Care, I managed all operational aspects for the 88-bed skilled nursing facility; I was recognized for increasing the short-term rehab mix, improving staff’s clinical capabilities, and delivering a seamless resident experience. 

Some of my additional contributions include:

➥ Provided leadership and guidance for 12 department heads.

➥ Consistently met or exceeded monthly financial goals.

➥ Reduced employee turnover to 3-5%.

➥ Cultivated high-touch relationships with local area hospitals to provide a continuity of care and facilitate smooth transitions from acute to post-acute settings.

➥ Successfully positioned the facility as a regional leader in inpatient wound care treatment

Magnolia Manor Inman

Between 2015 and 2016, I served as Interim Administrator upon the successful completion of the AIT program, after which I received a promotion to Assistant Administrator within 5 months. 

Among my responsibilities, I oversaw all mission-critical building operations, including: staffing, scheduling, dietary, maintenance, social services, and resident interviewss.

Assistant Administrator / Interim Administrator

PRWC Spartanburg

IN 2015, I rotated across all departments as part of the South Carolina state approved AIT program. 

I trained in a variety of clinical and operational functions, including: Nursing, Dietary, Maintenance, Therapy, Medical Records, Administration, Business Office, Human Resources, and Social Services/Admissions.

Administrator in Training

Purchasing Analyst

Asset Manager

Executive Director ➥ Operations Management | Change Management | Facilities Management | Financial Analysis | P&L Leadership | Mergers, Acquisitions & Divestitures

➥ I am a strategic, performance-driven, and focused professional with a seasoned healthcare background, a history of optimizing and scaling operations, and a talent for aligning teams around common goals. I combine over 14 years’ experience driving growth and profitability for multiple high-profile healthcare organizations; facilitating high-level acquisitions and divestitures that maximize P&L performance; positioning organizations optimally to deliver against their strategic goals; and carefully shaping the processes and policies that sustain an efficient, productive, and highly competitive organization.

➥ I excel at identifying and remediating gaps in day-to-day operations, fostering a high-performing culture of accountability and continuous improvement, managing and mitigating risk, turning around and stabilizing underperforming businesses, capitalizing on high-potential growth opportunities, and creating efficiencies across teams and departments. 

➥ I am a supportive team leader with a strong ability to take charge of projects, train and empower others, and motivate those around me to do their best work. I believe a leader’s primary duty is to cultivate, professionally develop, and grow confidence in his team. I have the ability, expertise, and coaching skills to drive my team to success.

➥ I have the communication skills to clearly articulate my vision, persuade people to take action, and get the ball rolling in the right direction. Whether I’m sending out emails, communicating with a team member, presenting to a crowd, or anything in between; I communicate quickly, accurately, and effectively.

taplio

The Battle

Nick Maggiulli

Dan Hood, MHA, LNHA

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taplio

The Battle

Nick Maggiulli

Dan Hood, MHA, LNHA

Followers

Posts

Engagements

Likes

Performance Score.css-goub6s{font-size:var(--chakra-fontSizes-md);font-weight:500;color:var(--chakra-colors-gray-600);display:block;margin-top:var(--chakra-space-1);}Nick Maggiulli's LinkedIn Performance

Ready to grow your LinkedIn presence?

Performance ScoreNick Maggiulli's LinkedIn Performance