Stock investing as a hobby?

[DangerRoss]

I do stock investment for fun from time to time. If I say that investing is my hobby when asked about it during the interview, do you think there would be any likely chance that it would negatively portray me as a greedy and money-hungry person?

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[Frazier]

Yes.

Someone who proclaims that they "invest in the stock market" as a "hobby" during a medical school interview can be interpreted in more negative ways than positive.

Such as:

1) This guy's a tool for even saying something like that...
2) This guy's a nimrod for including the words "invest" and "hobby" in the same sentence...
3) This guy must be rich if he doesn't take his monies more seriously than a "hobby"...
4) This guy is looking to find a job to more fully support his "hobby"...

etc.
etc.
etc.

The ONLY way you could pull this off is if you present it exactly in a particularly appropriate framework. Namely, the south park underpants gnome framework:

1) Invest in stock market as a hobby.
2) Enroll in med school.
3) ???
4) PROFIT!

Good luck

 

[Keewee]

I do stock investment for fun from time to time. If I say that investing is my hobby when asked about it during the interview, do you think there would be any likely chance that it would negatively portray me as a greedy and money-hungry person?

i disagree with frazier. explain why you enjoy investing- perhaps you put in a lot of effort and hard work researching companies and when you realize gains on your investment you find it is extremely rewarding. explain that this is a hobby that takes a lot of focus and energy because the risk is so great, but at the same time that makes the reward that much greater. explain that you take an interest and are successful in things that most of your fellow applicants are not. this is just another way to distinguish yourself.

or, if you take frazier's advice, be prepared to explain why you think that millions of people with scottrade and etrade accounts are greedy and money-hungry people

 

[cheerios4cat]

I doubt anyone will think you're greedy, just that you're a snotty clueless 20-something. Stock investing is not a hobby, it's a way of life. Investment is full of intricacies and opportunities that take experience and effort to understand. If you're investing as a hobby, you're not investing.

 

[cincincyreds]

I was on the adcom committee in med school and some clown claim he could beat the markets. Studies have been done and basically over the long haul it is impossible to beat the market average index year after year. How come so many actively managed mutual funds close up shop year after year. I wouldn't mention your stock picking ability because it is bs, especially if you get someone like me at the interview. I will challenge you with studies on this.

 

[alexandertg6]

I was on the adcom committee in med school and some clown claim he could beat the markets. Studies have been done and basically over the long haul it is impossible to beat the market average index year after year. How come so many actively managed mutual funds close up shop year after year. I wouldn't mention your stock picking ability because it is bs, especially if you get someone like me at the interview. I will challenge you with studies on this.

I agree if you are playing the DOW. The exception is if you are doing some sort of start-up investment involving much more hands on development of a company and risk-mitigation. That being said, Im sure you probably arent doing that because it usually requires SERIOUS capital. See venture capitalism and angel investing.

 

[Stumpyman]

Full-on stock investing? Or more like penny stocks (i.e. buying small stocks and selling them back as soon as they're worth a bit more)?

If it's penny stocks, almost everyone's done that a few times (or will do it eventually).

 

[STAT EKG]

I do stock investment for fun from time to time. If I say that investing is my hobby when asked about it during the interview, do you think there would be any likely chance that it would negatively portray me as a greedy and money-hungry person?

I'd say list it, especially if it takes up a good bit of your time. If you can eloquently explain how, for example, stock investing makes you more attune to minor details, requires sustained attention, and helped you become proficient in the US healthcare economy.

Always be honest. If it honestly helped you to achieve a greater respect for some aspect of being a physician, I doubt that being honest will hurt you.

 

[STAT EKG]

I'd say list it, especially if it takes up a good bit of your time. If you can eloquently explain how, for example, stock investing makes you more attune to minor details, requires sustained attention, and helped you become proficient in the US healthcare economy.

Always be honest. If it honestly helped you to achieve a greater respect for some aspect of being a physician, I doubt that being honest will hurt you.

To build on this, I had a very close friend who played a lot of blackjack and poker as hobbies during undergrad and got 3 med school acceptances listing those as activities (because they took up so much time).

If you're able to demonstrate why/how this activity has strengthened you as an applicant (with the GPA/MCAT/ECs to back it up), by all means, list it. If not, don't.

 

[alexandertg6]

^again thats fine, but he should be prepared for his interviewer to say "stock pickers are proven to be no more effective than a dart board and a blindfold". If he still has a good answer for that, more power to him.

 

[kpcrew]

The guy who used to own my house invested in stocks as a hobby after he retired and ended up with over a million dollars by the time he passed away. You should ask LizzyM what she thinks about your activity.

 

[link2swim06]

I was on the adcom committee in med school and some clown claim he could beat the markets. Studies have been done and basically over the long haul it is impossible to beat the market average index year after year. How come so many actively managed mutual funds close up shop year after year. I wouldn't mention your stock picking ability because it is bs, especially if you get someone like me at the interview. I will challenge you with studies on this.

I would challenge you because you are just plain wrong. There are several ways to make money by day trading. Granted over a 4 year people...90% of people will lose money on the principle, BUT 10% on average can make a living off it for a period greater than 10 years.

Not saying MOST don't lose money from day trading....but you are very poorly under or mis-informed if you think its impossible.

I think it takes a specific combination of intelligence and personality is needed to become that 10%.

 

[LittleLuck]

Investing in stocks is the same thing as playing in a casino. Yeah you will get some of those that get blackjack after blackjack, but the majority will end up losing money or breaking even. And I wouldn't say it's a hobby, more like a full-time job with a lot of overtime.

 

[link2swim06]

Investing in stocks is the same thing as playing in a casino. Yeah you will get some of those that get blackjack after blackjack, but the majority will end up losing money or breaking even. And I wouldn't say it's a hobby, more like a full-time job with a lot of overtime.

Casino is random...with the exception of poker...you are calculated to lose.

Stock market is only random to people who don't do due diligence.

I will agree it is a full time job and a half.

 

[ppfizenm]

I do stock investment for fun from time to time. If I say that investing is my hobby when asked about it during the interview, do you think there would be any likely chance that it would negatively portray me as a greedy and money-hungry person?

I really wouldn't. Either you are bad at it and they will see it as a reckless hobby akin to gambling or they will see as a potential career for you if you are good at it. The best it can do for you is keep them neutral to you.

Say for instance you do it to relax, as ad coms frequently ask what hobbies you have to maintain out side of medicine so you don't go crazy. They may then ask what happens if something doesn't go your way one random week and you lose a ton of money. What would you do?

It just has the possibility to blow up in your face.

 

[alexandertg6]

I really wouldn't. Either you are bad at it and they will see it as a reckless hobby akin to gambling or they will see as a potential career for you if you are good at it. The best it can do for you is keep them neutral to you.

Say for instance you do it to relax, as ad coms frequently ask what hobbies you have to maintain out side of medicine so you don't go crazy. They may then ask what happens if something doesn't go your way one random week and you lose a ton of money. What would you do?

It just has the possibility to blow up in your face.

You could also spin it as " I do it for fun with an account of $1,000. I dont really care about the money, the real gain was learning many of the principles of economics and business which I think will make me a better physician one day because _______________________________"

 

[MegMurry]

You could also spin it as " I do it for fun with an account of $1,000. I dont really care about the money, the real gain was learning many of the principles of economics and business which I think will make me a better physician one day because _______________________________"

lol, I don't know a ton of premeds who have $1k to spare / disregard, especially after the brutal onslaught of primary/secondary fees and interview costs. Kudos to you, alexandertg6, but I wouldn't necessarily say you're throwing $1k around "for fun". That could also be viewed poorly.

However, there's also sites like updown.com where you can manage a starting hypothetical portfolio of $1M without any real risk involved. I know people (myself included) who utilize it on the side of our actual brokerage and retirement accounts. I wouldn't call it a hobby for myself personally because I think I've looked at my account about once every few months but I know others who take it pretty seriously.

If you do spend enough time analyzing your investments, I do think that you can talk about personal risk and financial management as something you've had insight into and that would be appropriate.

Clearly, from all the mixed advice and opinions on such a topic, it's a pretty polarizing hobby. You'll just have to approach it carefully and gauge how your interviewer responds... or it might blow up in your face. Good luck!

 

[ppfizenm]

You could also spin it as " I do it for fun with an account of $1,000. I dont really care about the money, the real gain was learning many of the principles of economics and business which I think will make me a better physician one day because _______________________________"

That brings you back to the underpants gnomes' plan though. Truly it really won't make you a better physician. It may give you insight into the economy but even if you land a job in hospital administration or being part of a medical tech start-up you really can't list "played the stock market with small change" on your resume. You'll need a business degree or at least an Bachelors in economics.

And even 1,000 dollars in med school is a large amount to gamble away. You can't take on extra hours at your job to make up the difference.

 

[link2swim06]

That brings you back to the underpants gnomes' plan though. Truly it really won't make you a better physician. It may give you insight into the economy but even if you land a job in hospital administration or being part of a medical tech start-up you really can't list "played the stock market with small change" on your resume. You'll need a business degree or at least an Bachelors in economics.

And even 1,000 dollars in med school is a large amount to gamble away. You can't take on extra hours at your job to make up the difference.

Haha...not really, if that's the case you should probaley go tell Steve jobs, bill gates, and mark zucenburg they needed a business degree.

Unlike medicine nobody in business gives a crap about education...all about experience and connections.

 

[ppfizenm]

Haha...not really, if that's the case you should probaley go tell Steve jobs, bill gates, and mark zucenburg they needed a business degree.

Unlike medicine nobody in business gives a crap about education...all about experience and connections.

These are the exceptions to the rule.

 

[MT Headed]

I do stock investment for fun from time to time. If I say that investing is my hobby when asked about it during the interview, do you think there would be any likely chance that it would negatively portray me as a greedy and money-hungry person?

I doubt it. You seem to be asking if stock investments are inherently evil. It's actually the one mechanism that gives ownership of the means of production to the workers (or anybody else who is interested in ownership); in a sense stock ownership is the ultimate realization of a socialist's dream.

If you only do it "from time to time" and you can't relate it to your ambition to be a doctor, I don't see how it could help your application though. I tried to make sure all of my ECs were either major time sinks, made me better prepared to become a physician, or preferrably both. Your stock market hobby sounds like neither.

I've been living full time from my stock market investing since the 1900s, but it never occured to me to list it as an EC.

 

[Warren Peace]

I've been living full time from my stock market investing since the 1900s, but it never occured to me to list it as an EC.

You must have a lot of experience then.

 

[LizzyM]

This thread reminds me of the old joke, "Do you know how to make a small fortune as a trader? Start with a large one!"


If you wanted to list this sort of thing on your application, I'd suggest that you call it "other" rather than "hobby/advocation" and say that in your spare time you enjoy studying business and investment opportunities and investing. I wouldn't be impressed to see this on an application but I wouldn't penalize an applicant for such an interest although I could imagine some people might be biased against such an applicant. The same could be said for some applicants who specify working for a particular political party or organized religion. It can help or it can hurt and there is no predicting the outcome.

 

[gmcguitar4]

I have done stock trading for fun before with friends, but they were games. It would be with fake money obviously..they have those websites where you can get like $1 mill and see who can make the most over a year or so. At this point, whoever just held onto the money and didn't invest at all would win.

 

[JESSFALLING]

^again thats fine, but he should be prepared for his interviewer to say "stock pickers are proven to be no more effective than a dart board and a blindfold". If he still has a good answer for that, more power to him.

This idea that "stock pickers are proven to be no more effective than a dart board and a blindfold" is really not true.... it is more like, "MOST stock pickers are proven to be...." You don't have to look to hard to find a counter-example to the first claim: Warren Buffet, Jim Rogers, George Soros, etc. How do they do it? By careful, intelligent, and unemotional analysis. Can most people copy what they do? Of course not!

To the OP: I think that the process of learning to invest is more important than the investing itself. Investing, more than most other activities, will allow you to understand how your emotions can interfere with rational thought (i.e. The urge to panic sell when stocks are the cheapest). I think that if investing has helped you to learn how to remain calm in the face of great anxiety, then it is a valid EC and I would use it to explain how it has benefited your character in this way.

 

[searun]

I invest in index funds with Vanguard. The market will beat two out of three actively managed mutual funds over a 10 year period. And these fund managers have access to a tremendous amount of information that is not available to the average investor. Day trading is a fool's game. You are not smarter than the market. You might as well be that little grey haired old lady, puffing on a cigarette, playing the slot machines.

 

[kami333]

Anyone playing CNBC's millionaire portfolio challege?

 

[SoonerFromTexas]

This thread made me open a Scott Trade account because I had always wanted to invest. An hour later I closed it when I found out there is a $500 initial deposit minimum. I was an investor for one hour and I realized that it is too risky and costs too much to be a hobby. Bummer...

 

[MD Odyssey]

I was on the adcom committee in med school and some clown claim he could beat the markets. Studies have been done and basically over the long haul it is impossible to beat the market average index year after year. How come so many actively managed mutual funds close up shop year after year. I wouldn't mention your stock picking ability because it is bs, especially if you get someone like me at the interview. I will challenge you with studies on this.

Even in the rare cases that someone is lucky enough to beat the market, taxes and trading fees will murder you.