Excess Returns · Tuesday, August 25, 2026
Ian Cassel describes his first significant investment win, turning $20,000 into $120,000, which he attributes largely to luck and investing during the late 1990s dot-com boom. He emphasizes that this early success, despite the eventual dot-com crash, provided him with the self-confidence to continue investing.
“So that's how the $20,000 turned into $120,000.”
“Uh, but that big win, I think, was really instrumental.”
“Um, because it gave me that, kind of, misguided self-confidence.”