Lloyd Blankfein, the former chairman and CEO of Goldman Sachs $GS, says he day trades stocks without owning a computer and holds 98% of his portfolio in risky assets.
Blankfein made the disclosure on the "My First Million" podcast, where host Sam Parr asked him about his post-Goldman life and investment habits.
On the podcast, Blankfein reached for a musical analogy to explain his approach, saying that day trading occupies the same place in his life that music occupies in the lives of most people.
Two factors drove his decision to start trading, he explained: a career's worth of financial expertise, and a level of wealth — Forbes puts the figure at roughly $1.8 billion — large enough that no outcome from the activity would move the needle on his quality of life, with Blankfein saying nothing "hugely positive or negative" could come of it.