: This musician retired after making $170 million in the stock market. Now he’s sharing his secrets.

by | Oct 22, 2022 | Stock Market

When a retired Boston Pops clarinetist gave $100 million to Boston University’s medical school last month, everyone focused on his unusual backstory. Edward Avedisian ended his career as an accomplished musician, but he was the son of Armenian immigrants who’d worked in the mills of Pawtucket, Rhode Island. He and his four siblings had grown up poor but close, and his parents had taught them to serve others. One became a pharmacist, another a nurse, and while Avedisian himself made his living as a clarinetist, he made up for such self-indulgence by giving most of his fortune to Boston University, a school once run by a friend who’d grown up a few doors down in Pawtucket.

Avedisian’s story makes for great reading, but, as a professional money manager, I noticed that almost nobody focused on what interested me most about it: How the hell did a retired clarinetist with no formal investment training amass nearly $200 million on a musician’s salary? So I called him up. Although Avedisian has given nearly all his fortune away, he was happy to share with me out how he’d made it. Avedisian spoke to me by phone from his home in the Boston suburbs, a comfortable, …

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