WCI #161: Medicine and Finance in Venezuela

What is it like to train and practice medicine in Venezuela? Dr. Postalian emailed me a while ago saying, “if you are interested in learning about medicine in a completely crazy and destroyed economy like Venezuela, let me know." See the full show notes here https://www.whitecoatinvestor.com/classic-blog/ We have talked about medicine and finance in other countries, but they're usually very developed countries. I thought it would be interesting to talk a little bit about growing up and training for medicine and particularly finances in a mixed economy like Venezuela. Besides discussing what it is like to train and practice medicine in Venezuela we talk about hyperinflation. Hyperinflation is devastating to live through, but academically very interesting. Most of us have never lived in a country that experienced any sort of hyperinflation. We discuss how that affected his physician parents, their incomes and savings. How does that experience affect his investing strategy now? Venezuela was doing great, best economy in Latin America, bright future and everything, but it fell apart. Dr. Postalian reminds us not to take anything for granted.

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