Назар Щетинин: почему инвесторы потеряют деньги в 2026 году

Nazar Shchetinin is an investor, entrepreneur, and the creator of one of the most popular YouTube channels about the stock market, "Harmful Investor." In this extensive interview, we discuss not only the Russian stock market but also Nazar's personal journey: from his time at BCS, Finam, and Otkritie to founding the IT company Tesis.io, which he sold in 2022. We explore how his capital was formed, why he abandoned selling investment courses, how he makes money today, and how his perspective on investing has changed in recent years. We also discussed current developments in the Russian stock market, which stocks look most promising, how to value companies, why most private investors make the same mistakes, and whether it's possible to make money on Russian stocks today. We also discussed Gazprom, the Moscow Exchange, dividends, investment analytics, YouTube, the infobusiness, and how to distinguish high-quality investment content from the noise. It was a frank conversation about money, business, investments, and the future of the Russian capital market, without grandiose promises or "secret strategies." Listen, watch, discuss, share, and get rich! 00:00 — Who is Nazar Shchetinin? Biography of the "Harmful Investor"; 03:00 — The path to the profession: from nightclub to broker; 07:00 — Working at Finam and his first capital; 11:30 — Experience teaching in the stock market and its value; 15:30 — Giving up the infobusiness: "I don't teach any courses!"; 18:00 — Sale of the Newton Technologies business in 2022; 21:30 — How much does the "Harmful Investor" earn?; 24:00 — "There are no windows, only vents": about business in Russia; 27:45 — The Black Line Author's Fund: strategy and results; 33:30 — Why do investors buy on highs and sell on lows?; 37:00 — The Russian market vs. the US: "I'm jealous"; 42:00 — The Black Line Fund: year-end results and shareholder mistakes; 45:50 — Why does everyone buy on highs and sell on lows?; 49:30 — Comparison with deposits and bonds: who will win in 2026?; 52:20 — "50 out of 1000": how to change investor behavior; 55:30 — Participation in the AVO: protecting minority shareholders' rights; 58:00 — Corporate Conflicts: Rusagro, UGC, and Share Dilution; 1:01:30 — Bitter Truth vs. Sweet Lies: How to Avoid Falling into a Trap; 1:04:30 — Money Management: Invest a Comfortable Amount; 1:08:15 — Historical Case: Sber at 20 Rubles in 2008; 1:11:40 — Risk Profile: Who Can Take Risks and Who Can't; 1:15:00 — The 66% GDP Capitalization Goal: Is It Achievable?; 1:18:10 — The US Market, the AI ​​Bubble, and Envy; 1:21:30 — What's Lacking in the Russian Market? Social Darwinism; 1:26:00 — Top 3 Wishes for Investors in Difficult Times; 1:30:50 — Results and farewell. NEP 2.0 - Nikita and economic policy ★Interviews with experts in the world of finance and economics. ★A channel where we search for a new economic paradigm. Come on over, watch, and subscribe to the channel! I'm online: ➧ Website - https://www.nikitamakarov.com ➧ Telegram - https://t.me/makarov_finance ➧ Instagram -   / nnmakarov   ➧ VK - https://vk.com/nnmakarov ➧ Facebook -   / mcnikitamakarov   ➧ Email - [email protected] My channel:    / @makarov_finance