Welcome to the Smart Money Dumb Money Show. I'm your host as usual, Keith Richards. As you know, I'm a technical analyst and chief portfolio manager of Value Trend Wealth Management. Today we have a guest interview which I always enjoy. What makes this one unique is it ties a couple of ends together for me because I'm going to interview a man who I've known for some time and who you might know as well: Michael Hainsworth. Michael was the senior anchor at BNN. Before I dive into our discussion, I want to mention that Michael and I had a unique relationship during his time there. I used to bring my son into the studio, and just to show you what an amazing guy Michael is, he took my son on a grand tour of the entire facility a couple of times and had several sit-down conversations with him.
Timestamps 👇
(01:17):
At the time, my son was interested in the media, and Michael is the kind of guy who will give his time even when members at BNN are running off their feet. Michael was just the greatest guy and I am really pleased to have him for so many reasons. Let me give you a bit of background and then we'll get into why we're here. Michael transitioned from BNN where he was the head anchor guy. Interestingly, he did that and we'll talk about why, but he's since moved into digital media and all the tech stuff that guys like me are completely unfamiliar with. That brings us to why Michael is here. I want to say thank you for joining me, Michael. You're the best of the best guys. Thank you. To start, could you share why you left BNN?
Michael Hainsworth (02:11):
Yeah, it's funny. I absolutely loved that job when I was younger. No kid wakes up in the morning and says, “I want to be the guy on the stock market channel”. But that's just how things evolved for me. I stayed at BNN for 18 years because of the people. Media can sometimes feel like a shallow money pit where good men die like dogs, and thieves run wild. That’s often what leads people to switch jobs. You might recall the theme song from WKRP going up and down the dial on the radio. What kept me at BNN was the people behind the scenes. For instance, my primary producer and I worked very closely together for 12 or 13 years. When I left, she described it as a divorce, and I felt very much the same way.
(03:04):
2018 marked my 30th year in broadcasting. I started in radio at 17 where I worked 11:30 PM to 5:30 AM. Then, I’d get on the subway, ride it to high school, sleep in the cafeteria until 8:40 AM when the bell rang, and then attend class. That's how I got my start in the business. I would often fall asleep in class around two in the afternoon, as the lack of sleep caught up with me. However, I never got in trouble with the teachers for it because they knew I wasn’t out partying the night before. They knew I was a kid passionate about radio and was already working in the field while still in high school. By 2018, after 11 years in radio, I transitioned to television. Reaching 30 years felt like a significant milestone. However, I realized that milestones like 31, 35 or 37 years could be easily disrupted by a cost-cutting decision. A single spreadsheet entry could lead a bean counter at CTV or Bell Media to decide that replacing one of me, with multiple younger employees, would be more cost-effective. So, instead of waiting for that to happen, I jumped out of the media airplane without a parachute and I had to sew it on the way down to avoid a micro sized crater in the planet.
Keith Richards (04:26):
When you left, I was genuinely saddened. I continued with the show, but there are certain hosts you really enjoy, and you were definitely one of my favorites, along with Frances Horodelski, as I’ve mentioned to you before. I’ve interviewed her on this show as well, and you both were the ones I looked forward to the most. I was so sad when you and Frances both left. Let’s shift to what you’re doing now. You’ve transitioned into digital media. In fact, before we started recording this, Michael was already critiquing my background. So…
Michael Hainsworth (05:12):
Constructive advice, I would say constructive advice, not critiquing.
Keith Richards (05:17):
So that's what Michael's doing now, and he is working with some pretty big clients. Why don't you talk a bit about that?
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