While 30 percent of specialist physicians recently invested in a stock or company that turned out badly, others made more drastic investment choices, according to Medscape's "Physician Wealth & Debt Report 2022."
The report, released June 10, includes responses from 13,000 U.S. physicians in more than 29 specialties, collected from Oct. 5 to Jan. 19. Read more on Medscape's methodology here.
Four anonymous physicians offered more in-depth explanations in their bad investments to Medscape:
1. Partnering with other physicians
"I brought another doctor in as a partner in a medical practice after I invested all the upfront cost," one physician said. "When I didn't give him 49 percent of the business, he sued me."
2. Investing in a startup
"I invested in a medical startup company that got sued for its name," another anonymous physician said.
3. Investing in Tesla
"I bought Tesla stock at its inception but sold far too early," another physician said.
4. Investing in oil
"One of my financial advisers encouraged investing in an oil well," one physician said. "That was $40,000 down the drain. Needless to say, he is no longer on my team."