Nine Practical Lessons from Rick Ferri | Simplicity, Fees and Taking Control of Your Investments
Two Quants and a Financial PlannerJuly 01, 202401:04:38

Nine Practical Lessons from Rick Ferri | Simplicity, Fees and Taking Control of Your Investments

In this episode, we dive into the key lessons we took from our recent conversation with Rick Ferri on the Excess Returns podcast. We explore Rick's approach to simple, low-cost investing and discuss how his insights apply to various investment strategies, including factor investing. We cover topics such as favoring simplicity, the enduring relevance of the 60/40 portfolio, the importance of fees, and looking to history for guidance. Throughout the discussion, we relate Rick's ideas to our own experiences in quantitative investing and financial planning, offering our perspectives on how these principles can be applied in practice. We also have some fun connecting each lesson to a KISS song. Our goal is to break down Rick's wisdom and show how it can benefit investors across different approaches and philosophies.

00:00:00 Introduction
05:24 Lesson 1: Favor simple over complex (most of the time)
10:18 Lesson 2: 2. Be cautious about the death of the 60-40 arguments
15:56 Lesson 3: Assume the efficient market hypothesis is mostly right
20:10 Lesson 4: 4. Play a role in creating your investment strategy/invest in what you believe in
26:32 Lesson 5: Match the timeframe of strategy with how you judge it
32:51 Lesson 6: Look to history for guidance
35:50 Lesson 7: Focus on fees
41:35 Lesson 8: History is more than we have personally experienced
48:43 Lesson 9: If it seems too good to be true, it probably is
57:42 Bonus: Disagreeing with Rick on the impact of passive investing

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