If you could teach one lesson to the average investor, what would it be?
In this episode of Two Quants and a Financial Planner, we compile and discuss the most impactful answers we have received to it. We break down valuable insights on investing and financial planning from experts like Michael Mauboussin, Rick Ferri, Bob Elliott, Andy Constan, Ben Inker, Meb Faber, and more.
We cover a range of crucial topics, including:
Michael Mauboussin: The importance of using base rates in decision making
Rick Ferri: Why simpler investment strategies often work best
Bob Elliott: How true diversification goes beyond just stocks and bonds
Andy Constan: Why most investors don't actually have an edge
Ben Inker: Understand who's on the other side of your trades and why they should give you a return
Ehren Stanhope: The importance of position sizing and risk management
Adam Butler: The future may be very different than the past
Meb Faber: The benefits of being a long-term "Rip Van Winkle" investor
Ben Carlson and Michael Batnick: Why there's no single perfect portfolio for everyone
Chris Davis: Remembering that stocks represent ownership in real businesses
Mike Green and Danial Crosby: Keeping investing in perspective with what truly matters in life
Whether you're a seasoned investor or just getting started, this episode distills years of wisdom into actionable lessons to improve your financial decision making. We hope you enjoy this highlight reel of some of our favorite guest insights!
0:00 Introduction
3:23 Michael Mauboussin on using base rates
9:52 Rick Ferri on keeping investing simple
15:01 Bob Elliott on true diversification
22:18 Andy Constan on not having an edge
24:53 Ben Inker on understanding who's on the other side of your trade
32:09 - Ehren Stanhope on position sizing and risk management
39:37 - Jason Buck on treating your investments as savinga
44:58 Adam Butler on the past being just one sample draw
49:39 Meb Faber on being a "Rip Van Winkle" investor
54:37 Michael Batnick and Ben Carlson on there being no perfect portfolio
01:00:10 Chris Davis on stocks being ownership in real businesses
01:06:07 Mike Green and Daniel Crosby on keeping investing in perspective
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