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4min chapter
TIP478: Market Cycle Masterclass w/ David Stein
We Study Billionaires - The Investor’s Podcast Network
Is Your Loss Aversion Growing as You Get Older?
The longer I invest, the more I realize that I can't predict what's going to happen. As a result, my loss aversion has increased as I've gotten older and wealthier. Younger investors tend to have less assets and more human capital. And so they have the capacity to take losses because they have many years of work ahead of them in building up their assets. But in someone in my case that's invested for a number of decades and financially independent, I don't need to take big risk.
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