Meredith Jones – Don’t Let the Monsters in Your Head Become the Monster of Your Pocket
My Worst Investment Ever Podcast
Overcoming Psychological Barriers in Investing Through Rules-Based Approach
Learn about the significance of overcoming negative thoughts in long-term investing, as well as the benefits of rules-based investing to counteract psychological barriers. Discover further resources for reducing investment risk by visiting a recommended website.
Meredith Jones is an internationally recognized researcher-writer and speaker. She's worked in the investment industry for 20 years and is the author of Women of The Street: Why Female Money Managers Generate Higher Returns (And How You Can Too) which won an Axiom Award Gold Medal in 2016.
She was named one of Inc. magazine's “17 Inspiring Women to Watch in 2017”. She has been a regular columnist for Institutional Investor and is a contributor to Market Watch. She focuses on alternative investor investments diversity in investing and responsible investing.
On the other hand, Meredith is a foodie and wine lover and uses charcoal and open flames when cooking. She is also a figure skater and is inexplicably addicted to decaffeinated coffee.
Get to know Meredith as she narrates not only her own story on finances and investing but listen and learn more as she shares her golden tips so you won’t make that same mistake again. Hear this another great story in today’s episode of losing and winning it all.
“My worst investing mistake was not investing.”
– Meredith Jones
What do you want to hear from the My Worst Investment Ever Podcast?
Resources:
- My Worst Investment Ever Book
- myworstinvestmentever.com
- Women of The Street: Why Female Money Managers Generate Higher Returns (And How You Can Too)
Topics Covered:
01:38 – Meredith tells about her beloved Nashville – healthcare and booming financial hub in the South
03:39 – She shares her personal circumstances as a kid and why money was a big deal to her family
05:56 – How she ended up in the investment industry and the job insecurity she felt
08:17 – The financial crisis in 2008 and how it freaked her
12:21 – Lessons learned and self-realization from investing in the market
13:22 – Andrew recounts his own experience in investing in the market and the valuable lessons he learned
14:30 – How defining her acceptable personal level of cash made her a better investor
15:19 – The number one rule in investing
17:27 – Why spending should be a long-term game and how it will grow your wealth
18:02 – Rules-based investing and why it works
Main Takeaways:
Lesson 1: “What I want to do is make sure that I am taking an appropriate level of risk so being able to sleep and still have enough cash so that I don't freak out all the time and that's the balance that I've had to come to, but really my worst investing mistake was not investing.”– Meredith Jones
Lesson 2: “I may get lucky from time to time, but I'm not going to outsmart the market.”– Meredith Jones
Lesson 3: “You can't make money if you're not willing to lose a little bit of money. .”– Meredith Jones
Lesson 4: “Paying too much attention can sometimes make you indulge in behaviors that are not profitable.”– Meredith Jones
Lesson 5: “You have to trust that you can set a level of appropriate risk that you can set a financial strategy and then you have to trust that strategy to a degree. I didn't trust myself. I didn't trust the markets, and it cost me big time.”– Meredith Jones
Lesson 6: “Market will always come back, and that's very different from stocks you know stocks don't always come back, but the market generally will always come back. ”– Andrew Stotz
Lesson 7: “Number one rule in investing - never sell.”– Andrew Stotz
Lesson 8: “Investing is a long-term game. It's all about accumulating what you can so that you have it when you need it.”– Andrew Stotz
Lesson 9: “Don't let the monsters in your head become the monsters in your pocket. They will eat all your cash. You will end up with less than you started with.”– Meredith Jones
You can also check out Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Connect with Meredith Jones:
Connect with Andrew Stotz:
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