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Life's Too Short
Risk of Ruin
Owning Equity Makes Stocks Less Risky
There's been a great democratization in the ability to own stocks, which probably could be a good thing for sophisticated investors. But it also increases the odds that the other side gets bailed out if things don't go. And as people don't see that owning a stock is risky, ah, you have more and more irresponsible behavior leads to bubbles and all sorts of distortions. People feel better mentally whone stocks go up, and they feel worse when stocks go down. I can't change the world. I can only fix a small part of it that has my attention.
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Listen to the best highlights from the podcasts you love and dive into the full episode