This chapter discusses the disparities between the first and second editions of the book 'The Four Pillars of Investing', highlighting the limitations of mathematical models in predicting financial markets, the importance of not interrupting investments during panics, and the increased accessibility of competent investing.
“The essence of investing is not maximizing returns, but rather maximizing odds of success.”
William Bernstein is a financial theorist, neurologist, and the best-selling author of “The Four Pillars of Investing: Lessons for Building a Winning Portfolio,” now in its second edition. Motley Fool Senior Advisor Robert Brokamp caught up with Bernstein to discuss:
- Why a 2% real return is “quite spectacular” - The math and Shakespeare of investing - Why value stocks may have fallen out of fashion - What the history of the stock market reveals about modern bubbles
Host: Robert Brokamp Guest: William Bernstein Producer: Ricky Mulvey Engineer: Rick Engdahl
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