Lessons from Failure and Success in Investing

The chapter explores the failures of long-term capital management due to overconfidence, highlighting the importance of humility in investing. It also discusses the successes and regrets of venture capitalists like Chris Sacca, underlining the challenges of hindsight bias and the need to learn from mistakes in the investment process.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

On today's show, we learn about the biggest mistakes that legendary investors have made throughout their career. Our guest, Michael Batnick, recently wrote a book on this topic and provides insights from what he learned. Michael is often featured on CNBC and Bloomberg and he is the Director of Research at Ritholtz Wealth Management.

IN THIS EPISODE YOU’LL LEARN:

Why you shouldn’t talk about your investments.
Why Jesse Livermore is the most quoted and successful trader, but still went broke .
Why billionaire Chris Sacca said yes to Twitter, but no to Snapchat, Dropbox, and Airbnb.
Why it’s not what you don’t know, but what you do know for sure that gets you into trouble.
Ask The Investors: Do you think the increasing number of value investors is making value investing less attractive today?

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Michael Batnick’s book, Big Mistakes: The Best Investors and Their Worst Mistakes – Read reviews of the book.
Michael Batnick’s site, The Irrelevant Investor.
Michael Batnick’s podcast Animal Spirits.
Adam Smith’s book, The Money Game – Read reviews of the book.

NEW TO THE SHOW?

Check out our We Study Billionaires Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

River
Toyota
Range Rover
Fundrise
AT&T
The Bitcoin Way
USPS
American Express
Onramp
SimpleMining
Public
Vacasa
Shopify

HELP US OUT!

Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Learn more about your ad choices. Visit megaphone.fm/adchoices

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app

Home Top podcasts Popular guests