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28min chapter
Ashby Daniels Challenges Conventional Wisdom (Rewind) (EP.155)
The Long Term Investor
Challenging Conventional Financial Wisdom in Investing
This chapter delves into the flaws of traditional financial wisdom when it comes to investing, focusing on the media's influence, investors' tendencies to blame external factors, and the misconception of risk based on volatility. It emphasizes the importance of aligning financial decisions with personal goals and using averages as benchmarks for success rather than trying to beat the market. The chapter also stresses the value of learning from others' mistakes, diversification, and the counterintuitive yet effective strategy of staying the course in investing.
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