As regular viewers know, this channel's mission is focused on wealth building, how to help its viewers fund their life goals.
Risk management is a big part of successfully building wealth. But many people -- even sometimes the "smartest guys on Wall Street" -- fail to adequately protect themselves from downside risk.
Perhaps the best-known example of this is the surprise implosion of the hedge fund Long Term Capital Management, back in the late 1990s. The firm was helmed by some of Wall Street's most revered talent as well as several recipients of the Noble Prize in Economics -- and yet it failed spectacularly.
What lessons can we learn from this? And what chance does the regular investor have in making good financial decisions over time when even the cream of the crop can get things so wrong?
For answers, we're fortunate to hear from Victor Haghani, one of the co-founding partners of Long Term Capital Management and co-author of the brand new book, The Missing Billionaires: A Guide to Better Financial Decisions
#investing #wealthbuilding #wallstreet
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IMPORTANT NOTE: The information, opinions, and insights expressed by our guests do not necessarily reflect the views of Wealthion. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.
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