Two Quants and a Financial Planner

Our Guests Gave Us 119 of Their Most Important Investing Lessons: We Give You Our Favorite 12

11 snips
Aug 26, 2024
Guest
Michael Mauboussin
Guest
Rick Ferri
Guest
Bob Elliott
Guest
Andy Constan
Guest
Ben Inker
Guest
Meb Faber
Join experts like Michael Mauboussin, a strategy guru, and Rick Ferri, a seasoned advisor, as they unpack crucial investing lessons. Discover the power of base rates in decision-making and the advantages of simplicity in strategies. Bob Elliott warns against viewing diversification too narrowly, while Andy Constan reveals why most investors lack an edge. Meb Faber emphasizes the value of long-term investing, and the group stresses treating stocks as ownership in businesses. This is a treasure trove of wisdom for anyone looking to sharpen their financial acumen!
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ADVICE

Use Base Rates

  • Learn about and apply base rates when investing.
  • Consider the larger reference class and what happened in similar past situations.
INSIGHT

Base Rates vs. Predictions

  • Most people try to predict markets using readily available information.
  • A base rate approach suggests considering past outcomes under similar conditions.
ADVICE

Keep It Simple

  • Simplify your investment strategy, even using just two funds.
  • A simple, balanced approach offers cost savings and frees up your time.
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