Skill, Luck, and Strategy: What Chess Can Teach You About Investing with Rubin Miller (EP.169)

In this episode, we tackle one of the biggest challenges investors face: making smart, strategic decisions in an unpredictable market. 

 

Drawing inspiration from the game of chess, my guest Rubin Miller will explain how to think several steps ahead when it comes to your portfolio, outmaneuver market uncertainty, and avoid costly mistakes. We also discuss the role of “luck” in investing and how good decisions do not always lead to good outcomes. 

 

With his chess expertise and role as Chief Investment Officer, Rubin has a knack for explaining tricky investment concepts so investors can feel confident in the decisions being made for them. 

 

Listen now and learn:

• The similarities and differences in decision making with chess and investing

• Why understanding the role of skill and luck is critical for long-term investing success

• How tools like options and diversification can help you manage risk and build a resilient portfolio

 

Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

 

[0:54] Chess, Investing, and the Art of Navigating Uncertainty 

[09:17] The Role of Skill and Luck in Investing 

[11:49] The Japanese Mochi Company: Focusing on What You Do Best 

[17:02] Certainty vs. Uncertainty: Building a Thoughtful Portfolio 

[24:02] The Challenges of Portfolio Construction 

[29:04] The Role of Options in Risk Management