The Rational Reminder Podcast

Episode 331 - Cameron in Norway: The Indexing Revolution, and Key Lessons from Past Guests

Nov 14, 2024
Cameron shares insights from his inspiring trip to Trondheim, Norway, where he attended a notable event. He reflects on lessons from financial luminaries like Eugene Fama and Kenneth French. The shift towards index investing takes center stage, showcasing how it can optimize client service for financial advisors. Engaging stories from personal experiences emphasize the importance of curiosity and risk management in navigating market complexities. The tranquil beauty of Norway adds a delightful backdrop to discussions on community building in the finance world.
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ANECDOTE

Butcher Shop Beginnings

  • Cameron Passmore began his presentation with a photo of himself with Eugene Fama, reflecting on their Good Friday meeting.
  • He then shared a story about his childhood job in a butcher shop, connecting early lessons about customer care and market dynamics.
INSIGHT

Market Efficiency and Active Management

  • Efficient markets make outperforming difficult, as stock prices reflect available information.
  • Gene Fama is skeptical of active management, suggesting that bad active managers hinder market efficiency.
INSIGHT

Expected vs. Unexpected Returns

  • Asset pricing models offer expected returns, but unexpected returns can overshadow them.
  • Ken French emphasizes that unexpected returns can heavily influence actual returns, which many misinterpret.
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