We Study Billionaires - The Investor’s Podcast Network

RWH004: Intelligent Investing w/ Jason Zweig

37 snips

Apr 12, 2022

Jason Zweig, a celebrated financial writer and expert on Benjamin Graham's principles, shares profound insights into investing. He emphasizes the need for self-control and the fact that luck plays a crucial role in success. Zweig reveals his perspective on disruptive technologies like Bitcoin and the moral dilemmas faced by financial journalists. He discusses the essential traits of humility and skepticism investors should cultivate while navigating a landscape filled with misinformation. He also muses on the real connection between money and happiness.

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ANECDOTE

Irving Zweig's Courage

Jason Zweig's father, Irving, a journalist, exposed a corrupt union boss.
Despite threats, Irving's reporting prevailed, showcasing quiet courage.

ANECDOTE

Irving Zweig's Unspoken Act

Irving Zweig once helped a black student being attacked, without revealing this act for 40 years.
The student, Glenn Irwin, called Irving decades later, expressing gratitude while Irving was dying.

ADVICE

Journalistic Responsibility

Treat readers' money as your own and maintain a sense of responsibility.
Avoid pandering; tell readers what they need to know, not just what they want to hear.

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The intelligent investor

Jason Zweig

Benjamin Graham

Written by Benjamin Graham, 'The Intelligent Investor' is a seminal work on value investing that has inspired millions since its original publication in 1949. The book emphasizes the importance of distinguishing between investing and speculation, calculating the intrinsic value of companies, and maintaining a margin of safety. The revised edition includes updated commentary by Jason Zweig, who provides modern examples and insights to help readers apply Graham's principles in today's market. Warren Buffett, a disciple of Graham, has praised the book as 'the best book about investing ever written'.

The devil's financial dictionary

Jason Zweig

Your Money and Your Brain

How the New Science of Neuroeconomics Can Help Make You Rich

Jason Zweig

Thinking, Fast and Slow

Daniel Kahneman

In this book, Daniel Kahneman takes readers on a tour of the mind, explaining how the two systems of thought shape our judgments and decisions. System 1 is fast, automatic, and emotional, while System 2 is slower, effortful, and logical. Kahneman discusses the impact of cognitive biases, the difficulties of predicting future happiness, and the effects of overconfidence on corporate strategies. He offers practical insights into how to guard against mental glitches and how to benefit from slow thinking in both personal and business life. The book also explores the distinction between the 'experiencing self' and the 'remembering self' and their roles in our perception of happiness.

Noise

A Flaw in Human Judgment

Olivier Sibony

Daniel Kahneman

Cass R. Sunstein

The book highlights the detrimental effects of noise in various fields such as medicine, law, economic forecasting, forensic science, bail, child protection, strategy, performance reviews, and personnel selection. Noise is defined as random or chaotic deviations from targeted behavior, which can lead to inconsistent judgments even among the same individuals under different conditions. The authors provide research-based insights and practical solutions to reduce both noise and bias, aiming to improve decision-making in multiple areas of life and work.

Against the Gods

The Remarkable Story of Risk

Peter L. Bernstein

Against the Gods: The Remarkable Story of Risk chronicles the intellectual journey that has led humanity from relying on oracles and soothsayers to using sophisticated tools of risk management. The book delves into the history of probability, starting from ancient civilizations and their limitations in understanding chance, to the modern era where risk is quantified and managed. Bernstein discusses how the development of probability theory and risk management has been a key factor in distinguishing modern times from the past[2][4][5].

The Little Book of Common Sense Investing

John Bogle