Larry Swedroe's "Your Complete Guide to Factor-Based Investing" delves into the world of factor investing, a strategy that focuses on identifying and exploiting specific factors that drive returns in the stock market. The book provides a comprehensive overview of various factors, including value, size, momentum, and quality, and explains how to construct portfolios that leverage these factors to enhance returns and manage risk. Swedroe emphasizes the importance of diversification and cost-effective investing, advocating for low-cost index funds and ETFs. The book also includes numerous references to academic research and empirical evidence, supporting the claims and recommendations made throughout. It is a valuable resource for both novice and experienced investors seeking to improve their investment strategies.
The novel follows Robert Scott Carey, who, after being enveloped by a strange mist and accidentally ingesting insecticide, begins to shrink at a rate of approximately 1/7 inch per day. As he shrinks, Carey faces numerous challenges, including estrangement from his body and relationships, and must navigate a world that becomes increasingly hostile and alien. The story raises questions about what it means to be a man in 1950s suburban America and the fears associated with losing traditional masculine roles.
In this book, Annie Duke teaches readers how to make better decisions by treating them as 'bets' on uncertain outcomes. She emphasizes the importance of distinguishing between the quality of a decision and its outcome, acknowledging the role of luck, and avoiding biases such as 'resulting' and hindsight bias. Duke draws on her experiences as a professional poker player and combines these with insights from cognitive psychology and other fields to provide tools for making more objective and thoughtful decisions. The book encourages readers to get comfortable with uncertainty, seek truth through diverse opinions, and learn from outcomes to improve future decision-making[1][3][5].
In this book, Burton G. Malkiel argues that stock market prices are essentially random and unpredictable, aligning with the efficient market hypothesis. He discusses historical financial bubbles, the futility of trying to beat the market through technical or fundamental analysis, and the importance of a diversified portfolio. The book also covers various investing techniques and theories, including modern portfolio theory, and advises investors to adopt a long-term, disciplined approach to investing.
Today, I’m speaking with Larry Swedroe. Larry is the former Chief Research Officer at Buckingham Strategic Wealth, an accomplished author with 18+ books on investing, and a true pioneer in evidence-based investing. He’s also a well-known advocate for cutting through the financial media noise to focus on strategies that actually work.
In Larry’s latest book, Enrich Your Future: The Keys to Successful Investing, he distills decades of financial wisdom into 40 powerful stories that make investing principles easy to understand and apply.
In our conversation, Larry shares the science behind behavioral finance and explains why most investors fall prey to emotional biases, media hype, and market timing traps. We also dive into why passive investing remains a leading strategy among investors, how to truly measure risk, and why a globally diversified portfolio beats stock-picking in the long run.
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In this podcast interview, you’ll learn:
- Why passive investing isn't just a trend—it’s a game-changer for wealth-building.
- The biggest mistakes investors make and how to avoid them.
- The difference between risk and uncertainty, and why most investors get it wrong.
- Why the market is smarter than any single investor and what that means for your portfolio.
- How to structure an investment portfolio based on empirical research, not emotions.
- The surprising link between retirement, purpose, and mental health—especially for retired men.
Show Notes: RetireWithPurpose.com/494
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ABOUT HOWARD BAILEY FINANCIAL: Our mission is to help others gain clarity in purpose and elevate meaning in their lives through personal and practical financial strategies. Our Retire With Purpose™ Framework starts with establishing your unique financial philosophy — the true meaning and purpose for your money in retirement. Through continued education, one-on-one meetings, and a comprehensive team planning approach, we have helped retirees across the country secure their financial futures. And while we can't work with everyone, our goal is to provide value to everyone we meet. Our team of advisors and support specialists strive to deliver the very best experience in pre-retirement and retirement planning. Learn more about our process here: https://howardbailey.com/our-process
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