Excess Returns Show Us Your Portfolio: Andrew Beer
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Jan 18, 2024 Andrew Beer, Founder of DBi, discusses his approach to managing his personal portfolio, including his views on stocks and bonds, incorporating managed futures, homeownership, and charitable giving. He also reflects on the importance of long-term thinking, being actively involved in philanthropic efforts, and the power of compounding.
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Money Means Security And Purpose
- Andrew Beer sees wealth as both economic and non-economic, with money enabling security and fulfillment.
- He prioritizes meaningful work and giving over pure wealth maximization.
Plan For Inability To Work
- Prepare financially for periods when you cannot work by ensuring comfortable living standards.
- Provide for your spouse and children but avoid making them completely financially dependent.
Time Allocation Beats Portfolio Tweaks
- Andrew Beer finds detailed personal asset allocation often adds little value relative to time spent.
- He prefers to spend scarce time on building businesses rather than obsessing about minor portfolio tilts.