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White Coat Investor Podcast
MtoM #211: Psychiatrist Gets Back to Broke and Finance 101: The Dangers of Performance Chasing
Feb 24, 2025
A psychiatrist shares his remarkable journey from being deeply in debt to achieving financial stability, all thanks to his supportive wife and friends. He emphasizes the importance of teamwork in reaching financial goals. The discussion also delves into the dangers of chasing recent investment performance, highlighting the need for long-term planning. Listeners learn about the risks of impulsively investing in high-performing stocks and the value of maintaining a diversified portfolio to withstand market fluctuations.
29:17
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Quick takeaways
- A psychiatrist shared his journey from 'back to broke' to financial stability by saving with his wife and focusing on financial planning.
- Performance chasing can jeopardize long-term financial stability, as it often leads to abandoning diversified portfolios in volatile markets.
Deep dives
The Benefits of Working Locum Tenens
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