Transitory Bear Markets, the Power of Doing Nothing, & Big Tech's Dominance | Ben Carlson

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Jul 26, 2023

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INSIGHT

Bear Markets Are Transitory

Bear markets are cyclical and always transitory, nothing lasts forever in markets.
Recency bias causes people to expect current trends to continue indefinitely, which is misleading.

ANECDOTE

Early Career Lessons from 2008

Ben began his career just before the 2008 crash and saw seasoned investors panic.
He bought stocks aggressively during the downturn knowing he had a long time horizon, which proved successful.

ADVICE

Maintain Liquid Cash Reserves

Keep money needed within five years outside the stock market in liquid, safe assets.
This prevents panic selling and allows long-term investments to grow undisturbed.

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Ben Carlson, Director of Institutional Asset Management at Ritholtz Wealth Management, joins the show to discuss how understanding the history and cyclical nature of the financial markets can help you be a better investor, why the counterintuitive strategy of sitting on your hands and doing nothing can improve investment decisions and minimize mistakes, big tech's dominance, and disconnecting the definition of wealth from money. Hosted by Morgan Housel and Doug Boneparth. Public.com allows you to invest in stocks, crypto, and alternative assets. Get started by signing up at Public.com with code PODCAST. Public Lives are designed to help you be a better investor through access to context, information, execs, and analysts. This content is for informational purposes only and is not investment advice. Open To The Public Investing is member of FINRA and SIPC. See Public.com/disclosures for more information. Brokerage services for US-listed, registered securities available on Public are offered by Open to the Public Investing, Inc. (OTTP), member FINRA & SIPC. Brokerage services for securities issued pursuant to Regulation A of the Securities Act of 1933 are offered through Dalmore Group, LLC (Dalmore), member FINRA & SIPC. OTTP and Dalmore are not affiliated entities. Alternative assets are self-custodied and are not covered by SIPC. Alternative assets are speculative, involve substantial risks (including illiquidity and loss of principal). The issuers of these assets may be an affiliate of Public, and Public (or an affiliate) may earn fees when you purchase or sell these securities. Cryptocurrency trading provided by Apex Crypto LLC (NMLS ID 1828849). Apex Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Investment services and the Brokerage Accounts for treasury securities are offered by Jiko Securities, Inc. (“JSI”) member FINRA and SIPC. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value. Banking services and the Bank Account are provided by Jiko Bank, a division of Mid-Central National Bank, Member FDIC.