Recorded in front of a live audience for the CFA Society of Detroit’s Annual Luncheon, Morgan Housel shares key insights from his new book Same As Ever. Morgan Housel is a partner at the Collaborative Fund. His first book, The Psychology of Money, has sold over four million copies and has been translated into 53 languages. Listen now and learn: Why people get so focused on predictions How optimism and pessimism are needed for success The importance of stories in a world overflowing with data Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.  

William Bernstein, a neurologist turned investment advisor and renowned author, shares his insights on the four critical pillars of investing. He discusses the psychology of market bubbles and the common pitfalls investors face. Bernstein emphasizes the importance of historical context in financial decision-making and highlights the benefits of international diversification. He also explores the complexities of predicting investment returns and the impact of technological advancements on accessibility in investing.

Just as you'd scrutinize a potential new car's specs or a house's foundation, your investments deserve the same diligence. The Form ADV Part 2 offers a panoramic view into the inner workings of an advisory firm, from its business practices to the individuals pulling the strings behind the curtains.    Listen now and learn: Where to find this important document Key points to examine carefully How to make well-informed decisions regarding financial relationships   Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Hal Hershfield is a Professor of Marketing, Behavioral Decision Making, and Psychology at UCLA’s Anderson School of Management. His research, which sits at the intersection of psychology and economics, examines the ways we can improve our long-term decisions.    Listen now and learn: How our identities change over time Why our future self feels like a complete stranger Ways to make good long-term decisions easier on your current self   Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Dive into the world of evidence-based investing, where empirical research informs portfolio strategies. meets portfolio construction. This episode unravels the science behind applying successful investing strategies and avoiding mistakes that can hinder your financial growth.   Listen now and learn: Foundational principles behind evidence-based investing Insights into optimizing your portfolio for long-term Ways to avoid the typical pitfalls of individual and professional investors   Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The time for year-end tax and estate planning is now, and this year it’s particularly important to get started as certain provisions from the Tax Cuts and Jobs Act will end soon. Plancorp’s Susan Jones, JD, CFP joins the show to explain these important planning opportunities that deserve your attention before the end of the year.   Listen now and learn: The role tax projections play in long-term financial planning Multi-year planning opportunities for retirees, people with stock options, and business owners Potential impact of changing tax laws on the horizon   Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Live from Future Proof, the world’s largest wealth festival, Meir Statman talks about the evolution of behavioral finance and how the latest generation of behavioral finance focuses on holistic well-being.   Listen now and learn: The three generations of behavioral finance The difference between “errors” and “wants” The tradeoffs between a financially optimal and behaviorally optimal portfolio Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Concentrated stock positions typically emerge through employee compensation, inheritance, or a singularly successful investment. But in all cases, a large individual stock position introduces unnecessary risk to your portfolio.   Listen now and learn: Why investors tend to avoid diversifying concentrated stock positions  Four ways to diversify concentrated stock positions How SMAs supercharge tax loss harvesting efforts to offset capital gains When more advanced strategies such as exchange funds or option collars are best   Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

When you plan to invest a large amount of money, you probably want to know when it’s best to invest that cash. Should you invest it all at once or dollar cost average over time?   Listen now and learn: Historical probabilities of positive market returns How markets perform after reaching all-time highs Eye-opening results from a multi-decade study on market timing   Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Jesse Cramer, author of The Best Interest, joins the show to share his in-depth research into the astounding math behind car ownership.   Listen now and learn: How to evaluate the impact of time owned vs miles driven When purchasing a used car is smarter than buying a new car How leasing compares to owning from a cost perspective Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.