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RWH034: The High Road To Riches w/ Peter Keefe
We Study Billionaires - The Investor’s Podcast Network
Advice for Young Investors and the Importance of Market Timing
When mentoring young investors, I tell them to make a choice between being an economist or an investor, unless they are one of the five people who can consistently predict the future. Personally, I don't have the mental capacity to focus on predicting currency, commodity prices, and market movements. Instead, I focus on ingesting information in a way that minimizes the importance of these factors. This aligns with a point made by Howard Marks in his book, highlighting that if you miss even a few days in the market, you could miss out on a significant portion of the market return.
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