BIG MISTAKES (BY MICHAEL BATNICK)
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- เผยแพร่เมื่อ 9 มิ.ย. 2024
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In this animated video summary of Big Mistakes, written by Michael Batnick, you will learn about the worst investing mistakes caused by the best investors. Even people like Warren Buffett, Bill Ackman, Stanley Druckenmiller and the legendary Benjamin Graham have had occasional screwups. The difference between these people and “normal” people is that they’ve accepted that mistakes are just a part of the game - and that you can learn and grow from making them.
The works of legendary “father of value investor” Benjamin Graham: bit.ly/2Txvxgd
Top 5 takeaways from Big Mistakes by Michael Batnick:
00:00 Intro
02:00 1. Warren Buffett and the availability heuristic
04:21 2. Mark Twain and the law of holes
06:05 3. Bill Ackman and ego
08:10 Stanley Druckenmiller and investing that "fits"
10:00 Benjamin Graham and leverage
My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there - investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties - I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process - upgrading your money-making toolbox.
Learn from legendary “father of value investor” Benjamin Graham: bit.ly/2Txvxgd
If you learn from your own mistakes, you are doing good but if you are learning from other's mistakes then you are doing better.
WARREN BUFFET
You just have to overcome the "that-would-never-happen-to-me"-bias first 😁
Thanks for the summary!
Many books are full of empty words and only have a few gold nuggets. You allow us to save our money (giving us knowledge and saving us time)
I'm happy to hear it Alejandro Carbajo, that is what I'm hoping to achieve with this channel. To provide people with the knowledge so that they can make their own financial decisions and improve their financial situations. I think that many of the books are worth a read though as they have considerably more than 5 takeaways and as they are able to go deeper than these videos, but hopefully the videos can help you realize you'd be more interested in spending time on.
12 min video vs. 10 days reading the book.
Thanks for the one saved.
Saved us plenty of time ⏱ Much more efficient this way 🤔
Michael DeRiso right!
Wolf of Dubai Stocks Investing Channel 👍
Glad you liked it man, cheers! 😁
Learn from those mistakes. Mistakes are just a part of the game. Learn from those experiences! Awesome video 🔥
I'm happy to hear that you enjoyed it man, cheers! 🙌
The Swedish Investor Definitely. I like listening to your perspective. Especially since you are from Sweden which is pretty far from where I’m at in the States. Do you see any local trends or products that are growing there in Sweden 🇸🇪 that people in the States may be missing? I’m always looking for those opportunities - especially if they are on the public stock exchange!
I do agree we can learn so much with mistakes as with success too....
Thank you for your work! The channel is great.
Great video. Behavioural biases is not uncommon. One of the mistakes I tend to make is loss aversion or the ‘hole’ example you made. To prevent - I’ve learnt to take a step back to evaluate the overall portfolio and setting limits/stop loss at the outset.
Cheers Shez Ray, thanks for sharing!
I think this is best yours "takeaways" I've see so far.
It's brilliant to be perfectly honest. With clear message and great summary. 👍
Seems that book is worth reading.
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Im so glad that i found your channel mate. You're awesome! Cheers from Brazil!
Rafael Feranda I appreciate it a ton! 😍
Thank you for your videos Swedish, I love them so much and owe a lot of knowledge to them.
Macy Colquette I'm very happy to hear that you enjoy the videos! Thank you for your support! 🙌
The mount of work & effort you consistently put into your several contents is more than valuable to acknowledge. Great appreciation for the later. Be well'.
I appreciate that Af Sa! Cheers!
Video Summary:
1. Warren Buffet: Availability Heuristic theory: A mental short cut that relies on immediate examples that comes to someone's mind when making an important investment decision. One shoe company with high moat investment followed by another shoe company with low moat investment. Second will fail.
2. Mark Twain: Law of holes: Stop digging deep if you keep digging deep. Admit defeat before it is too late.
3. Bill Ackman:: Ego : Purpose of Investment is to make money not be proven right. Don't express opinions about stock market, ego gets in way of rationality.
4. Stanley Druckenmiller: Investing that fits. Dont venture too much out in the unknown.Stay in circle of your competence. Expert macro investor that dipped toes in tech and failed.
5. Ben Graham and Leverage: Went all in and some leverage money in great depression, thinking stocks were cheap.Stocks fell. No investment style is refractory to short term fluctuations. Investors must capture a PF that capture enough in bull market and exist quickly in bear settings.
One of your best reviews
I don't know what to say !! Just pure gold !! Thank you very much for this masterpiece. A real life saver !! ⭐ ❤❤
Cheers Jean Police! 😍 I'm grateful for your support!
Thank you for sharing
As always, thank you.
Thank you sir.
Just subbed, great content!
Amazing video, thank you!
Maverick, I'm happy to hear it! Cheers! 😁
... no other word to explain it...
Brillian!!
Terima.kasih from indonesia
Thank you🤗
This is the best book and your explanation is way too good 👍
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You are doing very good work. I am binge watching your channel from 2-3 days instead of Netflix 😂😂
@The Swedish Investor yes, I am interested
Great videos
🙌
Great
Staying is circle of competence is huge!
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Great channel.
I appreciate your comments, do well to write Williams, my account manager on how to make huge profits in crypto
W. H. A. T. S. A. P. P.
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Nice vidéo
Well done again! I'm still amazed at the rate in which your channel grows, I'm way in the shadows taking baby steps lol
I'm glad that I have your support Financial Wisdom! Keep working on it! 🙌
Growth depends on the content
One of my favorite labels for human emotion in investing manias is Irrational Exuberance! It’s interesting to see that even Buffett and Munger have their regrets. Great video!
Thank you Ross Campoli! 🙌 Also, that's an interesting book I think, it may appear on this channel in the near future
The Swedish Investor looking forward to it!
Good Work
I appreciate your comments, do well to write Williams, my account manager on how to make huge profits in crypto
W. H. A. T. S. A. P. P.
+1. 2. 1. 0. 5. 5. 6. 0. 7. 4. 2.
6 sec before midnight 😂😂😂... you made my day
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Thank you my swedish!
Learning from other people's mistakes gives you a huge leg up let alone learning form the investing superstars.
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Can we do a video for the book: "Get rich with dividends" please?
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You should probably add UK fund manager Neil Woodford to this list. The story of the collapse of his eponymous equity income fund pretty much combines all of the mistakes mentioned in the video apart from perhaps using leverage.
Great video. Greeting from India
Agreed 👌
🌟
Hey Swedish investor, when reading a book do you get a hardcopy or Kindle or maybe audiobook?
And what other books do you have planned for the future?
Hi Keshaw and thank you for your questions. I tend to get the Kindle-version mostly, as I want to be able to read whenever I have downtime, then it's practical to have all the books in your phone. Moreover, I get the audio with that whenever possible, because it increases the reading efficiency. Plenty of books within the field of long-term investing planned for the future, next one will be "The Acquirer's Multiple"
Excellent question
We never lose. We either win or learn!
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Lessons learned from failure can be more powerful than lessons learned from unhindered success.
Getting close to that 100k milestone friend. I hope you can keep that momentum up! Consider this a preliminary congratulations!
YOUsernameism thank you! I'm happy to see that you are still here and watching the videos 😊 hope you still enjoy it!
To be fair, herbalife is an mlm tho. But money talks. So.
Do you do DCF analysis or only look for the intrinsic value by fundamentals.
Both, but in different phases of the investing process. The DCF is time-inefficient and should only be applied to companies that you truly understand, which means that this only makes sense very late in the process, once you are pretty much sure that you have an interesting opportunity. It should work as one of the final filters only.
@@TheSwedishInvestor happy to hear that bcz even I do think same.. and often skip the part of dcf and valuation.. I just only if something is undervalued and good company and they are not going to be bankrupt..then I am in
CAN YOU DO A VIDEO OF Dao of Capital pls?
I appreciate your comments, do well to write Williams, my account manager on how to make huge profits in crypto
W. H. A. T. S. A. P. P.
+1. 2. 1. 0. 5. 5. 6. 0. 7. 4. 2.
Thank you for your constant tips!! As a creator as well, it is good to have channels like yours to learn from. I talk about millennial lifestyle advice and faith on my channel. Best regards
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You once told that you use the magic formula to filter out companies, but that means you will never buy a company with a high pe ratio( and high pe ratio doesn't necessarily mean it's a bad company, and rather depends on different industries/ sectors/business). So isn't your approach a bit wrong.( A company with good moat and high recall value will always have a high pe ratio).
The magic formula is not one of my primary investing tools, but I've been using the theory behind it, filtering out interesting companies based on quantitative information, for a long time. What the magic formula does is that it searches for discrepancies between value (RoA/Return on capital) and price (P/E / Earnings Yield). This way, it is trying to find what Buffett looks for - "Wonderful companies at fair prices"
Is technical analysis necessary to become a good investor. Please tell a course or website to learn it.
Stay the fuck away from technical analysis.
Hahaha ... I've made a few videos about technical analysis in the past but to be honest, that has never been my style of investing, and it seems that people who are using the Buffett-approach have more reliable returns over time. I'll have to agree with Goatpriest on this one.
@@TheSwedishInvestor thanks for answering
It’s not really that good.. maybe ok for geniuses but plenty of nonsense in it.
U should speak in universities , Bro , salute , respect
I'm flattered! Thank you for your support! 😍
I wonder if its any coincidence this video comes out now...🤔🤫😋
I just committed all 5 of these and felt that I needed some accountability to comply with the lessons 😉
Amazing now I want to be TH-camr like you ...
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*Mistakes happen. Just move on and keep investing.* 😉
Agreed. I think it could be good to make a note too, both mentally and in an Excel spreadsheet or similar, and then get back to it 😊
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My guy dropping dimes at 3:56am EST
I’m not the only one awake! Haha. 👌
Haha, cheers Avery Adams! I hope the takeaways were understandable even at such a late hour (or that you re-watched it again in the morning 😉)
It would be great if you can share via email your takeaways in PDF so that we can have them ready in hands!
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Hi.i live in Sweden and needs resources to find info about Swedish stocks? Currently using Avanza and Nordnet but most if not all discussions are in Swedish :(
Hi F! borsdata.se/ is quite powerful for quantitative data 😊
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Bill Ackman did lose money on his short. But he was not wrong!
For how long you are into investing sir
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I don't think from my knowledge that Graham lost stock in 29, but in reality his parents did and he just remember his father personal trouble deriving from it. That's why he was always so prudent, buying net net.
Graham was 35 in 1929, pretty sure it was him 😊 Maybe you are thinking about Buffett?
@@TheSwedishInvestor actually you're right, I must have read in some book differently. Sorry, thanks the video was really cool by the way. Wow, he was born in 1894 :O. I thought he did later actually.
Great video and awesome
Content. The law is holes is applicable to all except Tesla. Without Elon’s perseverance, there would be a Tesla today.
Hmm why there are no more timestamps ?
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Bill Ackman repeated the same mistake again.
Herbalife is down 82% from its high in 2019. Alkman wasn't wrong, he just couldn't afford to wait any longer.
Don't you think "Business adventure" can be a good book to summarise?
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Well Ackman was not wrong about Herbalife facts though...
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Ackman analysis is NOT what actually happened. It was Carl ICahn. The problem was not that Ackman was wrong then his ego prevented him. It was that he publicly went short with one billion and he had a previous bad blood with Icahn. Then Icahn short squeezed him. Even Icahn said on life TV, it will be the mother of all squeezes. Ackman lost one billion and Icahn gained one billion. So the MORAL of the story has nothing to do with ego. Rather 1. Never go public on a huge short (a bigger shark can squeeze you 2. Never annoy Icahn 🤣🤣😂😂
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At some point you have to use the "would you like to see more" from Starship Troopers to advertice another video of yours in a video of yours. If you use it give me a litte shout out
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PewDiePie? Is that you?
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leverage is for bear markets. keep some powder dry during raging bulls
Don’t make the mistake of believing we evolved from apes is a good start
Toi much ad!
I appreciate your comments, do well to write Williams, my account manager on how to make huge profits in crypto
W. H. A. T. S. A. P. P.
+1. 2. 1. 0. 5. 5. 6. 0. 7. 4. 2.
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“Ever heard about bitcoin” that would actually makes you rich now 🤣🤣🤣
@The Swedish Investor oh wow what is it
I cant get it are those peope making decisions all by themselves? Don't they have analysts? Can't they hire someone who knows about tech? It is all stupid. I don't think they make decisions for billions by themselves haha I cant even imagine it
I'm glad I didn't waste money and time to buy and read this useless Michael Batnik book
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