Honestly, I think Graham's point about social media and investing is spot on. Why are we so obsessed with comparing portfolios? Who's with me on turning off the phone and focusing on real goals?📱❌
I have the 2006 version of 'The Intelligent Investor'. I found Jason Zweig's commentaries on each chapter far easier to understand than Benjamin Graham's. When I tried essentially day trading my experience was that I did an awful lot of work to barely make pennies. When I tried buy and hold value investing, just buying stocks of good companies that paid nice dividends at good prices and holding onto them indefinitely while I relaxed and let the dividends roll in, I made a LOT more money with a LOT less work and effort a LOT more reliably.
The intelligent investor isn't the first book i've read on investing. But its probably the most comprehensive i've come across. The way he anthropomorphized the market, by calling Mr. Market "irrational" was sheer brilliance! That idiom alone has allowed me to remain calm during extremely volatile periods. I can't thank Mr. Graham enough for what he has done for investing!
21:00 Interesting that Mr. Zweig advises financial advisors not to invest too heavily in their sector. Wouldn't a professional FA know this instinctively? Probably not, because in not too distant past he or she was probably selling a totally unrelated product. If from my comment you think I don't like financial advisors, you would be correct.
Most financial advisors today (true fee-based advisors) don't sell a product. That would describe people in financial services who are in the "transactional" end of the business. (think traditional brokers, insurances salespeople, annuity salespeople.) They all earn a commission when they sell a product. A fee-based advisor is more interested in growing their AUM (assets under management). They often earn a 1% (occasionally 2%) fee on the total funds they manage. That means their incentive is to grow that money, having the client's best interests in focus and not just their own. When you hear the word "fiduciary" bantered around, that's what it means. I am writing a new book about growing wealth that should be out early next year and it will have a chapter about advisors. (I am NOT one by the way). I actually thought that the advice not to invest in the same sector you work in makes good sense.
i can't believe this is the end of year already and I have investment goals I haven't achieved yet. I hear people talk about a bull run in the financial market and I just recently sold a home. Do you suggest I utilize a financial advisor on stocks to buy, or can I do it on my own?
It is just like asking if you should self-medicate, of course it's always better to consult a doctor, so yes it's a good idea to seek financial advise if you think you need guidance
For you to grow your portfolio in today's market, you really need to be coachable and willing to get off your high horses. I for example, have managed to grow mine from $150k to 300% of my initial deposit within the past 13 months just by copying trades from a broker that has better skillset and technical know-how than me.
Just gotta give props to Ralph Anthony D'auge, my CFA, he is the real deal in the finance game. Dive into his background, this man is a treasure trove of experience and knowledge for anyone navigating the financial jungle.
Zweig really channels Graham's wisdom. My next book will have a chapter that highlights both men. I have 43 years of financial service experience and enjoyed hearing all of Jason's insights.
Thanks for the analysis! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
Great guest!
Honestly, I think Graham's point about social media and investing is spot on. Why are we so obsessed with comparing portfolios? Who's with me on turning off the phone and focusing on real goals?📱❌
Thank you, Consuelo!
I have the 2006 version of 'The Intelligent Investor'. I found Jason Zweig's commentaries on each chapter far easier to understand than Benjamin Graham's.
When I tried essentially day trading my experience was that I did an awful lot of work to barely make pennies. When I tried buy and hold value investing, just buying stocks of good companies that paid nice dividends at good prices and holding onto them indefinitely while I relaxed and let the dividends roll in, I made a LOT more money with a LOT less work and effort a LOT more reliably.
My friends always brag on social media when they win big at the casino. But I never hear what they lost. The funny thing is they keep going back.
Excellent as usual, love the straight forward advice
The intelligent investor isn't the first book i've read on investing. But its probably the most comprehensive i've come across. The way he anthropomorphized the market, by calling Mr. Market "irrational" was sheer brilliance! That idiom alone has allowed me to remain calm during extremely volatile periods. I can't thank Mr. Graham enough for what he has done for investing!
I heard that the two best days are the day someone buys a boat and the day they sell that boat.
Great show
21:00 Interesting that Mr. Zweig advises financial advisors not to invest too heavily in their sector. Wouldn't a professional FA know this instinctively? Probably not, because in not too distant past he or she was probably selling a totally unrelated product.
If from my comment you think I don't like financial advisors, you would be correct.
Most financial advisors today (true fee-based advisors) don't sell a product. That would describe people in financial services who are in the "transactional" end of the business. (think traditional brokers, insurances salespeople, annuity salespeople.) They all earn a commission when they sell a product. A fee-based advisor is more interested in growing their AUM (assets under management). They often earn a 1% (occasionally 2%) fee on the total funds they manage. That means their incentive is to grow that money, having the client's best interests in focus and not just their own. When you hear the word "fiduciary" bantered around, that's what it means. I am writing a new book about growing wealth that should be out early next year and it will have a chapter about advisors. (I am NOT one by the way). I actually thought that the advice not to invest in the same sector you work in makes good sense.
one of the few kings remain
i can't believe this is the end of year already and I have investment goals I haven't achieved yet. I hear people talk about a bull run in the financial market and I just recently sold a home. Do you suggest I utilize a financial advisor on stocks to buy, or can I do it on my own?
It is just like asking if you should self-medicate, of course it's always better to consult a doctor, so yes it's a good idea to seek financial advise if you think you need guidance
For you to grow your portfolio in today's market, you really need to be coachable and willing to get off your high horses. I for example, have managed to grow mine from $150k to 300% of my initial deposit within the past 13 months just by copying trades from a broker that has better skillset and technical know-how than me.
Could you kindly elaborate on the advisor's background and qualifications?
Just gotta give props to Ralph Anthony D'auge, my CFA, he is the real deal in the finance game. Dive into his background, this man is a treasure trove of experience and knowledge for anyone navigating the financial jungle.
He appears to be well-educated and well-informed. I ran an online search on his name and came across his website; thank you for sharing.
Zweig really channels Graham's wisdom. My next book will have a chapter that highlights both men. I have 43 years of financial service experience and enjoyed hearing all of Jason's insights.
This is a very good interview.
Your most important assets are your physical and mental health. Without these you will make poor choices and decisions within many areas of your life.
Graham eventually gave up and admitted to tell people to just buy index funds.
Thanks for the analysis! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
Casinos are for losers like my brother BK Hollenbeck.
Yep for the most part they are completely losers!
Bitcoin. Why no videos about this important topic.