Avsnitt
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Comparison can derail financial goals, especially in investing. It's natural to see others' apparent successes and feel the urge to match them. Whether it's comparing investment returns or lifestyles, focusing on your own unique financial plan and goals helps maintain steady progress without getting sidetracked by others' outcomes.
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Come along for a journey where we uncover the intriguing connection between politics and finance, drawing wisdom from the legendary Warren Buffet and historical trends. Discover why emotions reign supreme in market dynamics and why staying the course is often the wisest move.
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Saknas det avsnitt?
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Explore how the metaphor 'the map is not the territory' sheds light on the complexities of financial markets, offering insights to guide you through navigating changing terrains with clarity and caution.
Why I started this podcast: 0- 1:25
What tools/maps are you using?: 1:25 - 2:41
2016 Rio Story: 2:42 - 3:14
The map is not the territory: 3:15 - 5:02
How does this relate to retirement?: 5:03 - 6:07
Things to consider: 6:08 - 7:33
Questions to ask yourself before making a decision: 7:34 - 8:00
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In this episode, we'll discuss the limitations of models like Value at Risk (VaR) in predicting rare events, highlighting the importance of being prepared for unforeseen circumstances. I also touch on the anchoring bias and how it can lead investors to overemphasize past performance, overlooking current market conditions. we'll finish up with practical tips on staying flexible, updating beliefs, and investing for preparation rather than prediction.
Below are the time stamps of specific topics mentioned.
Expect the Unexpected: 0 - 0:45
Intro: 0:45 - 1:20
Value at Risk: 1:19 - 2:40
100 Year Events: 2:40 - 3:20
Value at Risk Criticism: 3:21 - 3:42
Alan Green Span Quote: 3:44 - 4:18
Anchoring Bias: 4:19 - 4:49
2023 Predictions: 4:50 - 6:41
Action Items: 6:43 - 8:15
Books mentioned:
Same as Ever - by Morgan Housel
Naked Statistics - by Charles Wheelan
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In this episode, I dive into the concept of survivorship bias. You know those stories of college dropouts who become billionaires or the companies that skyrocket in value, dominating the market? Well, these stories can create a skewed view of success. I explain how survivorship bias leads us to focus on the winners while ignoring the countless failures that didn't make it. By understanding this bias, we can make more informed decisions and avoid overvaluing certain strategies or assets. Join me as I uncover the hidden truths behind success and failure in the financial world.
Timestamps:
Survivorship Bias - 1:35
Fooled by Randomness - 1:53
World War II Illustration - 2:30
Crypto Currency Example - 3:48
Day Trading Statistics - 4:24
How to Avoid Survivorship Bias - 5:38
Elevate Perspective - 6:20
Attaining Someone Else's Success - 7:07
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Join me as we explore the everyday challenges that bombard us with fear and panic, from the relentless barrage of news to the pressure of keeping up with the successes of others. It's easy to get lost in the noise of modern life, but by drawing parallels between these challenges and the ancient Greek myth of the Sirens, we can uncover valuable insights. We'll explore strategies for navigating these challenges, maintaining focus on our long-term goals, and applying a mental framework to overcome them. Thanks for listening!
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Today, we're diving into the world of decision-making with insights from Annie Duke's book, 'Thinking in Bets.' Join me as we explore how to make smarter decisions in investing, even when faced with uncertainty. Learn how to focus on the quality of your decision-making process rather than being solely influenced by outcomes. Let's enhance your decision-making skills together!
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Join me as we explore the importance of patience, consistency, and long-term planning in building wealth. Just as a tree's roots anchor firmly, strategic investments and financial habits provide stability and yield fruitful results over time.
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Thanks for listening! This is a trailer on what to expect going forward. I hope you enjoy this and please let me know what you think!
