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The stock market is not your friend. Instead, the market awakens a dangerous emotion — fear. Often we are too fearful to invest in stocks, or, having taken the plunge, we become convinced that we are invincible, that our risk tolerance is limitless. Fear is not your friend, either. Being a successful investor requires emotional […]
Listen on: iTunes | Google Podcasts | Online This article is Part 3 of a 3-part series discussing how investors can avoid acting irrationally. Read Part 1 and Part 2. Investors are prone to two opposing but equally debilitating fears: the fear of missing out when times are good, and the fear of loss when markets are volatile. These two fears have a […]
Listen on: iTunes | Google Podcasts | Online This article is Part 2 of a 3-part series discussing how investors can avoid acting irrationally. Read Part 1 and Part 3. Investors are prone to two opposing but equally debilitating fears: the fear of missing out when times are good, and the fear of loss when markets are volatile. These two fears have a […]
Listen on: iTunes | Google Podcasts | Online This article is Part 1 of a 3-part series discussing how investors can avoid acting irrationally. Read Part 2 and Part 3. The stock market is not your friend. You want to approach it the same way the American president should approach a one-on-one meeting with the Russian president: Be respectful but cautious. He might […]
Few people have had as great an impact on me as an investor as Nassim Taleb. A good friend gave me his book Fooled by Randomness on my thirtieth birthday in 2003. In that book Nassim eloquently analyzed something I had struggled with for a long time: the role randomness plays in life and the stock market. […]
Today I am going to share with you an article I wrote after the January 2018 stock market volatility. It’s as relevant today as it was then. However, this time around you don’t have to strain your eyes; you can use your ears. Optimal Living Daily has turned my article into a podcast. Turn off […]
Don’t let this wave of stock-market volatility go to your head. The value of the companies in your portfolio doesn’t change by a positive or negative 5% three times a day. Get the value right and the price will follow. For example, my firm recently met with a prospective client, a physicist who has made […]
Listen on: iTunes | Google Podcasts | Online I’ve been asked to comment on the most recent market decline. My initial reaction was, markets go up and they go down. America is a great country but the US Constitution doesn’t guarantee always-rising markets. I sat down and I wanted to write a reassuring message. I wanted to express my empathy. Somehow, I found that my reservoir of […]
Guy Spier is a tremendous value investor who happens to be a good friend whose company I truly enjoy. He is the most cosmopolitan person I know. He was born in South Africa, spent his childhood in Iran and Israel
