Investing In Uncertain Times w/ Joel Greenblatt, Bill Miller, Howard Marks, François Rochon (RWH021)

William Green showcases some of the most valuable insights from four investing superstars who have recently appeared on the “Richer, Wiser, Happier” podcast: Joel Greenblatt, Bill Miller, Howard Marks, & François Rochon. Here, these famed investors share practical lessons on how to deal with uncertainty & handle the emotional challenges of investing in turbulent times.

IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:03:34 - How a disastrous investment taught Joel Greenblatt that anything can happen.
00:10:34 - What Fidelity legend Peter Lynch learned from a shocking setback early in his career. 
00:12:06 - How to protect ourselves from uncertainty, bad luck, & our own analytical mistakes.
00:12:49 - Why Howard Marks warns that you shouldn’t push the limits if you want to avoid ruin.
00:14:48 - How Joel Greenblatt deals with mistakes by learning from them, then moving forward.
00:24:08 - How Joel handles the “kick in the stomach” when an investment goes wrong.
00:31:02 - How to succeed by taking advantage of the wild emotional mood swings of the crowd.
00:32:30 - Why stock pickers must learn to value businesses, buy at a discount, & then wait.
00:36:17 - How Bill Miller handles the discomfort of brutal losses during the most turbulent times.
00:39:00 - What Bill advises regular investors to do so they can endure the pain of market mayhem. 
00:40:33 - Why Howard Marks says we need to be honest about our tolerance for risk & loss.
00:42:06 - How the best investors diversify or concentrate in ways that suit their temperament. 
00:46:07 - Why Howard believes that “emotion is the greatest enemy of superior investing.”
00:48:35 - How Sir John Templeton thrived by hunting for bargains in the most-hated markets.
00:52:41 - Why Howard Marks thinks he was wrong to be a “knee-jerk skeptic” about Bitcoin.
00:55:30 - How to safeguard against our own biases, hubris, & overconfidence.
01:00:58 - Why François Rochon is convinced that it’s rational to be optimistic about the future.
01:02:51 - What history shows about mankind’s extraordinary ability to find solutions to its problems.
01:13:31 - Why Warren Buffett says that bad news is an investor’s best friend.
01:15:23 - Why Buffett regards babies being born in America today as “the luckiest crop in history.”

▶️ RELATED EPISODES:

💡 OTHER RESOURCES
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤

ABOUT OUR SHOW 🎙 
On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.

⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤

⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.

[WeStudyBillionaires]

⚠ IMPORTANT: Please beware of cyber scams and phishing attacks. We will never ask for your contact info in the comments section. Kindly report suspicious accounts you see below. Thank you!

[fernandorodriguez]

This is really a great contribution of excerpts from great investors combined with great interpretations by the host. Thank you very much William!!!

[montecrist]

I discovered this channel a few weeks ago. What a treasure! Subscribed.

[HaruSakamoto]

William's videos, especially this one is a pure diamond.
It's almost astonishing to me that these informations are still considered as "contrarian" to most people. Ever since series of great investors had been saying similar messages almost 100 years ago, I guess every generation just defaults to its own human nature, and all those accumulated knowledge is found by only the ones who look for...

[jackwu]

I read your book (Richer, Wiser and Happier) and I loved it! Surely it made a huge and positive impact on me. Listening to this Podcast is a great recap. Thank you William and Thank you We Study Billionaire for this great podcast.

[daryloehley]

Thank you William, it's always so refreshing to listen to your podcast, I always feel the world will be a better place and more positive. Always worth the listen

[QualitativeInvestor]

This is an absolutely great episode, William!

[felixubogu]

Thank you William! You perform a great service to society in sharing the thoughts, experience and guidance of these truly exceptional investors.

[hirenpatel]

Fantastic episode, William! You talks have been a treasure trove and I find myself listening to them again and again. Thank you so much!

[maddysydney]

William, this is a treasure trove of investing wisdom that you have captured in such a very structured and annotated video. I can already say I will be listening to this at least every month until all the key ideas are seared into my memory. Kudos!

I hope to connect with you some day and may be you can help me write my investing book. 🙏🏼

[dragonchii]

A recap of the podcast interviews of the year in December would be a great addition to the reflection that a lot of us practice around that time. I enjoyed the episode William. Thank you for bringing us RWH.

[mathieujasinski]

Thank you so much, my favourite podcast. Loved Richer Happier Wiser so much, recommending it to anyone interested in investing, cheers

[nunofreitas]

Thank you...this is better than public service!

[dessanguyen]

Wow the algorithm sent me here, today, after so many portfolios experienced a shaky drawdown for small caps which I went a little too heavy in. Thank you, my new fav channel I been telling my peeps about u guys please keep up the wholesome gift of your service ❤

[PE-TX]

Great episode! Also just got your book Richer, Wiser, Happier and finished the chapter on Sir John Templeton and it was wonderful! Thanks for bringing us all this investing wisdom.

[value_investing]

Hi William, very much appreciated your talk and also enjoyed your newest book: Richer, wiser, happier! I see what's your comments about the individual temperament related with investment. I couldn't agree with you more. However, just as you said, even the people with lots emotions also could be the master of stock investment, like Joe Greenblatt. I don't know if you read the book thinking fast and slow. The information I got from that book is that if we keep practicing, we could control your emotions and bias, and make right decision. I remembered that how I was so panicked when one of my stock dip 50% in one day when I started to invest. And now I am much better (even my stomach still hurts a lot). Thanks again for your talk, really enjoyed it.

[chanduprajan]

Outstanding podcast. So insightful and helpful indeed. Thank you so much.

[Brandon.T]

Great episode!! Your thoughts and insights are greatly appreciated.

[chriscampbell]

Great episode! Thank you so much William

[airking]

Phenomenal destillation of usefull thinking! Great format, Wiiliam!