'Most Investors Make This Mistake' - A Masterclass On Building Wealth, Wisdom & Success | Guy Spier

[LorenzoKlerks]

00:00 - Introduction
02:25 - Ergodicity
21:30 - Ergodic bet example Nestlé
23:30 - Survival vs. outperformance
29:01 - What I learned from Darwin about investing
33:40 - Living in Zurich
39:00 - Learning from small moves
45:05 - Be aware of your inner voice
50:37 - How to deal with anxiety and other emotions
58:54 - The Guest House, Poem by Rumi
1:00:42 - Balancing Ego, Humility and Delayed Gratification
1:09:38 - Taking action shapes your soul
1:12:19 - Overcomplicating life
1:15:47 - Lottery tickets vs Ability
1:18:52 - Case Method at Harvard Business School
1:21:48 - The Trap of Desire
1:26:48 - Having more financial wealth is not going to make me happier
1:33:33 - What would you do with $1 million as a starting investor?
1:38:21 - Wehere to look to 7x your money
1:42:16 - Closing thoughts: Survival is everything

Number of swear words: 10

[Raniyanhunter]

As an investment enthusiast, I often wonder how top-level investors are able to become millionaires through investing. I have a significant amount of capital to start with, but I'm unsure about the strategies and direction I should take to help me generate substantial profits like some people are this season.

[jeromesand]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.

[NoahNollens]

The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.

[tahirisaid]

I believe the wisest decision that should be on every individual list is to invest in a different stream of income and don't depend on the government to bring you money. It's always better to work smart and not hard

[micheal_mills]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[MatthewAidanns]

Investments are the roots of financial security; the deeper they grow, the stronger your future will be."

[JoshuaKerr-mu]

My portfolio has always been self-managed for the past 30 years, and I own 3 shares of Berkshire Hathaway Class A stock (BRK:A), which I purchased for about $17, 000 in the mid-1990s. I'm currently liquidating some of these positions to make room for new generation stocks, but would I be better off reinvesting in gold as stocks appear to be a little too volatile right now.

[dianarabbanii]

It's a common misconception that when a stock you buy skyrockets, the smart thing to do is sell it (or at least sell some of it) to lock in your profits. But the context matters. If the stock has increased sharply because the business is performing exceptionally well, it could still be a bargain. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas...

[leondonald]

Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as the EV sector, renewable energy, Tech, and Health. Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE

[Danpron]

I feel investors should focus on under-the-radar stocks, considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered... I don't know where to go here out of devastation.

[victoriaabott]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[elviegoodness]

My life changed too when I started doing this and putting money in stocks. The first few years it as really great, but this year I haven't felt like my portfolio is doing well. I have lost more than $40, 000 from my portfolio the past four months, and it's now very worrisome.

[MHousley]

Great advice here. Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I currently have 75% SCHD and 25% ROTH IRA. Brokerage account is 40% VOO, 35% SCHD, 25% XLK. Combine balance ~$1.3m Less than 3 years until retirement.... I have about 100k in cash

[juliasalley]

I hope it doesn't go very bad. So then do you think it's best for us who are not institutional investors to focus on index funds or individual stocks? I want to redistribute my 60k portfolio and I preferably want the asset class with the best return on investment.

[Money-ctxv]

I always come to investment podcasts to learn about investing to then keep on listening for life guidance. This is so appreciated, thank you both.

[ThomasColt]

Not diversifying portfolios is the biggest mistake, as putting all your eggs in one basket exposes you to concentration risk, market volatility, and lack of growth opportunities, potentially leading to catastrophic losses.

[DavidLucas-sorr]

There are many differing viewpoints regarding equities and their projections for the next years; I strive for short-term substantial returns from market corrections, and I'd surely get on the boat if I knew anything about day-trading. I'm just searching for the appropriate moves to increase and protect my $490k reserve from inflation.

[ruiazevedo]

I have always one thing on my mind that is Mark Twain's quote "It's not what we don't know that gets us in trouble. It's what we know for sure that just ain't so." The concept of expected return of an asset only works if we talk about the whole stock market itself - index. No one can say what is the future expected market return for any particular stock. The first rule of investing is to never lose money. Risk should not be defined statiscally as standard deviation from expected returns but as risk of an asset be impaired forever.

[markopolo]

Dear Mr. Spier, thank you for sharing! I like spending my time listening to your calm approach to life!