Your feelings about future returns are not expected returns!

Don't let your feelings guide your investment decisions.

Subjective return expectations tend to negatively correlate with model-based expected returns.

Both are predictive of realized returns, but in opposite directions.
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[michaelhoward]

love that Ben has started to do YouTube shorts

[theuselessmember]

YouTube shorts are wild. One vid is simp bait, the other is bigoted race bait, and the final is Ben Felix talking about a published financial paper. What a time to be alive.

[hycide_]

We need more people like Ben in the world.

[aaronward]

as someone with a surface level understanding of finance, coming from a data science background it's refreshing that Ben gives data driven answers rather than the hopium that most finance youtubers try to sell you

[pistopit]

Shorts are a perfect form of explaining dense and dificult subjects. It loops too, so even if you did not understand at first you can listen to it again and again. Thank you for the amazing content Ben.

[doneflounder]

Your videos completely changed my way to invest

[egal]

To be honest, yes this isn't the best video when it comes to application, but the easy to understand nature of you making these academical papers is wonderful. I'll be honest, without this information I'd have never really understood that the characteristics of companies that seemed most optimal to me are already priced. I mean to me low valuations, quality and Profitability already seemed logical. But understanding that this was already known in academia makes me believe that one could potentially hope to create a finance company just based on the most up to date information (i.e. academic papers), though it seems like even current ones are already enough....
Thanks for bringing us this knowledge for free, it's wonderdul to see someone taking the time without being like "here's my XYZ course", and also not doing this based on direct monetary incentives.

[Omar-etsb]

Ben - I love these, but I hope that doesn't mean less full CSI videos. I have watched every single one multiple times and come back to so many of them all the time for refreshers!

[stonksdays]

That's why I like you Ben, you present pure empirical evidence. But for this video, it's the same relationship as fear and greed the contrarian view is sometimes better. That's why I'm loading up on the value factor too only a matter of time before it outperforms again. Most people need to stop being chart technicians and start being financial scientists

[pabloaguilar]

Hey Ben, love your videos and I’m so happy you’re producing shorts, I hope I’m not overstepping but I think you should upload the shorts with speed of 1.25x, I think it would serve the theme of conveying info in a short format.

[ariavachier-lagravech.]

Felix
Do you prefer ROE or RNOA to measure company performance?
Also which one do you think is more representative of companies earnings EBITDA or operating income?

[armitageshanks]

Question - given that 'expected returns' seem to be this independent objective concept from what investors actually (subjectively) think, then what IS it? When the market is applying a discount rate to future cash flows, ain't it all investors themselves who convene to apply that discount rate? Why would this objective measure differ from the subjective measure?

[matteomontanari]

Hi Ben, huge fan from Italy. There is too much text in those short, choose between subtitles and comments on the screen

[rockybukus]

Can someone please translate into French for me to understand, please? @Ben Felix: what is your view on TSLA? Thanks.

[DekarNL]

So how can an active fund manager use this to earn some alpha for his investors?

[cat-.-]

I love you videos but they need to be a bit louder

[jmc]

Some YT investing content can skew views too from very neg to pos. PWL related videos are minority. Always DYOR from mult credible sources.