What sets us apart from the best investors in the world, like Sir John Templeton, Jack Bogle, Ed Thorp, and Howard Marks? What hidden talents do they have that made them millionaires or billionaires? And what lessons can we take away from their journeys that can help us become better investors too?
William Green, financial journalist and author of Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life, joins me on the podcast to share what he was able to glean from interviewing these major players in the financial industry. He also breaks down what we can learn from their successes and failures, including the fact that money isn’t everything.
Timestamps
- 00:00 Introduction
- 01:52 Guest Background
- 07:48 Lessons from Successful Investors
- 13:54 The Role of Adversity in Investment Success
- 19:58 Finding Your Edge in Investing
- 28:16 The Art of Value Investing
- 34:45 The Emotional Side of Investing
- 43:02 Learning from Mistakes in Investing
- 51:02 Investing Philosophy and Personal Risk Assessment
- 56:03 Survival Over Market Beating
- 01:03:02 Self-Awareness in Investing
- 01:09:43 The True Meaning of a Rich Life
Takeaways
- Investing requires understanding your own emotions and temperament.
- Self-awareness is crucial in determining your investment strategy.
- There are many paths to success in investing; find what works for you.
- Adversity can teach valuable lessons about resilience and strategy.
- Successful investors often diverge from the crowd and think independently.
- The essence of investing is valuing an asset and buying it for less than it’s worth.
- Investing is not easy; it requires discipline and a long-term perspective.
- Emotional intelligence plays a significant role in successful investing.
- Even the best investors make mistakes; humility is key. Investing requires a personal risk assessment.
- Wealthy investors play by different rules.
- Emotional trauma can affect financial decisions.
- Survival is more important than beating the market.
- Self-awareness is crucial for effective investing.
- Relationships contribute significantly to a rich life.
- Recognizing emotional triggers can improve decision-making.
- Therapy can help address financial-related traumas.
- Investing should align with personal values and strengths.
- Financial success is not just about money, but also about happiness.
Things I Mentioned in the Episode
- Grab a copy of William’s book Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life.
- I’m giving away copies of all the books featured in this season of the podcast! To enter, visit jessicamoorhouse.com/contests
- My free resource library, where you can find budget spreadsheets & more!
- Apply to enroll in my investing course Wealth Building Blueprint for Canadians
- Register for the next cohort of my Budgeting Together Accountability Group
- Check out my shop!
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Transcript
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