In this second hour of the podcast, Joe Anderson and Senior Financial Planner, David Cook discuss risk and recency bias. Find out how to properly diversify your portfolio and be aware of the ever-changing nature of the market.
4:36 “If you can’t explain the fee structure back to me, then you really shouldn’t own it”
8:34 “You want to make sure that you start with a plan that encompasses everything that you’re trying to accomplish and all the different avenues that can come your way”
17:21 “That’s the problem with individual investors; we are very emotional when it comes to our money. We are twice as fearful to lose money as we are to gain money; the ones who are betting the most are the ones who are down the most”
21:16 “The pricing of stocks is the intrinsic value of future cash flows in the future, so it’s always forward-looking”
23:43 “If you’re willing to take that volatility, then you should anticipate a lot higher rate of return than another investment that has very little volatility”
27:53 “You have to have a strategy in place, knowing that if the market does turn, if tax rates do go up, if inflation goes up, you’re going to be okay”
36:14 “You don’t want to forget about international stocks, emerging markets, small companies, value companies, real estate and the like, because whatever happened last year is not necessarily going to happen this year”
36:49 “That’s the only free lunch in Wall Street; diversification: have a little bit in a lot of different places because no one knows what’s going to happen in the market”
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