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Captain, an unidentified ship approaching, over.

Roger that.

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I had read this quote of all people, Charlie Munger.

Someone asked him, are you and Warren Buffett so successful

because you're so much smarter than everybody else? And classic Mungerism, he said,

we're not smarter than everybody else. We're just less stupid. Hello and welcome to the Barron Streetwise podcast.

I'm Jack Howe.

And the voice you just heard is Barry Rittholtz.

He's the chief investment officer of Rittholt's wealth management.

He's also an author.

He's talking about his new book.

It's called How Not to Invest.

We'll talk to him in a minute.

First, we'll say a few words about hedging your

downside in U.S. stocks. There are a couple of sensible ways to do that and a bunch of horrible

ones. We'll run through them. Listening in is our audio producer Alexis Moore. Hi, Lexus.

...