1159: Why I Can't Pick Winning Stocks, And You Can't Either AND The Monk and the Minister by JL Collins on Index Funds

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 12 May 2020

⏱️ 8 minutes

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Summary

2 shorter posts from JL Collins of JLCollinsNH on why he can't pick winning stocks and you can't either & the monk and the minister. Episode 1159: Why I Can't Pick Winning Stocks, And You Can't Either AND The Monk and the Minister by JL Collins on Index Funds Mr. Collins is a senior executive with extensive P&L experience and a proven track record of growing revenue and profitability, integrating acquisitions, launching new products, developing and implementing business plans, creating powerful marketing strategies, building strong customer relationships and building effective teams. He is experienced in a broad range of markets including technology, automotive, investments, design engineering, electronics manufacturing, construction, horticulture and energy. Mr. Collins is also an accomplished consultant, author and speaker. He is retired, but continues to write on his blog. The original posts are located here: https://jlcollinsnh.com/2011/06/02/why-i-cant-pick-winning-stocks-and-you-cant-either/ & https://jlcollinsnh.com/2011/06/02/the-monk-and-the-minister/ Visit Me Online at OLDPodcast.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, episode 1159, why I can't pick winning stocks and you can't either.
0:07.0	And The Monk and the Minister, both by J.L. Collins of J.L. Collins N.
0:12.9	And I'm Dan.
0:14.6	I am here every single day reading to you from the best personal finance blogs on the web.
0:19.9	And today we've got two articles from J.L. Collins, a longtime author on our show, so let's get
0:25.2	right to it and hear those two posts from J.L. as we start optimizing your life.
0:30.8	Why I can't pick winning stocks and you can't either by J.L. Collins of J.L.N.
0:40.0	N.com. Don't feel bad. Most pros can't either.
0:45.0	Indexing versus active management is always a fascinating debate,
0:49.0	at least for us stock geeks with nothing better to do.
0:52.0	Over the decades, I've been on both sides of it at various
0:54.4	times. For a very long time I laughed at the indexers. I made all of the arguments and then some.
1:00.7	After all if you just avoided the obvious, you do better than average, right?
1:05.0	Who would be stupid enough to own GM a couple of years ago or Ford?
1:09.0	Oops, better forget about Ford.
1:11.0	Hindsight is a beautiful and perfect thing.
1:14.2	Convinced I could win this game, after all I'd just bought a stock that tripled.
1:18.8	I even took a major pay cut to join an investment research firm mid-career.
1:23.6	There I was surrounded by exceedingly bright people, each focused on one, maybe two industries
1:29.2	and perhaps six to ten stocks.
1:31.6	More than one had been honored in the trade press as analyst of the year for their work.
1:35.4	They knew each of these companies inside and out. They knew the top executives. They knew the middle
	...

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