1374: [Part 2] Stocks - Part XIX: How to Think about Money by JL Collins

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Self-improvement, Education, Business

4.5 • 1.3K Ratings

🗓️ 13 December 2020

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

JL Collins of JLCollinsNH.com on how to think about stocks and money. This is part 2 of 2. Episode 1374: [Part 2] Stocks - Part XIX: How to Think about Money by JL Collins 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 post is located here: https://jlcollinsnh.com/2013/06/14/stocks-part-ixx-how-to-think-about-money/ Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and in The O.L.D. Facebook Group and Join the Ol' Family to get your Free Gifts! Interested in advertising on the show? Visit https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, episode 1374.
0:04.4	Spocks, Part 19, How to Think About Money, Part 2,
0:08.9	by J.L. Collins of J.L. Collins N.com. And I'm your host and personal finance enthusiast,
0:15.8	Diana Merriam. This is the show where I narrate posts from a wide variety of
0:20.9	personal finance blogs. We cover so much on the show from
0:24.7	saving to investing to debt reduction and more. Today we're going to be
0:29.0	hearing from one of my all-time favorite authors. J. L. Collins single-handedly got me comfortable with
0:35.4	investing through his book The Simple Path to Wealth, and it's a huge honor for me to
0:40.5	share his content with you. And yes, I am totally fan-girling right now.
0:45.2	Today's post is actually a continuation from yesterday so if you're new here I'd recommend
0:50.6	listening to yesterday's episode first.
0:53.0	But if you're all caught up, let's hear part two and continue optimizing your life.
1:01.8	Stocks Part 19 How to Think About Money, Part 2, by J.L. Collins of J.L.N.H.com.
1:10.0	Level 3 How to to think about your investments. Warren Buffett is rather famously quoted as saying,
1:18.0	Rule number 1, never lose money. Rule number 2, never forget rule number one.
1:23.0	Unfortunately too many people take this at face value
1:26.0	and then leap to the conclusion that Mr. Buffett has found a magical way to dance
1:31.0	in and out of the market, avoiding the drops. Not true. In an interview
1:36.5	linked in this post you can listen to exactly what he says about this. You
1:40.9	can't successfully dance in and out of the market. My favorite line appears at around the 1 minute 34 second mark.
1:48.0	Quote, the Dow started the last century at 66 and ended at 11,400. How could you lose money during a period like
1:58.0	that? A lot of people did because they tried to dance in and out, end quote." The truth is during the crash of 2008, 2009,
	...

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