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Rule Breaker Investing

5 Times I've Changed My Mind, Vol. 1

Rule Breaker Investing

The Motley Fool

Business, Investing, Invest, Rulebreaker, Stocks, Company, Growth, Stockmarket, Fool, Foolish

4.5928 Ratings

🗓️ 20 July 2022

⏱️ 41 minutes

🧾️ Download transcript

Summary

When the facts change, what do you do? Today we begin a new series on changing our minds. When it happens, why it happens, and how we are rewarded — in business, in investing, and in life.

Shorting (9:10)
- Is it wrong to short stocks? Is it worth the effort?
Go Tar Heels (15:03)
- What happens when the rival of your favorite team becomes your team?
Loving Choices (19:36)
- Have you confronted your own prejudices? Do you have a ______ friend?
Moneyball (28:20)
- Are you looking at the right data? Are you defying conventional wisdom? Are you winning?
Netflix (34:57)
- Are you able to recognize when Goliath has met his David?

Stocks Mentioned: NFLX
Host: David Gardner
Producer: Rick Engdahl

Transcript

Click on a timestamp to play from that location

0:00.0

When your information changes, or if someone manages to persuade you that you're wrong,

0:09.7

what do you do?

0:11.7

Maybe you've heard the classic John Maynard Keynes line, which we'll talk about this

0:16.0

week. If so, you have a good rejoinder, but more than a witty line, we're talking about the

0:21.7

benefits of changing your mind this week on

0:26.3

rule breaker investing changing your mind about a stock or an investment approach

0:32.1

switching sports teams to cheer for, or even deeper

0:36.9

changing the way you think, changing your mind about how the world works or what you think of certain people.

0:47.0

Changed your mind recently in a big way?

0:50.0

Well, most people don't that often, but we can mark ourselves, we can mark our lives often by when we did, which is worth calling out, worth reflecting on worth some splainen worth. worth, investing. It's the Rule Breaker Investing Podcast with Motley Full Co-founder David Gardner.

1:17.0

Welcome back to Rule Breaker Investing in the start of a new episodic series.

1:25.0

I've built this podcast over the seven plus years now, often on the backs of figuring out a new series,

1:32.0

like let's say great quotes or market cap game show or the mailbags themselves which are series and really I've built up a list of more than 20 different recurring episodic series and occasionally I add a new one of the

1:46.4

mix and that's exactly what we're doing this week and I'm excited about it because we're

1:50.5

talking about changing your mind so the title of this podcast is

1:54.9

five times I changed my mind volume one I let off with a reference to John Maynard Keynes.

2:03.4

Now I've always heard it this way that the British

2:06.7

economist of the 20th century once said something like this.

2:11.4

When the facts change, I change my mind. What do you do, sir? Now,

2:17.6

longtime listeners will know that my fondness for great quotes often has me scurrying over to quote investigator.com.

2:26.2

It has to be one of my 20 favorite websites and quote investigator.com does a good job tracking down

2:32.0

and seeing you know did canes in this case actually say that did

...

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