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Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge skills,

insight and encouragement you need to live a rich and meaningful life now,

while building a plan for financial freedom in 10 years or less.

My name is Joshua and today we're going to talk about the power of beta, the power of beta.

Let me quickly clarify what I mean.

Put very simply, if you can observe some large scale macro trends

and then align yourself perhaps your career,

perhaps your investments and your assets in line with those trends

that I'm convinced that you can win even if you don't happen to be the smartest person in the room.

You just simply need to observe and align yourself with some trends

and then get some big picture decisions right.

Now let's first begin with a discussion of alpha and beta.

I'm going to use these terms in a way that they don't specifically mean,

but I'm drawing inspiration from what they mean in the marketplace of stock research and stock investing.

Usually, when you talk about investing, the term beta is a measure of volatility of a particular investment,

the ups and downs, the volatility of an investment relative to a benchmark.

...