BREAKDOWN: 10 Popular Investing Beliefs We Should Be Questioning
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 1 October 2020
⏱️ 18 minutes
🧾️ Download transcript
Summary
NLW recaps a viral twitter thread asking people which financial conventional wisdom they disagree with.
This episode is sponsored by Crypto.com, Nexo.io and Elliptic.co.
When popular finance writer Morgan Housel asked followers on Twitter to share the commonly held investing beliefs they most disagreed with, the internet responded with vigor.
A thousand or so replies later, NLW ranks the top 10 investing ideas we should be questioning, including:
- Ignoring compounding interest in our 20s
- Buying homes rather than renting
- The idea US Treasury bonds are risk-free
Listen to hear the full list.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:08.2 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:14.0 | The breakdown is sponsored by crypto.com, nexo.io, an elliptic, and produced and distributed by CoinDesk. |
| 0:23.2 | What's going on, guys? It is Thursday, October 1st. Welcome to the absolute best part of the year. |
| 0:29.9 | I am so excited to be kicking off this month with a fun little episode about 10 popular |
| 0:35.6 | investing beliefs that we should all be questioning. |
| 0:39.5 | Now, there's no brief today, even though right as I was about to record, I saw some late |
| 0:43.7 | breaking news that the CFTC was going after BitMex, and there's a lot of stuff that we could |
| 0:48.6 | talk about, but I wanted to kick off this month with a fun, high-level show that was inspired |
| 0:54.0 | by a tweet from |
| 0:55.5 | Morgan Houssel of the Collab Fund. |
| 0:58.6 | Morgan became known for his incredible essays about money and business and actually recently |
| 1:03.4 | released a book called The Psychology of Money. |
| 1:06.9 | He tweeted out yesterday, what's a popular investing belief you disagree with and has had almost |
| 1:12.8 | a thousand responses? |
| 1:14.9 | If there is one thing near and dear to Bitcoiners' hearts, it's the idea of questioning |
| 1:20.3 | conventional wisdom. |
| 1:22.4 | So with that, let's go through the top 10 answers that I saw with maybe a couple that I didn't about |
| 1:28.7 | popular investing beliefs that we shouldn't necessarily take as they're given to us. |
| 1:34.7 | I'm going to start with a number of personal finance ideas that came up in this thread, |
| 1:39.8 | and the first number 10 is the idea that home purchases are a good investment. |
| 1:45.7 | This one came from Gerald Villani, and remember, the prompt was, what's a popular investing |
... |
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