4.6 • 2.8K Ratings
🗓️ 31 August 2018
⏱️ 37 minutes
🧾️ Download transcript
If you were just going off what you hear from friends and family members at social gatherings, you might think everyone hits it big when they trade stocks. People are eager to tell you when their risky investments make money, but they are less forthcoming about all the busts.
Trying to time the market to get that “big win” is a risky endeavor. Ben Carlson from A Wealth of Common Sense wrote an awesome post back in 2014 that introduced us to Bob, "The World's Worst Market Timer." Join us for this week’s episode of The Money Guy Show, as we unpack the cautionary tale represented by Bob, “The World’s Worst Market Timer” and highlight where Bob goes wrong and what his potential outcomes could have been if he did things differently.
For more details, please visit the show notes on our website:
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0:00.0 | Market timing. Wouldn't it be great if there was a case study of the worst investor in history? |
0:06.6 | And what if we had a superpower that will help you make it through all market volatility? |
0:11.8 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, |
0:18.7 | investing, taxing. You've got financial questions, he's got financial answers. It's Brian Preston, |
0:25.8 | the money guy. So Brian, my favorite part about these shows is always when you say, |
0:29.4 | hey, guys, give me a really good idea for the intro. We give you an idea. |
0:33.1 | And your intro is absolutely nothing like that. But you still did fantastic with it. |
0:37.9 | Well, I felt, because we're going to introduce the concept of what we're talking about today. |
0:42.1 | But so we're going to really, you know, show what Ben wrote his post about. |
0:47.1 | Sure. So I kind of wanted to make sure we still covered what we were going over. By the way, |
0:51.4 | this is Bo's birthday. Did I say it the right way or did I say it Southern way? |
0:56.2 | Does it birthday or does it say birthday? You said birthday. |
0:59.3 | Okay, good. I have to watch that. The Southern enemy comes out really heavy on the word birthday. |
1:04.0 | So if you all didn't know Bo turned 21 today. That's right. |
1:07.7 | Finally, Brian. It's funny. Is that joke? We've got an old enough that it actually is worth |
1:11.8 | while now. But here's what we're going to be covering today is that if you ever gone to the |
1:16.2 | cocktail party where the brother-in-law or some coworker cannot wait to run up to you and |
1:24.3 | just brag about how much money they're making out there with their high-flying stock pick or some |
1:31.2 | stock option trade they've made. Can't wait to how early they got in on that one stock. |
1:36.6 | The thing I've always noticed about these people when they want to brag about their trades is |
1:40.8 | they never tell you about their losers. So what we want to talk about is there was a great |
1:47.6 | piece written back in 2014 by Ben Carlson from a wealth of common sense. Ben wrote this piece |
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