How to Invest in a Volatile Market, with JD Stein

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 18 May 2023

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

#441: It’s GRADUATION WEEK! For those of you who’ve been following along this past year, you know that I’ve been completing the Knight - Bagehot Fellowship at Columbia University. This week, my family and I are celebrating the countless hours of studying, all-nighters and eye opening experiences, so here at Afford Anything, we’re airing an important episode from our archives. This episode addresses important questions we’ve been getting from the Afford Anything community, including: Where do I invest? How do I diversify outside of the stock market? How many individual stocks should I hold? I’m looking forward to returning to the amazing Afford Anything community full-time as of June 1st, and eagerly anticipating sharing everything I’ve learned with YOU!!!! The team has big plans for the next year, so enjoy this episode and stay tuned for future announcements. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	So imagine that you manage $33 billion.
0:04.0	What would you say to your friend, your neighbor,
0:08.0	somebody like you or me about investing?
0:11.0	We're going to find out the answer to that in today's interview.
0:15.0	Welcome to the Affordable Care Foundation.
0:17.0	The show that knows you can afford anything but not everything
0:20.0	that every choice you make carries a trade-off.
0:23.0	And that means that when you invest, your investment decisions carry these huge trade-offs,
0:28.0	and every dollar that you're spending on individual stocks is a dollar that you're not spending on index funds.
0:33.0	And even inside of index funds, a dollar that you're spending on some type of an asset class like a large cap, large company.
0:41.0	That's a dollar that you're not spending on emerging markets and vice versa.
0:46.0	So where should you focus your money?
0:49.0	What choices do you make?
0:51.0	Today we're going to hear some answers to those questions about how to invest,
0:57.0	how to deal with volatility, how to deal with overwhelm when you have too many options.
1:03.0	How much you should diversify, how much you should optimize.
1:06.0	We're going to hear the answers to those questions and more from JD Stein,
1:11.0	the former chief investment strategist at Fund Evaluation Group,
1:15.0	an investment advisory firm that managed $33 billion.
1:20.0	His job as chief investment strategist was to develop the group's investment philosophy and investment process.
1:26.0	So what is his investment philosophy?
1:29.0	What kind of margin of safety does he hold?
	...

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