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Motley Fool Hidden Gems Investing

Making Cash vs Preserving Money

Motley Fool Hidden Gems Investing

The Motley Fool

Investing, Business

4.33.1K Ratings

🗓️ 14 May 2023

⏱️ 26 minutes

🧾️ Download transcript

Summary

If you like to tinker with your investments, then it’s tough to beat the market over a long period of time. John M. Jennings is the president of St. Louis Trust & Family Office, a Professor at Washington University’s Olin Business School, and the author of “The Uncertainty Solution: How to Invest with Confidence in the Face of the Unknown.” Deidre Woollard caught up with Jennings to discuss: - Why the improbable happens all the time - 1 key attribute that some of the best-performing stocks have in common - And the business advantage that “fast followers” have over pioneers    Companies mentioned: SCHW, TJX, APPL, HUM, SHW Host: Deidre Woollard Guest: John M. Jennings Producer: Ricky Mulvey Engineers: Dan Boyd, Heather Horton Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

I think that's a goal for a lot of people.

0:02.9

They'd love to vault into the tens of millions or hundreds of millions of dollars of wealth.

0:09.0

What we've observed and I've done some research on this as well is really to get that much

0:13.2

money, you're not going to get there typically by just having a little bit of money, 10 grand

0:20.8

or 50 grand and investing it in the stock market.

0:24.8

The way people get that much money, you know, within a few decades of a career is with almost

0:32.1

no exception.

0:33.7

They are owners of a business.

0:38.4

I'm Mary Long and that's John M. Jennings, president of a wealth management firm that specializes

0:43.8

in serving high net worth individuals.

0:46.7

He's also the author of the new book, The Uncertainty Solution, How to Invest with Confidence

0:51.1

in the Face of the Unknown.

0:53.2

Earlier this month, the Dearser Woolard caught up with Jennings to discuss why one and a

0:56.8

million happens more often than you may think and the difficulty of investing in trends.

1:02.5

Quick note, this conversation was recorded on Friday, May 5th.

1:07.0

I love this book because you talk about uncertainty in this way that I think is really important

1:16.0

for people to understand and just to start off with one of the, you give mental models

1:20.6

throughout the book, which is really helpful.

1:22.9

You talk about accepting that the highly improbable happens all the time.

1:27.6

I don't think most of us think of the improbable as happening every day, but if we accept that,

1:33.0

how do you prepare your portfolio and really yourself to handle that?

1:37.2

Well, I'll tell you, it makes life maybe a little less fun because sometimes when we get

...

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