Michael Lewis on Crypto, NFTs, and How to Spot Real Experts
Motley Fool Money
The Motley Fool
4.4 • 3K Ratings
🗓️ 20 May 2022
⏱️ 39 minutes
🧾️ Download transcript
Summary
S&P 500 and Nasdaq had their 7th straight negative week and investors (including us) are feeling the pain. (0:30) Ron Gross and Jason Moser discuss:
- How history shows staying invested through downturns pays off in the long run
- Major retailers struggling with inventory
- Signs of strength in the home improvement industry
- Two stocks on their radar: Costco and Marqueta
(14:20) Best-selling author Michael Lewis shares insights from the latest season of his podcast, Against The Rules, and discusses:
- Why he chose "expertise" as the theme for this season's episodes
- How you can spot a real expert
- What CEOs can learn from their employees who are six levels down
- His thoughts on cryptocurrency and NFTs
- The experience of going back to re-read his first book, Liar's Poker
Our Investing Starter Kit includes 15 stocks and 5 ETFs.
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Stocks discussed: WMT, TGT, HD, LOW, COST, MQ
Host: Chris Hill
Guests: Jason Moser, Ron Gross, Michael Lewis
Engineers: Dan Boyd, Austin Morgan
Transcript
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| 0:00.0 | Mike Lewis is the best nonfiction writer in America and he's here on this show. |
| 0:11.0 | Motley Fool Money starts now. |
| 0:18.9 | Everybody needs money. That's why they call it money. |
| 0:38.8 | From Fool Global Headquarters, this is Motley Fool Money. |
| 0:42.1 | It's Motley Fool Money Radio Show. I'm Chris Ellin. I'm joined by Motley Fool, |
| 0:45.0 | Senior Analyst Jason Moser and Ron Gross. Good to see you as always, gentlemen. |
| 0:49.2 | Hey, you, Chris. We got the latest headlines from Wall Street, best selling author, Michael |
| 0:53.7 | Lewis is our guest and as always we got a couple of stocks on our radar. But we begin |
| 0:58.1 | with more red in the markets. This marked the seventh week in a row that both the S&P 500 |
| 1:04.6 | and the Nasdaq fell and the eighth straight week of the Dow falling and Ron like every |
| 1:10.9 | investor who's hanging in there, we are feeling this pain. |
| 1:15.1 | Boy, oh boy. Tough times, Chris. S&P down 20% now from its high, Nasdaq down 30% from |
| 1:23.7 | its high, trying times for sure. You know, there are days when the market is strong and I say |
| 1:29.5 | to myself, okay, we're coming out of this and then the market plummet's 4% the next |
| 1:35.1 | day. It almost invariably happens. Those are really those whiplash days, what I call |
| 1:39.8 | them. Those are what really get to me because they kind of toy with your emotions where you |
| 1:43.5 | think things are getting better and then they're not and then you think and then they're |
| 1:46.7 | not. So you kind of have to maybe pull yourself away from the day to day action, I think, |
| 1:52.2 | to alleviate some of that. In this environment, investors are trying to figure out where valuations |
| 1:58.0 | should be. But because of the macro environment we're in, it's really tough to do. So what |
| 2:03.9 | do you do? I personally, I've been buying consistently, not just stocks, but broad based |
| 2:09.1 | ETFs also. I try not to look at my accounts too often and I also recommend others do the |
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