Nick Murray: ‘The Investor Is Hardwired to Be His Own Worst Enemy’

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5 • 775 Ratings

🗓️ 12 August 2025

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

The advisor to advisors discusses setting plans, dismisses algorithms over humans, and showcases the highest value service that advisors provide.

Transcript

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0:00.0	In volatile markets, the H.C.M. Byline keeps you grounded. Invest with confidence. Discover Howard Capital Management's funds at HowardCMFunds.com. Stay tactical, not traditional.
0:15.2	Investments in HCM funds involve risk, including possible loss of principle. There is no assurance that the funds will achieve their investment objectives. Investors should carefully consider the investment objectives,
0:24.0	risks, charges, and expenses of the HCM funds. This and other important information about the funds
0:28.4	are contained in the prospectus, which can be obtained at www.howardcmfunds.com or by calling
0:33.5	77062-4-969-8464.
0:39.3	The prospectus should be read carefully before investing.
0:41.6	H-CM funds are distributed by Northern Lights Distributors, LLC.
0:44.8	Member Finra, SIPC.
0:46.6	Northern Lights Distributors, LLC, and Howard Capital Management, Inc. are not affiliated.
0:50.3	Please stay tuned for important disclosure information at the conclusion of this episode.
0:56.3	Hi, and welcome to the Longview. I'm Christine Ben's Director of Personal Finance and Retirement Planning for Morningstar.
1:02.7	And I'm Amy Arnott, portfolio strategist for Morningstar. Our guest on the podcast today is Nick Murray.
1:09.7	Nick has written several influential books about investing in financial advice,
1:13.6	including The Game of Numbers, Simple Wealth, Inevitable Wealth, and his latest, This Time,
1:19.6	Isn't Different.
1:20.6	His newsletter for Financial Advisors is called Nick Murray Interactive, and he also frequently
1:26.6	leads seminars for financial advice professionals.
1:29.8	Nick started out at E.F. Hutton, then moved on to Shearson and eventually to Bear Stearns.
1:35.3	Since then, he has built his career around advising financial advisors. Nick, welcome to the Longview.
1:42.4	Thank you so much, Christine.
1:46.4	Thanks for thinking of me in this context.
1:48.6	We're really thrilled to have you here.
	...

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