RWH004: Intelligent Investing w/ Jason Zweig

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 12 April 2022

⏱️ 127 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN:

00:02:27 - What Jason Zweig learned from his father, the wisest person he’s ever known.
00:20:31 - Why investors shouldn’t trust what brokers and financial advisers are selling them.
00:36:34 - How success is shaped by weird moments of random chance as well as skill.
00:38:54 - What Warren Buffett said when Jason asked him, “Do you think you’re a genius?”
00:59:41 - Why Benjamin Graham was obsessed with the overwhelming importance of survival.
01:15:13 - Why investors need rules, policies, and procedures to drive their decision-making.
01:25:59 - Why investing is, above all, a head game in which the secret of success is self-control.
01:28:57 - What Jason learned while working with Nobel Prize-winning genius Daniel Kahneman.
01:37:26 - Why investors should be optimistic, humble, and intensely wary of overconfidence.
01:43:18 - How Jason thinks about the perils and promise of disruptive technologies like Bitcoin.
01:52:49 - How money can (and cannot) buy you happiness.
01:57:58 - Why he’s inspired by the simple motto “I did the best I could.”

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES:

Benjamin Graham’s The Intelligent Investor, revised and updated by Jason Zweig.
Jason Zweig’s book on neuroeconomics, Your Money and Your Brain.
Jason Zweig’s satirical survival guide to Wall Street, The Devil’s Financial Dictionary.
Jason Zweig’s website.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book
William Green interviews Joel Greenblatt on RWH003: How to Win The Investing Game.
William Green interviews Howard Marks on RWH002: Investing Wisely In An Uncertain World.
William Green interviews Tony Robbins on RWH001: The Life Force Revolution.
William Green interviews Ray Dalio on WSB410: The Changing World Order.
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Transcript

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0:00.0	You're listening to TIP.
0:03.6	Hi there, my guest today is Jason's wife, who's probably the most
0:06.6	eminent financial writer in America.
0:09.1	As I'm sure you know, Jason writes the Intelligent Investor column in the Wall Street Journal.
0:13.6	Since he started writing this column back in 2008, he's done an incredible job of guiding
0:18.4	readers' weekend and week out to make smarter investment decisions and to protect them from
0:23.6	all sorts of dumb and costly financial mistakes.
0:27.3	Jason also edited and updated the revised edition of Ben Graham's masterpiece The Intelligent
0:32.0	Investor, which Warren Buffett has described as, by far the best book about investing ever
0:36.6	written.
0:37.6	Jason's also the author of The Devil's Financial Dictionary, which is a very amusing,
0:41.5	satirical book that skewers what he calls the fads and fakery of Wall Street.
0:46.5	He also wrote a classic book called Your Money in Your Brain, which draws on neuroscience
0:50.9	to explain how you can improve your financial decision making.
0:54.8	In this conversation, we talk about Jason's belief that the real secret to investment
0:59.1	success is actually to gain control over yourself.
1:02.6	We discuss cryptocurrencies like Bitcoin, and what he thinks about investing in disruptive
1:07.5	technologies in general.
1:09.4	We talk about what he's learned from interviewing Warren Buffett.
1:12.6	We discuss Jason's fascinating experience of collaborating on a book with the Nobel Prize-winning
1:17.0	economist and psychologist Daniel Conneman, and we talk about the science of happiness.
1:22.8	As you'll hear, Jason's a wonderful storyteller, and he's full of wise and practical advice
	...

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