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Motley Fool Answers

The 6 Habits of a Rule Breaker Investor

Motley Fool Answers

The Motley Fool

Taxes, Saving, Money, Investing, Planning, Retirement, Personalfinance, Finance, Education, Business

4.4823 Ratings

🗓️ 11 May 2021

⏱️ 32 minutes

🧾️ Download transcript

Summary

The Motley Fool Co-Founder and Chief Rule Breaker, David Gardner, is back to share his 6 Habits of a Rule Breaker Investor and Bro reconsiders retiring after age 67 (wait, what?!).

Transcript

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0:00.0

This is Motley Fool Answers. I'm Alison Southwick and I'm joined as always by Robert

0:08.1

Fully vaccinated BroCamp, personal finance expert here at the Motley Fool. Hi, bro. How you doing?

0:14.2

Vaccinated and it feels so good. Yeah, I'm feeling good. How are you, Alison?

0:18.6

I can't believe you just did that. Well, David Gardner is back, you lucky ducks.

0:25.6

Last week, we talked about David's six traits of a rulebreaker stock. And this week, he'll cover his six habits of a rulebreaker investor.

0:33.1

All that and more on this week's episode of Motleyful Answers.

0:37.8

So, bro, what's up?

0:39.6

Well, Allison, we often talk on the show about the power of delaying retirement even by

0:44.3

just a few years. And I've mentioned that I don't have any plans to retire early.

0:48.2

I think the age that I generally have in mind is 67, which like all people born in 1960 or later, is my full retirement age for Social

0:56.1

Security. Of course, you can take it earlier, but then you have a smaller benefit for the

0:59.4

rest of your life. So I kind of think of 67 as the earliest age. I'd like to retire. For me,

1:04.4

that's 16 years from now. But then sometimes I come across items in the news that make me

1:09.7

wonder if I should reconsider.

1:11.1

And that happened last week when it was announced that David Swenson had passed away at the age of 67.

1:16.6

Swenson was the manager of Yale's endowment and really the most influential endowment manager of our times.

1:21.6

Over his 35 years of running Yale's investment office, He produced returns that outperform the average

1:27.6

endowment by 3.4% annually. And many of his former employees went on to manage other portfolios.

1:34.2

Just consider that of the top, 15 endowments based on performance over the past 10 years,

1:41.6

six are managed by people who once worked for Swenson. In just two days before he passed away from cancer, he taught the semester's last session of a class at Yale that he had been co-teaching for more than 20 years.

1:52.0

And then when I heard of Swenson's passing, I thought of Clay Christensen, who was the Harvard Business School professor and author of the classic book, The Innovators Dilemma,

2:01.3

who died in January of 2020 at the age of 67. It was that same month that the world lost

...

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