'The Wise-Man Problem' – Low-Hanging Fruit Individual Investors Overlook

Stansberry Investor Hour

Stansberry Research

America, How, To, Crash, Money, Learn, Stansberry, Income, Research, Debt, Stocks, Porter, Business, Realestate, Banking, Investment, American, Investing, Invest, Howtosave, Sjuggerud, Ferris, Eifrig, Jubilee, Buck, Sexton, Market, Bonds, Churchouse, Savings, Options, Lashmet

4.4 • 677 Ratings

🗓️ 5 July 2023

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week's Stansberry Investor Hour, Dan and Corey are joined by equity analyst John Zolidis. He's the president and founder of Quo Vadis Capital, which provides research for both professional money managers and individual investors, specifically in the retail and restaurant sectors.

Dan and Corey kick off the podcast by discussing what they're bullish on – what they like, what they want to buy, and what they're buying. Corey expresses optimism in U.S. stocks, citing their recovery and global financial leadership as "the best house in a bad neighborhood." Dan shares his optimism for the housing sector, highlighting historically low inventory levels. (00:41)

Then, John joins the conversation to share his perspective on the possibility of beating the market and overcoming cognitive biases in investing. He brings up "the wise-man problem," referring to the cognitive bias that arises from an individual's belief that they have seen and understood all market situations based on past experiences. (19:41)

John challenges the belief that outperforming the market is impossible, citing the importance of understanding companies and long-term prospects. John emphasizes the need to align investments with financial goals and avoid short-term performance targets influenced by media hype. He believes a longer-term perspective is the key to gaining an edge as an individual investor. (39:23)

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Transcript

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0:00.0	Hello and welcome to the Stansberry Investor Hour. I'm Dan Paris. I'm the editor of Extreme Value and the Ferris Report, both published by Stansberry Research.
0:09.0	And I'm Corey McLaughlin, editor of the Stansberry Daily Digest. Today we talk with John Zolitis of Covadas Capital.
0:18.0	And today, Corey and I will talk about stuff we don't normally talk about,
0:23.1	and we're not allowed to talk about the stuff we always talk about today. And if you want to
0:28.5	get in touch with us, remember send your notes to Feedback at InvestorHour.com and tell us what's
0:34.4	on your mind. That and more right now on the Stansberry Investor Hour.
0:41.1	All right, so these are the rules. No talking about the stuff we always talk about. Fed,
0:47.5	inflation, interest rates. I mean, if you got to work it in there, put it in there and get off of it quick.
0:54.1	All right. All right. I accept. Somebody put you got to work it in there, put it in there and get off of it quick. All right. All right.
0:55.6	I accept. Somebody put you up to this or what's going on? No, I'll tell you why, though.
1:01.5	I had, I submitted a digest for publication. And they were saying, we're publishing something
1:07.6	else that says the exact opposite. and maybe this time we'll publish his
1:11.7	thing instead of yours and i was like you know it's perfectly reasonable we make these decisions
1:16.6	like all the time because it just it looks stupid you look stupid for publishing the exact opposite thing
1:22.4	five minutes apart it's just you know human nature so well, you know, they've got a point here.
1:30.3	I'm always talking about the same stuff and I'm getting tired of myself.
1:34.8	I got tired of myself in that moment.
1:36.8	And it's one of the things I'm grateful for.
1:39.3	When you write for a living, as you well know, because you write 10 times more than I do,
1:43.8	you need editing
1:45.6	and you need feedback before you're published. And, you know, it's just one of the ways that
1:51.7	this gig has just been great for me. So I thought, it got me thinking, well, yeah, okay,
	...

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