WCI #450: When You Win the Game, Stop Playing with Bill Bernstein
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 18 December 2025
⏱️ 58 minutes
🧾️ Download transcript
Summary
Today we're thrilled to welcome back our friend and financial expert Bill Bernstein for a thoughtful conversation about what it really means to "stop playing when you win the game." We dig into the idea of "enough," how to know when you've reached it, and what changes—financially and emotionally—once you have. This episode offers a candid look at life after reaching your goals and how to invest, plan, and live with greater intention once the game is won.
Today's episode is brought to us by SoFi, the folks who help you get your money right. Paying off student debt quickly and getting your finances back on track isn't easy, but that's where SoFi can help — they have exclusive, low rates designed to help medical residents refinance student loans—and that could end up saving you thousands of dollars, helping you get out of student debt sooner. SoFi also offers the ability to lower your payments to just $100 a month* while you're still in residency. And if you're already out of residency, SoFi's got you covered there too.
For more information, go to https://www.whitecoatinvestor.com/Sofi
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. Additional terms and conditions apply. NMLS 696891.
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00:00 WCI Podcast #450
02:52 Bill Bernstein Interview
04:20 When you Win the Game, Stop Playing
32:30 Small Value Tilting
35:32 Once You Have "Enough"
41:00 100% Equities?
Transcript
Click on a timestamp to play from that location
| 0:00.0 | This is the White Coat Investor podcast, where we help those who wear the white coat get a fair shake on Wall Street. |
| 0:06.2 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
| 0:16.0 | This is White Coat Investor podcast number 450. When you win the game, stop playing with Bill Bernstein. |
| 0:23.2 | Today's episode is brought to us by SOFI, the folks who help you get your money right. |
| 0:27.6 | Paying off student debt quickly and getting your finances back on track isn't easy. |
| 0:31.4 | That's where SOFI can help. |
| 0:33.2 | They have exclusive low rates designed to help medical residents refinance student loans. |
| 0:38.1 | That could end up saving you thousands of dollars, helping you get out of student debt sooner. |
| 0:42.5 | SoFi also offers the ability to lower your payments to just $100 a month while you're still in residency. |
| 0:47.2 | And if you're already out of residency, SoFi's got you covered there too. |
| 0:50.4 | For more information, go to sophy.com slash white code investor. |
| 0:55.7 | Sofi student loans are originated by SoFi Bank, N.A, member FDIC, additional terms and conditions apply and MLS 696-891. All right, we've got a |
| 1:03.2 | great guest today. You might know him. His name's Bill, Bill Bernstein. And I think you're really |
| 1:09.5 | going to enjoy this interview. But before we get into it, |
| 1:11.7 | there's a few things I want to make sure you know about. You've noticed the new website by now, |
| 1:16.5 | I hope. Please, if you have not been to the new website, go by the new website. Our entire staff put |
| 1:21.9 | in like more than a year's work to make this up to date and serve you better. So check it out. |
| 1:28.5 | If you're having trouble finding stuff, |
| 1:30.3 | we actually simplified the menus at the top of the website. |
| 1:33.4 | It should be even easier to find stuff than it used to be. |
| 1:36.5 | But if you don't want to go searching for the recommended list there, |
| 1:39.5 | you can just go to whitecodeinvestor.com slash recommended. |
... |
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