Will you own up to your investing mistakes?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 5 February 2021

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Mistakes. We all make them, but whether we will admit them freely often depends on what they are and how we made them.

Investing mistakes can be among those that are tough to swallow and own up to. Often the easiest thing is to brush them under the carpet and try not to think about it too much.

But looking at where we went wrong and learning from it is an important part of long-term investing.

On this week’s podcast Georgie Frost, Lee Boyce and Simon Lambert discuss investing blunders. Simon confesses some of his and what he thinks he’s learnt from them over the years, the team look at new research on why people give up investing and how big a part loss aversion plays in that.

And This is Money invites listeners to get in touch and reveal their investing slip-ups to feature in a future show (no names need to be mentioned, of course).

Also on this week’s show, is the Bank of England flirting with negative rates or just indulging in Maradona monetary policy?

And what on earth is an estate rent charge on a prospective new home and should it put you off?

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to This Is Money Podcast. I'm Georgie Frost and alongside me and editor Simon Lambert today is assistant editor Lee Boyce. And coming up from the recent GameStop-Fueled market frenzy saga to one in five newbie investors giving up. Mistakes happen to the best of us. But don't panic, our sage of Hertfordshire, Simon Lambert shares some of his own bloopers and believes they make
0:22.4	you a better investor. Meanwhile, we bring boring back to investing, and I mean that in the best
0:28.4	possible way. We look at how to invest for grandma's savings, income with minimum risk. Clue,
0:34.2	it's not Bitcoin or GameStop. Also today, things may feel pretty negative for Savers at the moment, but for now the Bank of England has decided to stick with interest rates at 0.1%, that is, but will we soon have to start paying banks to hold our cash?
0:49.3	Britain's booming by now, pay later industry faces regulation, but what will that mean?
0:53.3	And what are estate rent
0:55.9	charges don't forget you stop to date with all the latest breaking money news just go to this ismoney
1:00.0	dot co.uk or download the app but first we won't go over the reddit game stop small traders versus
1:07.1	short sellers story in any more detail but if you want that, please listen to the last podcast.
1:13.1	But the phenomenon that swept both sides of the pond has got our Simon thinking.
1:18.4	Now, as major investing platforms in apps in the UK and the US reported a rush to buy,
1:23.5	some who got in early and sold out would have made handsome profits.
1:27.0	Others, late to the party, will have paid the price.
1:30.7	Simon, tell us more about your thinking around your latest article and mistakes that you've made.
1:37.5	Well, I should start by saying that this is resolutely not another slot about GameStop.
1:43.1	I'm sure people have read and heard plenty about GameStop over the past week.
1:46.0	We did a whole podcast on it last week, which brought a reasonable amount of criticism for some of the things we said.
1:53.0	However, suffice it to say that the price of GameStop that had been pushed up by the Reddit-fueled trading frenzy to more than $400 a week ago
2:03.0	is now at $53. So if you bought in anywhere near that peak last week and in the frenzy,
2:14.3	then you are likely to have lost money. You might have made money, you might
2:18.7	sold out a higher price, but there was a lot of talk of holding the line, diamond hands,
2:22.5	all that kind of stuff. And anybody who did get involved near the end and did so in order to
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from This is Money, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of This is Money and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.