Jason Zweig

Recommended reading, economic debates, predictions and opinions.
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Flaccidsteele
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Re: Jason Zweig

Post by Flaccidsteele » 27 Aug 2015 16:36

The Irrelevent Investor wrote:Since turnover is negatively correlated to investment performance, no post that stand the test of time will include trade setups or forecasts. In my writing, nothing is particularly actionable, but hopefully it is thought provoking because for 99% of investors, more good comes from thinking then from acting.
I don't know much about the "Irrelevant Investor", but the ideas remind me of the various Charlie Munger and Warren Buffett quotes that I've read over the last 3 decades.
“It takes character to sit with all that cash and to do nothing." - C.M.

"Lethargy, bordering on sloth should remain the cornerstone of an investment style." - W.B.

"Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing." - W.B.

"A lot of people with high IQs are terrible investors because they’ve got terrible temperaments." - C.M.

“I insist on a lot of time being spent, almost every day, to just sit and think...I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business." - W.B.

“The difference between successful people and really successful people is that really successful people say no to almost everything.” - W.B.
Retired @ 40 after reading Munger/Buffett. I avoided a fragile retirement by avoiding conventional volatility management (diversification, re-balancing and asset-allocation). "Put 90% in a very low-cost S&P 500 index fund...the long-term results will be superior" - Warren Buffett

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Peculiar_Investor
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Re: Jason Zweig

Post by Peculiar_Investor » 29 Nov 2016 09:06

A rehash of a number of other articles that he's posted but still worthy of reading and contemplating -- Some of the Wisest Words Ever Spoken About Investing | Jason Zweig
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BRIAN5000
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Re: Jason Zweig

Post by BRIAN5000 » 30 Nov 2016 18:35

I also give thanks to Mr. Bernstein for teaching me that wealth is a loan, not a gift, from the markets. A few months of a bear market can claw away all the gains you pile up over years of bull markets. Finally, Mr. Bernstein never tired of emphasizing that we can never know the future — least of all at the very moments when it seems most certain.
This passage is from your link so how are you supposed to make money?
“Sometimes you are going to sell early and wish you would’ve held on, other times you will hold on a
little bit longer and wish you would’ve sold early - this is just part of the game.” - Frank Zorilla via Abnormal Returns

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Peculiar_Investor
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Re: Jason Zweig

Post by Peculiar_Investor » 30 Nov 2016 19:06

BRIAN5000 wrote:
I also give thanks to Mr. Bernstein for teaching me that wealth is a loan, not a gift, from the markets. A few months of a bear market can claw away all the gains you pile up over years of bull markets. Finally, Mr. Bernstein never tired of emphasizing that we can never know the future — least of all at the very moments when it seems most certain.
This passage is from your link so how are you supposed to make money?
The full context (with my bold)
Jason Zweig wrote:From the economist and investing writer Peter Bernstein, who died in 2009, I learned about Pascal’s wager: You must weigh not only the alluring probabilities of being right, but the dire consequences of being wrong.

I also give thanks to Mr. Bernstein for teaching me that wealth is a loan, not a gift, from the markets. A few months of a bear market can claw away all the gains you pile up over years of bull markets. Finally, Mr. Bernstein never tired of emphasizing that we can never know the future — least of all at the very moments when it seems most certain.
I think the first part about Pascal's wager is important but the last part I've bolded is critical.

As to how you make money? You educate yourself and do your homework and access your choices with probabilities in mind. That should keep you from risking the mortgage money for the next "sure thing" IPO or penny stock. Think of the dire consequences of being wrong.
Imagefiniki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.

Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams

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