Episode 78: 2019 Retrospective: A Review and Discussion of the Year’s Guest Episodes

As we see 2019 out and enter a new decade, we thought it only fitting to do a round-up of some of our shows this year. While we had 26 guests throughout the year, we chose 14 that best captured the sensible investing and education-focused spirit of our show. Some of the guests we have included on this special episode include Rob Carrick, from The Global Mail and leading authority on Canadian personal finance, Alexandra McQueen, a teacher at York University, who offers an explanation on the difference between financial economics and financial planning and Jonathan Clements, who explains why the hardest part of investing is keeping it simple. We also share clips about nipping overconfidence in the bud with Daniel Crosby and the next grand challenge of investing with Dave Nadig. This is just a snapshot of some of the incredibly generous people who have joined us this year. We hope that this show has contributed in some way to educating and helping investors make informed decisions and we are excited for what’s on the horizon. Happy New Year from all of us here at The Rational Reminder!

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Key Points From This Episode:

• Rob Carrick’s insights into whether Canadians have a good relationship with money. [0:04:02.0]
• Dr. Moira Somers’ tips on lifestyle changes to decrease financial stress. [0:07:51.3]
• Why ‘debunking the nonsense’ of financial advice is so important to Barry Ritholz. [0:10:23.0]
• The difference between financial economics and financial planning. [0:13:10.0]
• Discover the importance of having a clear belief system when it comes to investing. [0:16:51.0]
• Criteria other than performance to use to choose a quant fund according to Wes Gray. [0:19:47.0]
• Why the most difficult part of investing is trusting in simplicity. [0:23:14.0]
• Learn what has surprised David Butler the most about working with academics. [0:28:56.0]
• Ben explaining discount rates and factors to his mom. [0:31:58.0]
• All factors will underperform at some stage so embracing volatility is key. [0:40:14.0]
• What Jill Schlesinger has found the most common investment blind spots to be. [0:42:54.0]
• A look at what adverse selection means and how it applies to DIY investors. [0:44:40.0]
• Find out why Daniel Crosby calls overconfidence the ‘granddaddy’ of investment biases.[0:46:17.0]
• Even though investing is ‘solved,’ that does not mean people are good investors. [0:44:40.0]

Tweetables:

“People are spending too much, they’re not saving enough and they know it but they don’t know how to get out of it.” — @rcarrick [0:04:59]

“Financial economics is a branch of finance which looks at the efficient to allocation of resources under conditions of uncertainty.” —  @MoneyGal  [0:13:09]

“If you have more confidence, you will be a better investor.” — @CameronPassmore [0:18:55]

“We are hardwired to believe that the harder we work, the more clever we are, the better our results are going to be and it’s simply isn’t the case.” —  @ClementsMoney [0:23:19]

“The shorter your horizon the more important the diversification it becomes.” —  @larryswedroe [0:41:58]

“Human beings sadly tend to let emotions guide a lot of our decisions and that’s why we feel better putting money into our retirement accounts when markets are trading higher.” —  @larryswedroe [0:43:37]

“Overconfidence is the bias that begets all other biases.” —  @danielcrosby [0:46:24]

“The real grand challenge is human beings and how we interact with money and how we plan for a lifetime.” —  @DaveNadig [0:52:47]

Links From Today’s Episode:

Rational Reminder Website — https://rationalreminder.ca/ 

Rob Carrick — http://www.robcarrick.com/

Rob Carrick on Twitter — https://twitter.com/rcarrick

The Globe and Mail — https://www.theglobeandmail.com/

Dr. Moira Somers — https://moneymindandmeaning.com/about-moira/

Barry Ritholz — https://ritholtz.com/

Barry Ritholz on Twitter — https://twitter.com/ritholtz

Alexandra McQueen on LinkedIn — https://www.linkedin.com/in/alexandramacqueen

Alexandra McQueen on Twitter — https://twitter.com/MoneyGal

Ted Seides on LinkedIn — https://www.linkedin.com/in/tedseides

Ted Seides on Twitter — https://twitter.com/tseides

Capital Allocators Podcast — https://capitalallocatorspodcast.com/

David Swensen — https://www.yale.edu/about-yale/leadership-organization/david-swensen

Wes Gray on LinkedIn — https://www.linkedin.com/in/alphaarchitect

Wes Gray on Twitter — https://twitter.com/alphaarchitect

Alpha Architect — https://alphaarchitect.com/

Jonathan Clements on Twitter — https://twitter.com/clementsmoney

The Wall Street Journal — https://www.wsj.com/

The Humble Dollar — https://humbledollar.com/

David Blitzer — https://www.indexologyblog.com/author/david_blitzer/

Standard and Poor’s — https://www.standardandpoors.com/en_US/web/guest/home

Dimensional Fund Advisors — https://www.dimensional.com/

David Butler — https://www.bloomberg.com/profile/person/18917002

Merton Miller — https://www.nobelprize.org/prizes/economic-sciences/1990/miller/biographical/

Larry Swedroe on Twitter — https://twitter.com/larryswedroe

Buckingham Asset Management — https://buckinghamadvisor.com/

Your Complete Guide to Factor Based Investing — https://www.amazon.com/Your-Complete-Guide-Factor-Based-Investing-ebook/dp/B01N7FCW2D

Jill Schlesinger — https://www.jillonmoney.com/

Jill Schlesinger on Twitter — https://twitter.com/jillonmoney

Dr. Daniel Crosby — https://www.linkedin.com/in/danielcrosby

Dr. Daniel Crosby on Twitter — https://twitter.com/danielcrosby

Brinker Capital — https://clients0.brinkercapital.com/

Dave Nadig on Twitter — https://twitter.com/davenadig

Jim Simons — https://www.forbes.com/profile/jim-simons/#440419a83b6a

Dick Thaler on Twitter — https://twitter.com/R_Thaler

Download the transcript of this episode here: Rational Reminder Podcast – EP. 78 – Transcript