Of all the decisions you make as an investor, how much risk you take outweighs all of them. It is more important than costs, more important than diversification, more important than picking the right stock / fund / investment.
Almost as much as we love stock discussions, we love talking about our favorite fund managers. These discussions are unfortunately almost always a complete waste of time.
We meet with our fund managers and financial advisers with a goal in mind. But we always end up talking stocks. If you insist on buying the tank, they’ll sell you a tank, folks.
Oh, we all use index funds. ETFs. We all avoid the evils of acting trading, sure. But in the end, we are all active managers, friends. Yes, you, too.
Part 1 of the Things that Matter / Things that Don’t series. Having a World View means having a center – a core set of philosophies about how the world works, what is objectively true and false, and what actually matters.