Investing In Uncertain Times w/ Joel Greenblatt, Bill Miller, Howard Marks, François Rochon (RWH021)

William Green showcases some of the most valuable insights from four investing superstars who have recently appeared on the “Richer, Wiser, Happier” podcast: Joel Greenblatt, Bill Miller, Howard Marks, & François Rochon. Here, these famed investors share practical lessons on how to deal with uncertainty & handle the emotional challenges of investing in turbulent times.
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:03:34 - How a disastrous investment taught Joel Greenblatt that anything can happen.
00:10:34 - What Fidelity legend Peter Lynch learned from a shocking setback early in his career.
00:12:06 - How to protect ourselves from uncertainty, bad luck, & our own analytical mistakes.
00:12:49 - Why Howard Marks warns that you shouldn’t push the limits if you want to avoid ruin.
00:14:48 - How Joel Greenblatt deals with mistakes by learning from them, then moving forward.
00:24:08 - How Joel handles the “kick in the stomach” when an investment goes wrong.
00:31:02 - How to succeed by taking advantage of the wild emotional mood swings of the crowd.
00:32:30 - Why stock pickers must learn to value businesses, buy at a discount, & then wait.
00:36:17 - How Bill Miller handles the discomfort of brutal losses during the most turbulent times.
00:39:00 - What Bill advises regular investors to do so they can endure the pain of market mayhem.
00:40:33 - Why Howard Marks says we need to be honest about our tolerance for risk & loss.
00:42:06 - How the best investors diversify or concentrate in ways that suit their temperament.
00:46:07 - Why Howard believes that “emotion is the greatest enemy of superior investing.”
00:48:35 - How Sir John Templeton thrived by hunting for bargains in the most-hated markets.
00:52:41 - Why Howard Marks thinks he was wrong to be a “knee-jerk skeptic” about Bitcoin.
00:55:30 - How to safeguard against our own biases, hubris, & overconfidence.
01:00:58 - Why François Rochon is convinced that it’s rational to be optimistic about the future.
01:02:51 - What history shows about mankind’s extraordinary ability to find solutions to its problems.
01:13:31 - Why Warren Buffett says that bad news is an investor’s best friend.
01:15:23 - Why Buffett regards babies being born in America today as “the luckiest crop in history.”
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▶️ RELATED EPISODES:
- Principles For Success In Investing & Life w/ Ray Dalio: • Principles For Success...
- This Only Happens ONCE In 25 Years: Sea Change In The Stock Market w/ Howard Marks: • A Sea Change Is Happen...
- The Art Of Investing w/ François Rochon: • The Art Of Investing w...
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ABOUT OUR SHOW 🎙
On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.
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❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.

Пікірлер: 112

  • @WeStudyBillionaires
    @WeStudyBillionaires Жыл бұрын

    ⚠ IMPORTANT: Please beware of cyber scams and phishing attacks. We will never ask for your contact info in the comments section. Kindly report suspicious accounts you see below. Thank you!

  • @jzmotion
    @jzmotion Жыл бұрын

    William is a treasure.

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Thanks a lot! That's very kind of you to say. Warm wishes, William

  • @petez4608

    @petez4608

    Жыл бұрын

    Absolutely!

  • @fernandorodriguez7068
    @fernandorodriguez7068 Жыл бұрын

    This is really a great contribution of excerpts from great investors combined with great interpretations by the host. Thank you very much William!!!

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    So glad you enjoyed it, Fernando. Many thanks. Warm wishes, William

  • @felixubogu5348
    @felixubogu5348 Жыл бұрын

    Thank you William! You perform a great service to society in sharing the thoughts, experience and guidance of these truly exceptional investors.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Thanks so much for the support, Felix!

  • @WilliamGreenRicherWiserHappier

    @WilliamGreenRicherWiserHappier

    Жыл бұрын

    Many thanks, Felix. Warm wishes, William

  • @wenkaiyang1487
    @wenkaiyang1487 Жыл бұрын

    Thanks for the wonderful interview!

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Glad you enjoyed it!

  • @montecrist
    @montecrist Жыл бұрын

    I discovered this channel a few weeks ago. What a treasure! Subscribed.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Thank you so much! Cheers!

  • @WilliamGreenRicherWiserHappier

    @WilliamGreenRicherWiserHappier

    Жыл бұрын

    Great! So glad you're enjoying it. Warm wishes, William

  • @HaruSakamoto
    @HaruSakamoto Жыл бұрын

    William's videos, especially this one is a pure diamond. It's almost astonishing to me that these informations are still considered as "contrarian" to most people. Ever since series of great investors had been saying similar messages almost 100 years ago, I guess every generation just defaults to its own human nature, and all those accumulated knowledge is found by only the ones who look for...

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    So happy to hear you enjoy our show! Thank you so much.

  • @WilliamGreenRicherWiserHappier

    @WilliamGreenRicherWiserHappier

    Жыл бұрын

    Many thanks! Warm wishes, William

  • @tobybear8297
    @tobybear829711 ай бұрын

    Great podcast! Thank you!

  • @WeStudyBillionaires

    @WeStudyBillionaires

    11 ай бұрын

    Our pleasure!

  • @QualitativeInvestor
    @QualitativeInvestor Жыл бұрын

    This is an absolutely great episode, William!

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Many thanks, Dmitry! So glad you enjoyed it. Warm wishes, William

  • @dessanguyen
    @dessanguyenАй бұрын

    Wow the algorithm sent me here, today, after so many portfolios experienced a shaky drawdown for small caps which I went a little too heavy in. Thank you, my new fav channel I been telling my peeps about u guys please keep up the wholesome gift of your service ❤

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Ай бұрын

    Welcome aboard! 🎉

  • @dennisbradley6799
    @dennisbradley6799 Жыл бұрын

    Great show great idea love this.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Glad you enjoyed it, Dennis!

  • @daryloehley1230
    @daryloehley1230 Жыл бұрын

    Thank you William, it's always so refreshing to listen to your podcast, I always feel the world will be a better place and more positive. Always worth the listen

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Many thanks, Daryl. That's very kind of you to say. Warm wishes, William

  • @sajanmathew9019
    @sajanmathew9019 Жыл бұрын

    Thank you william. 🌹

  • @kgr_alex
    @kgr_alex10 ай бұрын

    awesome video. thank you :)

  • @WeStudyBillionaires

    @WeStudyBillionaires

    10 ай бұрын

    Glad you liked it!

  • @value_investing
    @value_investing Жыл бұрын

    Hi William, very much appreciated your talk and also enjoyed your newest book: Richer, wiser, happier! I see what's your comments about the individual temperament related with investment. I couldn't agree with you more. However, just as you said, even the people with lots emotions also could be the master of stock investment, like Joe Greenblatt. I don't know if you read the book thinking fast and slow. The information I got from that book is that if we keep practicing, we could control your emotions and bias, and make right decision. I remembered that how I was so panicked when one of my stock dip 50% in one day when I started to invest. And now I am much better (even my stomach still hurts a lot). Thanks again for your talk, really enjoyed it.

  • @WilliamGreenRicherWiserHappier

    @WilliamGreenRicherWiserHappier

    Жыл бұрын

    Thanks so much for your thoughtful comments. I think you're definitely right that we can get better at handling our emotions. It also helps not to have too much debt or a short time horizon, I think. Warm wishes, William

  • @dragonchii
    @dragonchii Жыл бұрын

    A recap of the podcast interviews of the year in December would be a great addition to the reflection that a lot of us practice around that time. I enjoyed the episode William. Thank you for bringing us RWH.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    So happy to hear you enjoyed the episode!

  • @Chrisbeament-Trader
    @Chrisbeament-Trader Жыл бұрын

    Loved this. Great summary!

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Glad you enjoyed it, Chris!

  • @WilliamGreenRicherWiserHappier

    @WilliamGreenRicherWiserHappier

    Жыл бұрын

    Many thanks, Chris.

  • @nunofreitas8838
    @nunofreitas8838 Жыл бұрын

    Thank you...this is better than public service!

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Thanks so much! Warm wishes, William

  • @innovate90
    @innovate90 Жыл бұрын

    Your conversations are really great and helpful, thanks

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Happy to hear that!

  • @WilliamGreenRicherWiserHappier

    @WilliamGreenRicherWiserHappier

    Жыл бұрын

    Thanks so much, Pat. Warm wishes, William

  • @chriscampbell703
    @chriscampbell703 Жыл бұрын

    Great episode! Thank you so much William

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Thanks a lot, Chris! Much appreciated. Warm wishes, William

  • @Brandon.T
    @Brandon.T Жыл бұрын

    Great episode!! Your thoughts and insights are greatly appreciated.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Thank you so much, Brandon!

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Many thanks, Brandon! Much appreciated. Warm wishes, William

  • @hirenpatel247
    @hirenpatel247 Жыл бұрын

    Fantastic episode, William! You talks have been a treasure trove and I find myself listening to them again and again. Thank you so much!

  • @PE-TX
    @PE-TX Жыл бұрын

    Great episode! Also just got your book Richer, Wiser, Happier and finished the chapter on Sir John Templeton and it was wonderful! Thanks for bringing us all this investing wisdom.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Awesome! Thank you!

  • @WilliamGreenRicherWiserHappier

    @WilliamGreenRicherWiserHappier

    Жыл бұрын

    Thanks a lot! Much appreciated. Warm wishes, William

  • @PE-TX

    @PE-TX

    Жыл бұрын

    @@WilliamGreenRicherWiserHappier Wanted to add how much more interesting the reading is when you add your own personal thoughts about the time you spend with the person. Like when you said, at the end of the chapter, what you thought of Templeton. This book is so rich I have to stop reading frequently to reflect on the information I've just absorbed. Such a great book and I'm only on Howard Marks right now! Thanks again! Paul

  • @WilliamGreenRicherWiserHappier

    @WilliamGreenRicherWiserHappier

    Жыл бұрын

    @@PE-TX That's great to hear! Many thanks. Warm wishes, William

  • @maddysydney
    @maddysydney Жыл бұрын

    William, this is a treasure trove of investing wisdom that you have captured in such a very structured and annotated video. I can already say I will be listening to this at least every month until all the key ideas are seared into my memory. Kudos! I hope to connect with you some day and may be you can help me write my investing book. 🙏🏼

  • @yashbrown1691

    @yashbrown1691

    Жыл бұрын

    Fancy seeing you here 👀

  • @maddysydney

    @maddysydney

    Жыл бұрын

    @@yashbrown1691 You found me! All the best mate

  • @pareshpatel2642
    @pareshpatel26427 ай бұрын

    William the amount to time , effort and research You put into prepare the questions for you guest is really valuable . Really appreciate it . Thank you

  • @WeStudyBillionaires

    @WeStudyBillionaires

    7 ай бұрын

    Much appreciated!

  • @jaroslawszwaja9748
    @jaroslawszwaja9748 Жыл бұрын

    Good job William. Like always drawing attention on key items. Don't stop pls.

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Many thanks, Jaroslaw! Warm wishes, William

  • @airking5395
    @airking5395 Жыл бұрын

    Phenomenal destillation of usefull thinking! Great format, Wiiliam!

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    That's great to hear! Thanks a lot!

  • @tulipmania4923
    @tulipmania4923 Жыл бұрын

    Thanks William Wonderful idea

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Many thanks! Warm wishes, William

  • @chrisdavey3113
    @chrisdavey3113 Жыл бұрын

    That was incredibly insightful. Regarding the optimism for the human race, the best book (watch I recommend frequently) is the beginning of infinity by David Deutsch. By the way Francois was speaking, it seems like he may have already read it.

  • @WilliamGreenRicherWiserHappier

    @WilliamGreenRicherWiserHappier

    Жыл бұрын

    Thanks a lot, Chris. There was a very interesting discussion between Tim Ferriss and David Deutsch -- worth checking it out, if you have a chance. Warm wishes, William

  • @PhillCurtis
    @PhillCurtis Жыл бұрын

    Thank you for doing this 👌

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Thanks a lot, Phil. Much appreciated. Warm wishes, William

  • @PhillCurtis

    @PhillCurtis

    Жыл бұрын

    @@RicherWiserHappier travelled home tonight listening to Richer wiser happier - I admit I've listened to it multiple times to ink in the teachings and just saw you commented, bless you for taking the time. 👍

  • @anttijarvenpaa5292
    @anttijarvenpaa5292 Жыл бұрын

    Thanks for the content. As always, I found it very usefull.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    So glad you did!

  • @davidstephensoniv543
    @davidstephensoniv543 Жыл бұрын

    Great content and wise advise from very experienced investors. I was surprised to learn you haven't practiced doing your own research or critical thinking skills about the virus origins. It's been proven it was made in a lab. You listed a large number of subscription services you are subscribed to that provide information overload. I can relate to that. As a journalist, I assume you have to support the main stream narrative and are not allowed to have an opposing opinion. That said, I do appreciate the financial wisdom you share.

  • @Gjackliu
    @Gjackliu Жыл бұрын

    Thank you, William! Always love to see you.

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Much appreciated, Ken! Thanks a lot. Warm wishes, William

  • @Money__Matters007
    @Money__Matters007 Жыл бұрын

    Very engaging content indeed

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Thank you so much!

  • @PrimeOptimus111
    @PrimeOptimus1116 ай бұрын

    best of all epsodes. keep going in this direction. just great ;-)

  • @WeStudyBillionaires

    @WeStudyBillionaires

    6 ай бұрын

    Thank you so much 🙏

  • @chanduprajan5436
    @chanduprajan5436 Жыл бұрын

    Outstanding podcast. So insightful and helpful indeed. Thank you so much.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Our pleasure!

  • @trevormacdougall9385
    @trevormacdougall9385 Жыл бұрын

    Excellent podcast. Loved your book also ❤

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Many thanks, Trevor. Warm wishes, William

  • @dr.sunitimishra1346
    @dr.sunitimishra1346 Жыл бұрын

    Thanks so much for sharing your knowledge and thoughts with us. One of the best podcast I have listened to.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Glad you enjoyed it!

  • @djramz3
    @djramz3 Жыл бұрын

    Thank you William !! Keep doing what you and the team are doing, always a pleasure to listen to your podcasts, again thank you !

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Thanks so much! I really appreciate it. Warm wishes, William

  • @djramz3

    @djramz3

    Жыл бұрын

    @@RicherWiserHappier 😊

  • @WhiteCloud746
    @WhiteCloud746 Жыл бұрын

    brilliant

  • @MonkstoneCapital
    @MonkstoneCapital Жыл бұрын

    Another great pod, keep it up William !

  • @RicherWiserHappier

    @RicherWiserHappier

    Жыл бұрын

    Thanks a lot!

  • @whealth.bharat
    @whealth.bharat Жыл бұрын

    Gr8!

  • @johnhoang4262
    @johnhoang426211 ай бұрын

    This is like listening a hall of fames!!!

  • @WeStudyBillionaires

    @WeStudyBillionaires

    11 ай бұрын

    Thank you so much for tuning in!

  • @greigsanderson
    @greigsanderson Жыл бұрын

    Covid was from a Chinese lab, not a wet market in Wutan.

  • @PhillCurtis
    @PhillCurtis8 ай бұрын

    Revisiting this, i have such a bad memory 👍😅

  • @WeStudyBillionaires

    @WeStudyBillionaires

    8 ай бұрын

    Thank you so much for watching it again!

  • @suleimanpeshawari1032
    @suleimanpeshawari1032 Жыл бұрын

    How ? Buy low / sell high / short high / buy low

  • @RockyP-xw8rd
    @RockyP-xw8rd Жыл бұрын

    50:29 Turkish market

  • @DONALD1951
    @DONALD1951 Жыл бұрын

    I lost a lot of money since 2022…. 1/2 my portfolio…I got caught up on several small and mid cap stocks…didn’t realize they were very speculative…I trusted that the market would rebound…and it hasn’t… my biggest mistake is not focusing on risk management..I was buying more shares as the stocks were dropping…bad idea unless it is a non speculative stock like say Apple… I hold a few of these spec stocks still hoping for a miracle I guess..but most of my holdings are high quality and many are steady dividend payers..

  • @brianbirnbaum9760
    @brianbirnbaum9760 Жыл бұрын

    I slightly disagree with your take. I think the difference between a good investor and a great investor is that the great investor realizes that buying a great business at a fair price is better than buying a fair business at a great price. That’s where buffet became a legend.

  • @JG-re2bb
    @JG-re2bb Жыл бұрын

    long on talking; light on substance

  • @Dr.Dumpnpump
    @Dr.Dumpnpump Жыл бұрын

    Great video. Careful spreading misinformation regarding the pandemic though, it didn’t come from someone eating an animal in a wet market…it came from a lab.

  • @thebrothersbond6663
    @thebrothersbond6663 Жыл бұрын

    Eating wild animals in a wet market, lol, too much time looking at stocks and not enough learning what's going on around you, it was a lab leak William

  • @jackwu3733
    @jackwu3733 Жыл бұрын

    I read your book (Richer, Wiser and Happier) and I loved it! Surely it made a huge and positive impact on me. Listening to this Podcast is a great recap. Thank you William and Thank you We Study Billionaire for this great podcast.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Жыл бұрын

    Glad you enjoyed it, Jack!

  • @WilliamGreenRicherWiserHappier

    @WilliamGreenRicherWiserHappier

    Жыл бұрын

    Many thanks, Jack!