An Updated Investment Strategy by Tom Cromwell
Hear it Here - https://www.audible.com/pd/B0959MWFGM/?source_code=AUDFPWS0223189MWU-BK-ACX0-258691&ref=acx_bty_BK_ACX0_258691_pd_us
Discover the fortune that lies hidden in the stock market for everyone who wants to quit work someday. Will the stock market crash? Find out where and how to grow and protect your money over the next decade to get stellar returns, using this investment guide. Almost fifty years have passed since Benjamin Graham wrote his seminal work The Intelligent Investor.
Some of Graham’s advice is timeless—look for and buy value, and the rewards will come – and although the fundamentals of value investing have not changed, much of the advice was last updated in 1972. Fifty years of massive change in our markets, society, and technology has rendered a lot of the more specific information dated and worthless. Everyone wants to know what the future will hold and predict where markets are going. Up or down? Is it the bottom or the top? Will we have deflation or inflation or even hyperinflation? Knowing the answer to these questions would, of course, be of massive financial benefit and remove much of the stress and worry from how we organize our financial affairs. In this audiobook you will discover: What is the thing most likely to trigger the next market crash and how to watch for it? What comes out top between growth and value investing, and why? Whether you should you invest in Asia or other markets Are retiring Boomers going to make markets slump? Are the best days over for the passive investors? How little mistakes keep you poor. How to construct a dynamic portfolio – that will deliver superior returns in all conditions And much, much more
https://www.audible.com/pd/B0959MWFGM/?source_code=AUDFPWS0223189MWU-BK-ACX0-258691&ref=acx_bty_BK_ACX0_258691_pd_us
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Transcript
Almost fifty years have passed since Benjamin Graham wrote his seminal work The Intelligent Investor.
Right now, at the start of:What’s incredible is that most investors would agree with him (according to Robert Schiller’s crash confidence index)—but the bubble keeps growing and growing.
he advice was last updated in:Fifty years of massive change in our markets, society, and technology has rendered a lot of the more specific information dated and worthless.
issued an updated version in:For example, Zweig specifically mentions the crash in Amazon stock values—which looks pretty silly now as anyone who rode out the whole cycle would have made a fortune, let alone anyone who jumped in in 2002.
Correspondingly I have decided it was time to return to the themes of The Intelligent Investor but bring the advice up to date.
Graham expounds on the correct ratio of bonds versus stocks and draws on the experiences of the nineteen fifties and sixties—their inflation records and stock market crashes.
The advice that he gives for a defensive investor to be 50% in bonds would have seen much of their value destroyed in the high inflation nineteen seventies, although shares also had bad periods in ‘73/’74.
What does the last 50 years tell us? We have almost doubled the data that Graham was working with, and what are the current trends? On the other hand, some of Graham’s advice is timeless—look for and buy value, and the rewards will come.
However, renowned proponents of this advice, such as Warren Buffett, have not always found it easy to put into practice.
(post- pandemic) in Japan in:Sometimes you need immense patience and calm to follow Graham’s advice when everyone around you is making huge returns in a raging bull market.
But does it pay off, or would you have just missed the investment returns of your lifetime? Everyone wants to know what the future will hold and predict where markets are going.
Up or down? Is it the bottom or the top? Will we have deflation or inflation or even hyperinflation?
