Ep. 175: Bill Bernstein on the Four Essentials to Investing Successfully
- By Bilal Hafeez
- 1 min read
Bill Bernstein is a neurologist turned investment advisor. He is also the author of several books, including The Intelligent Asset Allocator, The Four Pillars of Investing, If You Can: How Millennials Can Get Rich Slowly, and The Delusion of Crowds. Bill has just come out with a new edition of The Four Pillars of Investing. In this podcast we discuss:
- How finance is half maths and half Shakespeare
- Four pillars of investing
- No return without risk
- How to truly measure risk
- Know your history
- The four ingredients of bubbles
- The pressure from others/social psychology
- Avoid consensus
- Understanding the business of investing
- How to set up your portfolio at different ages
- Warren Buffet, Jim Simons and Ray Dalio
- Books recommended: Expert Political Judgement (Tetlock), The Secret of Our Success (Henrich), The Weirdest People in the World (Henrich), The Rise And Decline of Nations (Olson), Demosclerosis (Rauch)
You can find Bill’s latest book here.
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(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)