Principles of Investing • The Behavioral Divide with Hal Hershfield • Sage Investing Advice • Our Annual Research Project
Monthly AIRE Perspectives – January 2024
Dear Friends and Valued Clients,
Happy New Year! Please see below for The MAP – Monthly AIRE Perspectives for this month.
On the Principles of Investing
If you have been working with us for some time, you are likely very familiar by now about some of the lessons we regularly strive to convey regarding the principles of investing. From time to time, we get excellent articles with timeless advice on this topic. Here is a quick (4-minute) read from Dimensional Fund Advisors that succinctly highlights some of the key lessons about investing: uncertainty is avoidable, market timing is futile, and diversification is your friend. Click here for the article: When Headlines Worry You, Bank on Investment Principles.
Excellent Podcast to Consider: The Behavioral Divide with Hal Hershfield
Given the importance of investor behavior in long-term investing success, we want to highlight an excellent new podcast presented by Avantis Investors: The Behavioral Divide with Hal Hershfield. You can click here to view the podcast series. This is a great page to bookmark and there will be topics here that would be of interest to almost every investor.
Sage Investing Advice from…The Wolf of Wall Street!?!
Recently, I came upon a snippet of an interview of Jordan Belfort by Tucker Carlson. While initially skeptical, as I listened more, I was surprised to see that the person who gained notoriety many years ago for peddling penny stocks was spot on in his investing advice in this interview, with excellent insights into why professional stock pickers do not beat the market and why owning a broad portfolio of stocks long-term is the best way to invest. We encourage you to watch this! While the entire interview is 50 minutes long, the first ten minutes are highly focused on proper investing principles. Check out the interview by clicking here.
Our Annual Research Project and Year-Long Alternative Investments Research
Each year, in January and February, we conduct a comprehensive research project regarding our investments in public markets, where we question all of our asset class choices and compare our ETF choices with virtually all the other options in the markets. Each year, we go into this project with the thought that it is unlikely we will make any changes, but we have found that we end up making changes every year, as new, more efficient, or lower cost options come to market on a regular basis. We will be in touch with our results by the end of February.
At the same time, our process regarding private markets and alterative investments, including private equity, private credit, real estate and other alternative investments, is a year-round project. We are always meeting with managers and companies in search of potential investments. As part of this research, last week, I attended the Ares RIA Private Markets Summit in Vail, Colorado, where I met with executives at Ares and managers of numerous portfolios, and gained valuable insights into everything from private equity and credit to real estate and infrastructure. This is all part of the work we do throughout the year behind the scenes to stay in touch with markets and opportunities.
I also had the good fortune to meet Lindsey Vonn, who gave an inspirational talk about her mindset and process.
Once again, we would like to thank you for your trust and loyalty, and look forward to speaking with you in the upcoming month. 😊
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