My Worst Investment Ever December 2023
Ep761: Andrew Stotz – 27 Top Podcast Interviews of 2023 to Reduce Risk and Increase Return
In 2023, I released about 160 My Worst Investment Ever podcast episodes, and this is a list of some of my and my listeners’ favorites. I have also created a free “Top 27 from 2023” playlist where you can listen to and view this curated list for free. Just go to My Worst Investment Ever dot com and click the button that says, “Top 27 from 2023.” Since starting this podcast, I have published 760 episodes and look forward to continuing this journey in 2024! I welcome you on my journey “to help 1,000,000 people reduce risk in their lives.”
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Ep760: Johan Norberg – We Have to Fight for Capitalism
BIO: Johan Norberg is an author, lecturer, and historian of ideas from Stockholm, Sweden. His books on economics, politics, and history have been translated into more than 30 languages.
STORY: Johan talks about capitalism and why it’s important.
LEARNING: We should never lose sight of the benefits of capitalism. Capitalism is about peace, trust, and voluntary exchange, not war.
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Ep759: Steve Faktor – How to Build Your Investment Future
BIO: Steve Faktor is a former Fortune-100 executive—turned entrepreneur, futurist author of Econovation, and podcaster. As Managing Director of IdeaFaktory Innovation, he helps tech, financial services, and consumer goods clients see and build the future.
STORY: Steve joins the My Worst Investment Ever podcast again, this time sharing advice on how investors can see and build their investment futures.
LEARNING: Try to understand the future by differentiating between noise and legitimate signals. Don’t let others impose on your story. Act in principle.
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Ep758: Eric Simonson – Not All Real Estate Investments Are Made Equal
BIO: Eric Simonson is the Founder and CEO of Abundo, a financial planning firm that teaches and empowers people to take action and own their financial lives.
STORY: In 2020, during the early days of COVID-19, Eric and his wife sold their home and bought a condo because they wanted to live downtown. They later sold the condo in 2023 and lost about 10% on that home purchase.
LEARNING: Not all real estate investments are made equal. Focus on location and build quality. Don’t expect to flip new builds into a profit immediately. Don’t bet on a recovery of a big macro event.
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Ep757: Kimberly Flynn – Don’t Put All Your Savings Into a Single Idea
BIO: Kimberly Flynn, CFA, is a founder and Managing Director of XA Investments, responsible for all product and business development activities.
STORY: Kimberly put all her $2,000 savings into a single telecom-dedicated mutual fund at the peak of telecom valuations and saw it go down to 30 cents on the dollar.
LEARNING: Don’t put all your savings into a single idea. Be diversified, especially when dealing with active manager selection. Know yourself and your risk tolerance.
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Ep756: Peter Goldstein – Check Your Emotions at the Door
BIO: Peter Goldstein is a seasoned entrepreneur, capital markets expert, and investor with over 35 years of diverse international business experience.
STORY: He and four others put a significant amount of money into opening up this facility in Long Beach, California, where cannabis was in great demand just when it was being legalized for recreational purposes. At the time, there were no clear regulations, making compliance with the ever-changing rules costly to the point where the business was not making any profits.
LEARNING: Check your emotions at the door. Be cautious before you jump on a trend. Analyze and understand your risk. Get expert help if you don’t understand your investment.
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ISMS 37: Larry Swedroe – Pay Attention to a Fund’s Proper Benchmarks and Taxes
In this episode of Investment Strategy Made Simple (ISMS), Andrew gets into part two of his discussion with Larry Swedroe: Ignorance is Bliss. Today, they discuss two chapters of Larry’s book Investment Mistakes Even Smart Investors Make and How to Avoid Them. In this fourteenth series, they discuss mistake number 26: Do You Fail to Compare Your Funds to Proper Benchmarks? And mistake 27: Do You Focus On Pretax Returns?
LEARNING: Always run a regression analysis against an asset pricing model on portfoliovisualizer.com. Actively managed funds have higher tax expenses than ETFs and mutual funds.
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Ep755: Jitipol Puksamatanan – Let Time Be Your Friend
BIO: Dr. Jitipol Puksamatanan heads macro and wealth research at CGS-CIMB Securities (Thailand). He develops actionable investment ideas, independent economic analysis, and asset allocation strategies.
STORY: Jitipol learned as much as he could about a stock he was interested in. He was very confident in this stock. So much so that even when the stock price fell, and he made a loss, he doubled his investment, believing the price would go up, but it never did. Jitipol lost all his savings in this investment.
LEARNING: Investing is about knowing yourself and what you’re doing. Investing is not gambling; don’t expect overnight success.
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Ep754: Anatoliy Labinskiy – Double-Check How Your Product Looks and Works
BIO: Anatoliy Labinskiy is an entrepreneur, eCommerce expert, and a holder of 4-time Two Comma Club awards. He is the founder of GSM Growth, an agency that helps e-commerce entrepreneurs achieve a new level of growth in their businesses.
STORY: When Anatoliy and his partner decided to scale their e-commerce shoe business, they paid a supplier in China $250,000 upfront and let him handle everything. The supplier sent customers low-quality shoes and eventually stopped shipping products despite having large orders. The partners had to refund customers and lost all the money they’d paid the supplier.
LEARNING: Double-check with your supplier how the product looks and works before scaling your sales. Think about how you’ll control your inventory once you scale your sales. Start slow.
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DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article.