Jason Zweig

speaker

906 appearances 17 recordings 1 series first heard Jan 2018 last heard Sep 2022

Jason Zweig’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Your Most Valuable Investing Tool in 2022 Could Be Discipline · 12 Jan 2022 podcast

And I think that brings us to another point, which is what every investor wants is good ideas, the next Google, the next Tesla, the next hot stock or other financial asset. voice-verified

But what we all need more than good ideas is good habits. voice-verified

Because investing successfully over the course of a lifetime is much more a function of how you behave in general than it is over one particular hot idea that might have you all excited now, but you won't even remember decades from now. voice-verified

Yes, the power of inertia is something that investors can make work for them instead of against them. voice-verified

You know, if you believe that the US or the global economy have the potential to grow over the course of time, then the single most important decision you can make is to own a piece of that and to keep it. voice-verified

And if all you did were to buy and hold a diversified mutual fund or ETF and just hang on to it for decades afterwards, you would probably be fine. voice-verified

The incredible specificity of the forecast, you know, the Fed is going to raise rates one quarter of a point three times in 2022, starting in March, should make you suspicious. voice-verified

The Fed has a long history of saying it will do one thing and then doing something entirely different, often the complete opposite. voice-verified

And its own forecasts are often repudiated voice-verified

by the actions it takes, sometimes even only a month or two later. voice-verified

The economy is very dynamic. voice-verified

Circumstances and conditions can change incredibly fast. voice-verified

And when they do, the Fed does have an obligation to change its policy to match the new circumstances. voice-verified

So I wouldn't bet against a rate increase, but I certainly wouldn't position my entire portfolio to benefit from it. voice-verified

Discipline simply means taking a structured approach to your financial decisions rather than just using gut feelings to guide how you act. voice-verified

So, for example, if you're concerned that the stock market might crash and tech stocks might go down 50% or something like that, voice-verified

The first thing I would do is I would make a watch list of companies or ETFs that you would regard as very attractive if they went down by 25 or 50%. voice-verified

They've just become cheaper. voice-verified

That means their future returns have gone up, all else being equal. voice-verified

So you should, in a disciplined way, position yourself to be ready to take advantage of that. voice-verified

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