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 · How to Invest Without Emotions Clouding Your Judgement · 17 Sep 2021 podcast

But it can be very difficult. voice-verified

Probably the simplest and best thing you should do, and you can ask this before you buy the asset, ask yourself after you own it. voice-verified

If I did not already own it, would I want to buy more at the current price? voice-verified

And if you wouldn't be willing to buy it if you didn't own it, then... voice-verified

you really should ask yourself, why am I holding on to it now that I do own it? voice-verified

And the obvious answer would be the main reason I'm hanging on to it is I don't want to admit I'm wrong. voice-verified

So if you wouldn't be willing to buy more if you didn't own it in the first place, then you probably shouldn't be willing to hold it now that it has gone down. voice-verified

Yeah, it's exactly what you should do. voice-verified

And I think the important thing to bear in mind is the attitude you should have toward researching your investment decisions. voice-verified

There's a book out by Julia Galef called The Scout Mindset. voice-verified

And in it, she draws a really useful distinction between two ways that people think. voice-verified

Some people think like soldiers and other people think like scouts. voice-verified

And what soldiers do is they will defend to the death their position, and they will attack anybody who threatens it. voice-verified

And you really don't want to think like a soldier. voice-verified

You want to think like a scout, somebody who is simply trying to figure out what is in the landscape ahead. voice-verified

And, you know, what are the risks? voice-verified

What are the potential rewards? voice-verified

And who has an open mind and uses voice-verified

all their senses to try to figure out what's coming. voice-verified

And if you view contradictory information as a personal threat to you, you will never learn what you may need to know in order to get the best returns from your investments. voice-verified

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