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 · Remembering Vanguard Group Founder Jack Bogle · 18 Jan 2019 podcast

And a lot of people feel that the biggest mistake Jack Bogle made in his career was to turn down the idea of sponsoring ETFs in the early 1990s when the inventor of the ETF matched

A man named Nathan Most brought the idea to him at Vanguard. matched

But when Mr. Most said to Jack Bogle, you can trade these anytime you want, all day long, anytime during the market, Jack famously said to him, why in the world would anybody want to do that? matched

And he hated the idea and he never warmed to ETFs. matched

And to his dying day, he was very ambivalent about them and felt that they created too much potential for investors to hurt themselves by over-trading. matched

Thanks for having me. matched

WSJ Your Money Briefing · You Can Time the Market, But There's a Catch · 17 Sep 2018 podcast

You know, the book really emphasizes that it's extremely difficult to call the turning points in the market, not just the stock market, but the bond market or any financial market, because most of the signals you'll get over the course of an investing lifetime are false signals. matched

They're noise. matched

Because the markets don't change direction in a really significant way all that often. matched

So the reason you want to play defense as part of your offense is because you never really can be 100% sure that the market's going to change direction. matched

So being a little conservative most of the time is a good idea. matched

If you think about it, over the course of most people's investing lifetimes, we've seen the internet bubble burst in 2000. matched

We had the financial crisis in 2008, 2009. matched

Before that, the crash of 1987. matched

Long before that, a crash in 1973, 74. matched

So in 40-some years, there have been four major turns in the stock market. matched

And over the long sweep of history, that's about roughly how often they tend to happen. matched

So if you're expecting a huge turn any minute, most of the time you'll be wrong. matched

Yeah, exactly. matched

The other thing is what we do know both from history and from psychology is that people's emotions tend to give them exactly the wrong signals. matched

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