Owen Rascovitch
speaker
2,532 appearances
9 recordings
1 series
first heard Mar 2019
last heard Feb 2020
Owen Rascovitch’s voice in public audio — every appearance, attributed to the second.
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Appearances
And with investing, it's probably the most visceral thing because you have so much money typically put into your investing, even if it's just super or whatever.
People tend to remember because of this thing called loss aversion bias, which is where we feel the pain of loss twice as much as the joy of gain.
And we think of these instances in our lives, like if you talk to your grandparents or your parents about their super retirement fund during the GFC, they could quickly recall their emotion to that point in time, but they couldn't tell you the next 10 or 12 years that have been the best.
we've ever seen so um our point with this episode is to let you know that it's okay if you make mistakes it's okay if you lose money but the important thing is that you manage how much you lose you don't put all of your eggs in one basket we've talked about diversification we've talked about staying within your circle of competence understanding things before you sign up before you sign the dotted line all just basic things that hopefully enable you to make
You know, you're going to make mistakes at the beginning, but hopefully those will be less costly mistakes.
And then you can snowball that into the future.
Sure.
And that's something that I probably, that's probably something you've taught me actually is that it's really good to make those mistakes and to make them firsthand because we're all wiser because we've been through it, right?
And the next GFC, I reckon after we have that conversation, once we have one and we have another conversation, you'll be able to recall some lessons learned and I'm sure you'll survive it one way or another.
But yeah, those things are going to happen, you know, spoiler alert.
Yeah.
markets are going to crash we're probably going to see a recession it's been 20 as we record this in 2019 it's been about 28 years since australia has had a recession the longest streak of any country ever
Doesn't go on forever.
House prices don't go up forever.
Stock markets don't go up forever.
ETFs have risks.
Share investing has risks.
We always say high risk, high reward or just risk in general.
Everything doesn't work out according to plan.
So it's okay to make mistakes.
Showing 1141–1160 of 2,532 · page 58 of 127
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