Robin Wigglesworth

I'm team GDP adjustment personally, Toby, so I'm fully on board.

It's a bit like George Soros always said that, you know, when I see a bubble, the first thing I do, I jump in with both feet, right?

It actually makes rational sense to try and ride a bubble up, obviously on the proviso that you can get the hell out of Dodge before it implodes.

Yeah, the only time that being in academia would have actually paid off financially.

I'm personally a little bit heartened knowing that even a brilliant person like Isaac Newton is such a slave to his emotions that he can get sucked back in and sort of get wiped out.

So I assume he's still retired a pretty wealthy guy, right?

No, no, I think that probably sounds like a pretty decent retirement, given advice of 18th century standards.

What about somebody a bit more recent?

I want to talk about Winston Churchill.

What kind of investor was he?

I'm guessing he wasn't a super conservative, sober, careful kind of person, right?

You're making this up, Toby.

I don't believe you for a second now.

That can't never have been true.

the killers so he wastes entire book advance this massive gargantuan envy inducing book advance on trading stocks and margin lost all the money and they still had to write the book basically for free i guess almost that's right that's right i just was perpetually in debt afterwards yeah

That's incredible, really.

So he was trading both stocks and bonds.

This wasn't him just buying, going all risky investments.

He generated 8.6% annually for four decades by being quite conservative still.

Let's now take a quick break.