Spencer Jakab
speaker
981 appearances
14 recordings
1 series
first heard Jul 2017
last heard Jun 2021
Spencer Jakab’s voice in public audio — every appearance, attributed to the second.
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Appearances
I think one thing that they'll learn is what to expect.
Even if you've been in the market for five years at this point and not five months, I think most of what you've seen, with the exception of when the pandemic was declared and you had a real swoon, has been an almost uninterrupted bull market, which is not the experience all the time.
And it's easy to be an investor at a time like this.
It's difficult to be an investor when things are choppy or sideways or very scary.
And I think that you'll learn a lot from the challenge in terms of how to think about that and how to cope with it and how to stick with stocks and really get that long-term compounding of wealth.
I think they'll get a lot out of it.
For example, there's an exercise in the challenge.
So we wrote it in a way that is accessible to anyone.
You don't really need to know anything about investing.
One of the challenges, though, recreates, for example, a challenge that was given to a bunch of people, students and graduate students who are seasoned in finance.
And they did very poorly at it.
And it was really an exercise in how much risk to take.
People have a really poor idea of that.
And so we have a fun game where you can go, you can play it again and again, get your spouse or your friends to play it as well.
That really teaches a fascinating lesson in people taking too little or too much risk in the market.
Great.
So what are the kinds of challenges will people who sign up face?
One of the first challenges will ask people what kind of returns, let's say you inherited a lump sum from an uncle and her aunt at various dates and time.
We tell you what was going on.
And there were times when everything was going swimmingly.
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