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What percentage of MD's curate/track/save/invest at the rate as your typical WCIer?

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  • #31
    Originally posted by Tangler View Post
    I suppose. Disappointing, because i do think he really wants to help people. He was/is a realestate person and i think he is arrogant & ignorant regarding investing.

    Sure, he gets $ from endorsing active funds but i think he actually believes they can consistently beat the total market index and so he recommends them.

    Too bad
    Why don't you buy a small amount of BFOCX in your retirement accounts along side your index funds and see what happens over the next 1, 5, 10 years or at least hold while tech remains an outperforming sector? Just a small amount 5% or less if you are uncomfortable outside of indexing. My suggestion would be after the next correction of 10% or more. More preferably after the next demand side recession.

    That's how I objectively figured out what actually objectively outperforms based on my own hard data, not simply believing the opinion of anyone else. Any opinion you get is going to be loaded with undisclosed and even subconscious subjective bias. If you haven't noticed, I don't really care what anybody says without presenting data, whether it is Dave, John C. Wall Street gurus, or anyone else. Numbers don't lie and I can therefore make sure I'm not lying to myself. If you're not interested in the performance in the data, opting instead for the diversification of a VTSAX, that's fine too.

    Of course some of us beat total market with our portfolio's, but we are willing to give up diversification to do that. That is a trade-off. It's likely because we're multiple fold FI whereas for one who is not FI or at just 1x FI a market downturn can cause difficulty that wouldn't be a significant issue for us. If one's investments are heavily diversified outside of the markets that also offsets the trade-off. Hence individual circumstances are so relevant. Investing with a NW of $5M is very different than doing so with $20M or $50M. I'm finding here therein lies the dichotomy of thought process and risk tolerance.

    Put another way, I find that winning the game gives you more flexibility when it comes to risk/reward. I don't find many who have won quitting since you can invest with a safe cushion. Buffet and Bezos could have quit working/growing businesses years ago. Forget about active funds, look how much single stock risk Bezos is taking. With a 99.999% loss he would still be FI.

    Concern over a 5% stake in a strong sector with a proven long term record purchased after a correction is probably too much risk intolerance, unless you think it's not a risk tolerance issue rather the fund/sector will just take a major U turn as soon as Tangler hits the buy button. IDK, maybe there's a conspiracy that the whole world will hit the sell button once I hit the buy button, or so it feels that way sometimes preventing us from taking reasonable, calculated risk for any reward beyond 12-15% long term annualized.

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    • #32
      Originally posted by CordMcNally View Post

      Physicians are like the general public in the sense that most people think that good investing needs to be complicated. After all, that's what many advisors say (and do). The advice has been out there but it just seems too simple for many people.
      Yes, but that is true of both today and 20 years ago.

      The internet has made all information easier to get, both good and bad.

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      • #33
        Originally posted by Peds View Post

        i think its just making money....
        I hope not. I honestly don’t think he is a bad person.

        He does a lot to help a lot of people.

        I think he is probably just overconfident = arrogant, ignorant, and incorrect with his investing recommendations.

        Claude Bernard once said: “It is what we think we know already that often keeps us from learning “

        Dave just thinks he knows everything & he believes active beats index.

        Also, wanting to make money does not equal wanting to rip people off.

        Example: WCI and POF have TONs of people who are paid advertisers. They make plenty. Does that mean they would willingly have an advertisement for a shady character? IMO No way.

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        • #34
          Originally posted by Tangler View Post
          I suppose. Disappointing, because i do think he really wants to help people. He was/is a realestate person and i think he is arrogant & ignorant regarding investing.

          Sure, he gets $ from endorsing active funds but i think he actually believes they can consistently beat the total market index and so he recommends them.

          Too bad
          i used to think he did.

          less so now.

          the reporting from inside his biz makes it sound like a cult and his Xmas party was absolutely unconscionable.

          that said, to be fair, if you follow his teachings you will definitely be fine. not as wealthy as you could be but way better than most.

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