Bill Bernstein on Financial History, Star Managers & The 4 Pillars of Investing

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Today’s returning guest is Dr. William Bernstein, a neurologist turned investment advisor. Bill’s an author of several books and just released an updated edition of The Four Pillars of Investing, which came out over 20 years ago.
In today’s episode, Dr. Bernstein shares two key updates since the first edition. Then we walk through some his best quotes and tie them to both timeless topics and current events like the AI craze and the media’s love for star managers.
To see links or read the transcript of the episode, visit us at:
mebfaber.com/2023/07/19/bill-...
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[@kambiz0esteki]

amazing interview
Thank you

[@scottgorham4859]

Dr. Bill Bernstein is the man!!! Listen up all you newbies! Thanks, Meb!

[@Bonez1999]

What a great show, thanks Meb & Bill... The man is a wealth of knowledge

[@jorgeferreiro9783]

The four pillars of investing:
1. Make an asset allocation plan and stick to it
2. Use low cost index funds to populate your asset allocation
3. Avoid performance chasing like the plague and stick to your asset allocation
4. Avoid financial advisors and gurus (W Bernstein included) and enjoy your life

[@togoni]

Rule 5. Stay away from Cambria Funds.

[@jamesmorris913]

Dr. Bernstien, IMHO; is one of the most compelling people, along with the late Jack Bogle, Warren Buffett and Charlie Munger, on the topic (and explanation) of how to invest successfully! But..at around three-quarters through this video, he said that a retiree could probably safely withdraw 3-4% of a portfolio, without substantial risk of exhausting it..I only wish he would said what type of stock/bond mixture (percentages) he believes would be optimal, to support that indefinite withdraw rate.

[@george6977]

👍

[@togoni]

Mab, tell us about your successful TAIL Fund and its performance. How do you mange to create a fund that only goes DOWN?