This is perhaps my favorite Long View episode. Insightful, experienced, intelligent, informative, and yet simple and straightforward. Scott Burns is a gem.
I've watch Scott Burns over the last 30+ years. Insightful interview and lots of wisdom! Key point is that complex portfolios measured to the hundredths of a percentage is a fools errand. The Financial Service industry is predatory. Only a few companies that have the consumer's intent in mind.
So for example is a passive 2 fund portfolio enough. I'm in the UK and we now have quite a reasonable selection of lower cost index tracking funds and etfs available. We have Vanguard UK. But it appears our funds are still not quite as cheap as in the US. Is a 2 fund portfolio consisting of for example global equity Index fund plus a global bond index fund sterling Hedged enough. The global equity fund could be say 56% or 65% US depending if its developed world or all world
Used to read Mr Burns column, loved the Couch Potato Portfolio too! First time I have heard him interviewed, really enjoyed it & was one of your best imo. Thanks for your show!
I really love Christine's videos. It's bringing me back to my roots with the Vanguards funds. And though there are critics I think there are a lot of good fundamental reasons to at least think about the three bucket approach to guard against a 10-year bear market.
OHHH..How I wish he would have elaborated (or, I wish Jeff would have asked him to elaborate) at about 15:00 min. in; when the topic of buying individual bonds vs. bond fund question was posed..when Burns said that buying individual bonds, is a major opportunity to get "skinned" by a brokerage..I have ALWAYS wondered about that, everytime I've bought t-notes or t-bonds through my broker..at original dates..and sometimes the prices which I pay make absolutely NO sense to me! I wish you would devote MAJOR focus to this subject, in an upcoming bond-related segment..in the very near future!!
I worry for the young adults I knows who frankly don't want to work, but do want all the comforts and luxuries they see by the so called influencers on social media.
As your guest noted-For me it is having a California State Pension CALPERS/STRS -but you have to like your position and stay close to 30 years and be secure for life with COLA! I doubt Disneyland or Hollywood will close! I also moved to Thailand at 63 to live with my younger pretty Thai gf to keep me young!
But if you put a lump sum in S&P 500 in 2000, 10 yrs later in 2009 it would be worth less than you invested even including dividends reinvested. You would have done much better if you had a 2 fund portfolio with US equity Index plus a bond index fund, say total US bond market or US intermediate treasury index fund did well. It looks like US treasuries did a lot better than equities over that same period
Definitely an OG, so much so that he did the podcast equivalent of breaking frame at the end of the episode, lol. I think most podcasts could lose all that footer / disclosure information.
Before this interview I thought "couch potato investing" meant I was supposed to invest in literal couches and potatoes. I'd be embarrassed if I wasn't rich from Wayfair and potato futures.
I disagree with this “if you are young you can invest aggressively”. Lots of money has been lost that way and that money could have compounded for 30-40 years at 4-6% if it was invested conservatively. Humans can’t intuitively comprehend compounding. Our brains can’t handle the numbers. The trick is to invest with the knowledge of how much you will likely need at retirement and to take the minimum amount of risk required to get there. Investing aggressively and losing your first $10,000 is not a great start.
You may not be aware that certain neurological conditions (and also just aging) can cause people to mis-speak or mispronounce a word or name they know well without realizing it. What is more important is what he has to say and he is certainly is clear and knowledgeable.
@@blackfiree91 we all get those impulses. I try not to give in. And you probably noticed he got Bogle right the 2nd time. What did you think of his comments, though? I'm 67 and am going to go through the transcript, I was driving earlier and want to think more deeply about some of them. Cheers.
He was a bit vague..just offering different solutions..but all interesting and pertinent...I'd like to hear so much more!.. downsizing..not being so influenced by the relentless manufactured wants..prolonging enjoyable work if you can..not volunteering as he so rightly says that uses only your most basic skills were so interesting..as well as working on excercise keeping mobile..I need to re listen especially the investment ideas..thank you@
This is perhaps my favorite Long View episode. Insightful, experienced, intelligent, informative, and yet simple and straightforward. Scott Burns is a gem.
I've watch Scott Burns over the last 30+ years. Insightful interview and lots of wisdom! Key point is that complex portfolios measured to the hundredths of a percentage is a fools errand. The Financial Service industry is predatory. Only a few companies that have the consumer's intent in mind.
So for example is a passive 2 fund portfolio enough. I'm in the UK and we now have quite a reasonable selection of lower cost index tracking funds and etfs available. We have Vanguard UK. But it appears our funds are still not quite as cheap as in the US. Is a 2 fund portfolio consisting of for example global equity Index fund plus a global bond index fund sterling Hedged enough. The global equity fund could be say 56% or 65% US depending if its developed world or all world
Used to read Mr Burns column, loved the Couch Potato Portfolio too! First time I have heard him interviewed, really enjoyed it & was one of your best imo. Thanks for your show!
Mr Burns explains why most people need to simplify, and he expands on his simple formula if people have discipline. Very good!
I really love Christine's videos. It's bringing me back to my roots with the Vanguards funds. And though there are critics I think there are a lot of good fundamental reasons to at least think about the three bucket approach to guard against a 10-year bear market.
OHHH..How I wish he would have elaborated (or, I wish Jeff would have asked him to elaborate) at about 15:00 min. in; when the topic of buying individual bonds vs. bond fund question was posed..when Burns said that buying individual bonds, is a major opportunity to get "skinned" by a brokerage..I have ALWAYS wondered about that, everytime I've bought t-notes or t-bonds through my broker..at original dates..and sometimes the prices which I pay make absolutely NO sense to me! I wish you would devote MAJOR focus to this subject, in an upcoming bond-related segment..in the very near future!!
This was a really good podcast
I worry for the young adults I knows who frankly don't want to work, but do want all the comforts and luxuries they see by the so called influencers on social media.
As your guest noted-For me it is having a California State Pension CALPERS/STRS -but you have to like your position and stay close to 30 years and be secure for life with COLA! I doubt Disneyland or Hollywood will close! I also moved to Thailand at 63 to live with my younger pretty Thai gf to keep me young!
But if you put a lump sum in S&P 500 in 2000, 10 yrs later in 2009 it would be worth less than you invested even including dividends reinvested. You would have done much better if you had a 2 fund portfolio with US equity Index plus a bond index fund, say total US bond market or US intermediate treasury index fund did well. It looks like US treasuries did a lot better than equities over that same period
I had zero bonds throughout my career. 100% stocks !
It's wonderful to hear from an OG on this (and as a fan of the 6502 I loved the Apple ][ stories.) Thank you!
Definitely an OG, so much so that he did the podcast equivalent of breaking frame at the end of the episode, lol. I think most podcasts could lose all that footer / disclosure information.
Just can’t get rid of my 3 boys Lego collection . Their little hands spent so many hours building and having fun .
Maybe you can find some boys that would like to take over those legos, so they can experience the joy your boys had.
Before this interview I thought "couch potato investing" meant I was supposed to invest in literal couches and potatoes. I'd be embarrassed if I wasn't rich from Wayfair and potato futures.
👌👌👌👌👌
I disagree with this “if you are young you can invest aggressively”. Lots of money has been lost that way and that money could have compounded for 30-40 years at 4-6% if it was invested conservatively. Humans can’t intuitively comprehend compounding. Our brains can’t handle the numbers. The trick is to invest with the knowledge of how much you will likely need at retirement and to take the minimum amount of risk required to get there. Investing aggressively and losing your first $10,000 is not a great start.
How did he pronounce bogle wrong. Like. Cmon. Embarrassing
You may not be aware that certain neurological conditions (and also just aging) can cause people to mis-speak or mispronounce a word or name they know well without realizing it. What is more important is what he has to say and he is certainly is clear and knowledgeable.
@@MsTubbytubei’m just a troll, don’t take life so seriously. I’m sure it was an innocent mistake. But i still like to poke people sarcastically.
@@blackfiree91 we all get those impulses. I try not to give in. And you probably noticed he got Bogle right the 2nd time.
What did you think of his comments, though? I'm 67 and am going to go through the transcript, I was driving earlier and want to think more deeply about some of them. Cheers.
He was a bit vague..just offering different solutions..but all interesting and pertinent...I'd like to hear so much more!.. downsizing..not being so influenced by the relentless manufactured wants..prolonging enjoyable work if you can..not volunteering as he so rightly says that uses only your most basic skills were so interesting..as well as working on excercise keeping mobile..I need to re listen especially the investment ideas..thank you@
Exercise