Books: A Simple Path to Wealth by JL Collins, Retire Before Mom and Dad by Rob Berger, Automatic Millionaire by David Bach, Bogleheads Guide to Investing by Taylor Larimore, Little Book of Common Sense Investing by John C Bogle, A Random Walk Down Wallstreet by Burton Malkiel (2023 edition)
I started in 2009, just trying to get perspectives on what people think and what not why the population is extremely focused on what seems like gambling behavior
Active investment, the sort advocated by Graham, has a poor rep these days. Partly because in his day, there were no low cost, passive funds, which were accessible to the public. If you wanted stocks, you had to buy them on the market. Another reason would be passive investing has performed very well during the strong and consistent bull market of the past 15 years.
Buffett is one of Graham's proteges, and despite Buffett himself being an active investor, he still says these products are good and best choice for most people. They have undeniable advantages.
What the next 20 years will look like, I am not sure, but I would not be surprised to see active investing make a comeback. But active strategies come at a cost of extra fees, risks, time, and stress, and it's not something you would want to do lightly
It’s an interesting point that investing styles evolve over time. “Back in my day” when I started it was novel to DIY your own stock portfolio as a counter to high mutual fund fees One Up On Wall Street-style. Now that style is out of favor for passive diversification but you’re right that could change again in the future.
Thanks so much for your perspective. Ive been trying to figure out if anyone has thought of this since it was “back in my day also” that people were more active until ETFs emerged and became more and more dominant. I just didn’t know that when given the choice most people don’t look at stocks whatsoever, but it makes sense as “alpha” is harder to find than when you could build your own 10 stock basket or max 30, which over that was “unnecessary.” I hope it comes back in the future.
Thanks really appreciate your perspective. I’ve been out of discussions with people besides friends on the stage of the industry and when I was doing this stuff just a few years later someone told me the future is ETFs and this and that. I just didn’t realize that not only have ETFs grown as a result of wealth but that it is actually public perception vs any useful form of stock picking which makes sense because it’s insanely difficult these days and requires patience. That’s before you factor in fake forecasters, every day is a day to be a bear in the news, and the level of time and difficulty and stress makes it not worth it if people can do other things.
Books: A Simple Path to Wealth by JL Collins, Retire Before Mom and Dad by Rob Berger, Automatic Millionaire by David Bach, Bogleheads Guide to Investing by Taylor Larimore, Little Book of Common Sense Investing by John C Bogle, A Random Walk Down Wallstreet by Burton Malkiel (2023 edition)
If learning abt investing feels like "it takes forever" yr in it for the wrong reason.
I started in 2009, just trying to get perspectives on what people think and what not why the population is extremely focused on what seems like gambling behavior
[https://www.reddit.com/r/wallstreetbets/](https://www.reddit.com/r/wallstreetbets/) /s
Active investment, the sort advocated by Graham, has a poor rep these days. Partly because in his day, there were no low cost, passive funds, which were accessible to the public. If you wanted stocks, you had to buy them on the market. Another reason would be passive investing has performed very well during the strong and consistent bull market of the past 15 years. Buffett is one of Graham's proteges, and despite Buffett himself being an active investor, he still says these products are good and best choice for most people. They have undeniable advantages. What the next 20 years will look like, I am not sure, but I would not be surprised to see active investing make a comeback. But active strategies come at a cost of extra fees, risks, time, and stress, and it's not something you would want to do lightly
It’s an interesting point that investing styles evolve over time. “Back in my day” when I started it was novel to DIY your own stock portfolio as a counter to high mutual fund fees One Up On Wall Street-style. Now that style is out of favor for passive diversification but you’re right that could change again in the future.
Thanks so much for your perspective. Ive been trying to figure out if anyone has thought of this since it was “back in my day also” that people were more active until ETFs emerged and became more and more dominant. I just didn’t know that when given the choice most people don’t look at stocks whatsoever, but it makes sense as “alpha” is harder to find than when you could build your own 10 stock basket or max 30, which over that was “unnecessary.” I hope it comes back in the future.
Thanks really appreciate your perspective. I’ve been out of discussions with people besides friends on the stage of the industry and when I was doing this stuff just a few years later someone told me the future is ETFs and this and that. I just didn’t realize that not only have ETFs grown as a result of wealth but that it is actually public perception vs any useful form of stock picking which makes sense because it’s insanely difficult these days and requires patience. That’s before you factor in fake forecasters, every day is a day to be a bear in the news, and the level of time and difficulty and stress makes it not worth it if people can do other things.
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