The Compound Show with Downtown Josh Brown

osh here - on the 20th anniversary of Simple Wealth, Inevitable Wealth, I discuss why it's the book that changed the entire trajectory of my career and laid the groundwork for my investing philosophy.Many books and authors have been influential and important to my understanding about how the market works. Simple Wealth, however, was the first book that made me want to dedicate my life to helping others invest and make sure they don't fall prey to all the wrong information and advice they're being assaulted with on a regular basis. Nick Murray has taught thousands of financial advisors about the inherent dignity of our careers and the absolutely necessity of our work for the improvement of society. Building, managing and living with a portfolio's ups and downs can be simple, but that doesn't mean it's going to be easy. Our job, according to Nick, is to continuously remind people why they must bear risk and endure a lifetime's worth of volatility if they're going to truly succeed in the markets and in life. Michael makes a point about finding the right book at the right time in our lives, and for me, finding Nick's writing ten years ago was exactly what I needed. Other books mentioned include Jack Schwager's Market Wizards and Ben Graham's The Intelligent Investor. Nick's book is only available at http://nickmurray.com/Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here: http://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer:https://thereformedbroker.com/terms-and-conditions/ Subscribe to the mini podcast on iTunes or Spotify Enable our Alexa skill here - "Alexa, play the Compound show!" See acast.com/privacy for privacy and opt-out information.

“Rebalancing is getting a little overrated. It is nowhere near as impactful on returns as human and digital advisors advertise. I also feel like human advisors probably rebalance more than is truly necessary.”Peter Lazaroff who is the co-CIO of Plancorp and BrightPlan. Peter blogs at PeterLazaroff.com and most importantly for the purposes of this discussion is the author of the recently published book Making Money Simple: The Complete Guide to Getting Your Financial House in Order and Keeping It That Way Forever.We recently published a two-part Q&A with Peter on Abnormal Returns: part one and part two.You can read more about Peter at his blog: https://peterlazaroff.com/blogEnable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here: https://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer if you seriously need this spelled out for you. https://thereformedbroker.com/terms-and-conditions/ See acast.com/privacy for privacy and opt-out information.

Are US stocks destined to continue crushing international stocks? How about tech stocks vs everything else? Sure seems that way. But the recency bias is real! Michael Batnick, Ben Carlson and Downtown Josh Brown discuss!Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here:http://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer:https://thereformedbroker.com/terms-and-conditions/ Subscribe to the mini podcast on iTunes or SpotifyEnable our Alexa skill here - "Alexa, play the Compound show!" See acast.com/privacy for privacy and opt-out information.

“Many of us look back nostalgically on our childhood memories when life was simpler and allow the feeling of familiarity to warm our souls. That’s ok. But, save your memory of investment traditions for small loses where lessons were learned, stay educated about the changing landscape, and participate in the positive evolution of the industry.”Justin Mallory has a deep interest and background in financial planning and blogs at The Real Wealth Farmer. Tadas got Justin on Skype to talk about a recent post of his entitled “Investing Stranger Things” where he talks about how time, luck and nostalgia affects how we invest.You can read more about Justin’s take on how nostalgia affects our investments at his blog The Real Wealth Farmer:https://therealwealthfarmer.com/2019/04/29/investing-stranger-things/Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here: https://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer if you seriously need this spelled out for you. https://thereformedbroker.com/terms-and-conditions/ See acast.com/privacy for privacy and opt-out information.

Josh here - my friend Jeff Macke is an investor and an expert in the retailing giants Amazon, Target, Walmart and Sears. Jeff's dad ran Target for Dayton-Hudson in the 1970's and he knows more on this topic than anyone I can think of. Today in 1962, Target was born in Minneapolis, Minnesota. Jeff and I look back at what made the 2,000-store chain great and what the future brings as the retail giants take the fight back to Jeff Bezos. Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here: https://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer if you seriously need this spelled out for you. https://thereformedbroker.com/terms-and-conditions/ See acast.com/privacy for privacy and opt-out information.

Barry Ritholtz wonders why everyone is still so surprised every time the stock market has a correction.The psychology surrounding stock-market declines and recoveries is fascinating. Anytime markets retreat even a little bit, the noise surrounding the event begins to swell. Given how frequently markets jink and turn, you might expect people would be used to the occasional plunge by now.Full transcript of Barry's rap on the subject available here: https://ritholtz.com/2019/04/corrections-declines/You can read more about Brendan’s take on behavioral coaching at his blog Your Brain on Stocks:https://yourbrainonstocks.com/i-need-behavioral-coaching-said-no-one-ever/Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here: https://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer if you seriously need this spelled out for you. https://thereformedbroker.com/terms-and-conditions/ See acast.com/privacy for privacy and opt-out information.

“But I want to dispel an implicit myth about behavioral coaching: it is not predicated upon its recipient being crazy, stupid, or reckless. Nor is it predicated upon its purveyor being a genius, stoic, or super-human. It is predicated upon both parties being human.”Brendan Mullooly, who blogs at Your Brain on Stocks, is an investment advisor based in New Jersey for Mullooly Asset Management. Tadas got Brendan on the phone to talk about a recent post of his entitled “I Need Behavioral Coaching, Said No One, Ever” where he talks about the value of behavioral coaching and why we all need it..You can read more about Brendan’s take on behavioral coaching at his blog Your Brain on Stocks:https://yourbrainonstocks.com/i-need-behavioral-coaching-said-no-one-ever/Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here: https://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer if you seriously need this spelled out for you. https://thereformedbroker.com/terms-and-conditions/ See acast.com/privacy for privacy and opt-out information.

Sean Brown is the CEO of YCharts, one of the hottest investment research platforms on the web. Michael Batnick and Ben Carlson use YCharts for research projects all the time, whether they're answering a client question, creating a blog post or seeking to prove or disprove an idea about markets, the economy, investing or portfolio construction. Sean came by to discuss the various ways investors and financial advisors use YCharts for their daily work and research. Sean is surprised by how little time financial advisors seem to spend on their investment management-related efforts relative to things like prospecting, relationship building, etc. According to this survey of investors posted by Michael Kitces, advisors are spending an average of 10% of their time on investment management, which Sean believes is a big disconnect considering how important results are to the end client. Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here: http://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer:https://thereformedbroker.com/terms-and-conditions/ Subscribe to the mini podcast on iTunes or Spotify Enable our Alexa skill here - "Alexa, play the Compound show!" See acast.com/privacy for privacy and opt-out information.

“Personal finance can’t be taught in one day or period. It’s a lifetime journey. A full week, though not long enough, gives kids a fighting chance and sparks their interest for further independent study.”Tony Isola an investment advisor representative at Ritholtz Wealth Management, who blogs at A Teachable Moment recently about his experience teaching a personal finance mini-course to high schoolers over the course of a week. Tadas Viskanta got him on the phone to talk about what he taught the kids and asks why we, as a society, don’t demand our kids be financially literate..You can read more about Tony’s experience at his blog, A Teachable Moment.https://tonyisola.com/2019/04/what-happened-when-we-spent-a-week-teaching-h-s-kids-about-money/Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here: https://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer if you seriously need this spelled out for you. https://thereformedbroker.com/terms-and-conditions/ See acast.com/privacy for privacy and opt-out information.

“But the truth is, singles should be planning “for one,” because they need to plan, period. When people don’t take ownership of needing to reach financial independence on their own, they are more likely to put off their goals entirely. ”Douglas Boneparth is the President of Bone Fide Wealth in New York City. Tadas Viskanta got Douglas on the phone to talk about a recent post of his entitled “Planning to be Single” where he talks about the similarities (and differences) in financial planning for singles vs. couples.You can read more about Douglas’ take at his blog Bone Fide Wealth: https://bonefidewealth.com/blog/planning-to-be-single/Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here: https://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer if you seriously need this spelled out for you.https://thereformedbroker.com/terms-and-conditions/ See acast.com/privacy for privacy and opt-out information.

Two dueling versions of the looming retirement crisis that affects millennials, Gen Xers and Boomers in various ways. Mary Childs wrote that the shortfall is actually worse than we all think. For example:The average saver puts 6.8% of their annual income into their workplace retirement plan...Boomers are saving 8.5% of their annual income, while Gen X workers save 7.4%. Millennials are saving just 5.7% because many of them are more focused on paying down debt, starting a family and buying their first home. Okay, so far this makes sense.But according to the article, "Two-thirds still factor in income from Social Security, in addition to what they’re saving for retirement personally, the survey found. But 42% don’t even believe those benefits will be available to them when the time comes. What’s worse, 27% of American workers have already borrowed against their workplace retirement plan, and 27% have accepted penalties to pull money out."Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here:http://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer:https://thereformedbroker.com/terms-and-conditions/ Subscribe to the mini podcast on iTunes or SpotifyEnable our Alexa skill here - "Alexa, play the Compound show!" See acast.com/privacy for privacy and opt-out information.

Josh shouts out some of the elite-level activities taking place with Ritholtz Wealth, including some praise for trading, admin and the young financial advisors who are making their mark on the firm and its clientele.Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here:http://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer:https://thereformedbroker.com/terms-and-conditions/ Subscribe to the mini podcast on iTunes or SpotifyEnable our Alexa skill here - "Alexa, play the Compound show!" See acast.com/privacy for privacy and opt-out information.

"Retirement should be one of the most fun times of your life. But, generally, that’s only possible if you’re comfortable spending your life savings."Ashby Daniels, a retirement planner at Shorebridge Wealth Management, who blogs at Retirement Field Guide did a post about why it can be really difficult for retirees to change gears from saving for retirement to spending in retirement. Tadas Viskanta got him on the phone to talk about why this is the case and what planners and retirees can do to make the transition a little easier.You can read more about Ashby’s take on spending in retirement at his blog, Retirement Field Guide https://retirementfieldguide.com/spending-in-retirement/Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here: https://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer if you seriously need this spelled out for you. https://thereformedbroker.com/terms-and-conditions/ See acast.com/privacy for privacy and opt-out information.

Ritholtz Wealth Management's Blair duQuesnay caught up with Brinker Capital's Daniel Crosby to talk about how central behavioral investing has become to the financial advice proposition. It sits at the center of the value-add that advisors are bringing to the table in the modern era.Will every financial firm someday have a CBO - Chief Behavioral Officer?Read Blair each week at her blog, The Belle Curve!http://blairbellecurve.com/Follow Daniel Crosby on Twitter:https://twitter.com/danielcrosbyEnable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here:http://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer:https://thereformedbroker.com/terms-and-conditions/ Subscribe to the mini podcast on iTunes or SpotifyEnable our Alexa skill here - "Alexa, play the Compound show!" See acast.com/privacy for privacy and opt-out information.

Today at the Compound - an all new episode of Talk Your Book with Downtown Josh Brown and Barry Ritholtz talking to Andrew Thrasher, a technical analyst and portfolio manager at a large Midwestern RIA called the Financial Enhancement Group. Andrew's work look at the structural behavior of prices and volatility in the stock and bond market. In this discussion, Josh and Barry quiz him on the way his firm explains their investment philosophy to clients, the difficulty of marrying technical analysis with fundamental analysis and tons of other stuff. You can find more of Andrew's writing here:http://www.athrasher.com/ Enable our Alexa skill here - "Alexa, play the Compound show!"https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZTalk to us about your portfolio or financial plan here:http://ritholtzwealth.com/Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer:https://thereformedbroker.com/terms-and-conditions/ Subscribe to the mini podcast on iTunes or SpotifyEnable our Alexa skill here - "Alexa, play the Compound show!" See acast.com/privacy for privacy and opt-out information.