I have Conceded with my own Stock picking and Trading after Thousands of Hours wasted on figuring it all out. There is simply no free lunch. Everything i found could be explained with risk factors at the end and a potential small alpha was always insignificant with trading costs and additional taxes to pay. I feel free now that i index. And good about it at the same time because i know that i gave it my best. The only reason i managed to figure it all out was because i did ALOT of backtesting using my own software. so i am not suprised that most people will never truly get it
I was deeply pleased listening to this discussion. I appreciate Charles' wisdom and the nuances in his examples and arguments. Thanks so much for this!
This was a great podcast! I do wish they also had more debates with guests who don't share their point of view of only index investing. They interviewed Professor Brad Cornell in episode 151, but I don’t think there are many debates in their podcast series with people who don't share their philosophy that index investing is the best way to invest. I really hope they haven't adopted a "if they don't index invest, they're not smart enough to be on the podcast" mentality. Would be really cool if they interviewed Dr. Aswath Damodaran. Anyway, well done!
