This program explores the mindset of many investors who trick themselves into thinking they are brilliant and can do no wrong. If on the odd occasion something does go wrong, we are very good at blaming someone or something else for our losses. If only the Fed would get out of the way. Or if the Chinese would stop manipulating their financial markets, I would be making a fortune.
In the second segment, I spend time giving some fatherly advice, since this program was broadcast on Father’s Day. And in segment three, I provide some humility with the thought that people should be more willing to say three simple words… I don’t know. Too often people rely on the prognostications of people who sound very authoritative and convincing, but in reality they don’t have a clue.
Finally in part four, this short segment talks about focusing on income instead of wealth. Do all the television and radio commercials talking about, what’s your number, have it wrong?