He Studied Every Bear Market Since 1929 | Ben Carlson on How the Worst Starting Point Still Made 8%

About this episode

Ben Carlson discusses his book 'Risk and Reward' and shares insights on investing through market history.

Ben Carlson joins Excess Returns to discuss his new book Risk and Reward and the biggest lessons investors can learn from market history. We cover how to think about risk, inflation, market timing, bear markets, lost decades, diversification, compounding and why surviving volatility is the key to building long-term wealth. Ben's Book https://amzn.to/4dFHsQz Ben Carlson on X https://x.com/awealthofcs Ben's Blog https://awealthofcommonsense.com/ Main topics covered: Why risk is hard to define and always involves trade-offs How vivid risks like sharks and headlines distort investor decision-making Why doing nothing can be one of the hardest parts of investing How inflation should be viewed through personal finance, human capital and long-term investing Why stocks can be an inflation hedge even if they struggle during inflation spikes Why waiting for the market coast to clear often fails What the world’s worst market timer teaches about saving and staying invested How loss aversion shapes investor behavior What the Great Depression, bear markets and 30-year returns teach about long-term investing Why there is no perfect portfolio and the best strategy is one you can actually stick…

People in this episode

Host: Excess Returns

Guest: Ben Carlson

Topics covered

• risk and reward
• market history
• investor behavior
• inflation
• bear markets
• long-term investing

Keywords

• bear markets
• inflation
• market timing
• diversification
• compounding
• long-term wealth

Mentioned in this episode

Organizations: A Wealth of Common Sense

Books & works: Risk and Reward

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