The Missing Billionaires with Victor Haghani

"We cannot get return without taking risks, but we can get risk without getting expected returns. So, you know, that's really the master insight of modern portfolio theory." - Victor Haghani -------------------------------------------------------------------   I had the pleasure of speaking with Victor Haghani, the insightful author of "The Missing Billionaires."  Our conversation was a lively journey through the concepts of investment strategies and personal tales.  Some of the central themes discussed in the conversation included:  The concept of "missing billionaires" and why so few families have been able to maintain and grow their wealth over generations since 1900. The challenges of active investing and beating the market returns. The importance of balancing risk and return in investment decisions. Approaches like active index investing that aim to capture the benefits of both active and passive investing. Factors that contributed to many wealthy families losing their fortunes over time like inappropriate risk levels and inconsistent risk/spending decisions.  P.S. Don't forget to play 2 Truths and a Lie - bit.ly/2t1l_victorhaghani -------------------------------------------------------------------     Here are the show notes:    Personal growth, business coaching, and new book release. (0:37) Investing, wealth management, and generational wealth. (6:45) Investing, unicycling, and underwater basket weaving. (12:35) The challenges of maintaining wealth over time. (22:20) Financial decisions of billionaires and their impact on wealth. (26:16) Investment strategies and risk management. (32:41) Investing strategies and risk management. (37:38) Investing in crypto assets with a focus on predictable cash flows. (45:46) Investing in stocks and Bitcoin with a focus on free markets and cash flows. (53:32) Personal finance and investing with a focus on optimism and simple ideas. (59:46) -------------------------------------------------------------------   “I Will tell You How to Become Rich… Be Fearful When Others Are Greedy. Be Greedy When Others are Fearful.” (Warren Buffett) -------------------------------------------------------------------     If you like what you see, please subscribe to the show: bit.ly/subscribetotheshow Learn more about your ad choices. Visit megaphone.fm/adchoices