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One of the greatest problems preventing investors from achieving their financial goals is that, when it comes to judging the performance of an investment strategy, they believe that three years is a long time, five years is a very long time and 10 years is an eternity. Even supposedly more sophisticated institutional investors, those who employ highly paid consultants, typically hire and fire managers based on the last three years’ performance. Yet, financial economists know that when it comes to risk assets 10 years is likely noise. The webinar explains why it is critical for investors to understand this and have the discipline to stay the course.
Learning Objectives:
- Learn that all risk assets go through long periods of poor performance. This must be the case or there would be no risk for long term investors.
- Learn how diversification across unique sources of risk reduces the risk of poor outcomes/negative premiums.
- Learn that discipline, the necessary ingredient for investment success, requires ignoring tracking variance that comes with diversification.
- Learn how the behavioral errors known as recency and relativism lead to loss of discipline and poor outcomes.
- Learn not to make the mistake of “resulting”, judging the quality of a decision by the outcome/results.
Larry Swedroe
Buckingham Strategic Wealth
Chief Research Officer for the Buckingham Family of Financial Services
lswedroe@bamadvisor.com
(314) 743-2214
Since joining the firm in 1996, Larry Swedroe has spent his time, talent, and energy educating investors on the benefits of evidence-based investing with enthusiasm few can match.
Larry was among the first authors to publish a book that explained the science of investing in layman’s terms, “The Only Guide to a Winning Investment Strategy You’ll Ever Need.” He has since authored seven more books: “What Wall Street Doesn’t Want You to Know” (2001), “Rational Investing in Irrational Times” (2002), “The Successful Investor Today” (2003), “Wise Investing Made Simple” (2007), “Wise Investing Made Simpler” (2010), “The Quest for Alpha” (2011) and “Think, Act, and Invest Like Warren Buffett” (2012).
He has also co-authored eight books about investing. His latest work, “Your Complete Guide to a Successful and Secure Retirement,” was co-authored with Kevin Grogan and published in January 2019.
In his role as chief research officer and as a member of the firm’s Investment Policy Committee and Board of Directors, Larry regularly reviews the findings published in dozens of peer-reviewed financial journals, evaluates the outcomes, and uses the result to inform the firm’s formal investment strategy recommendations. He has had his articles published in the Journal of Accountancy, Journal of Investing, AAII Journal, Personal Financial Planning Monthly, and Journal of Indexing.
Larry’s dedication to helping others has made him a sought-after national speaker. He has made appearances on national television shows airing on NBC, CNBC, CNN, and Bloomberg Personal Finance. Larry is a prolific writer, regularly contributing to multiple outlets, including Advisor Perspectives, The Evidence-Based Investor, and Alpha Architect.
Before joining Buckingham, Larry was vice chairman of Prudential Home Mortgage. He has held positions at Citicorp as senior vice president and regional treasurer, responsible for treasury, foreign exchange, and investment banking activities, including risk management strategies.
Larry holds an MBA in finance and investment from New York University and a bachelor’s degree in finance from Baruch College in New York.
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