The Truth About Market Timing, Crashes, and Long-Term Investing with Ben Carlson

Don't be surprised by what happens. Just don't be surprised that you are surprised. I think that's the point of studying history is that, things can go way lower than you think possible, and things can also go way higher than you think possible because human emotions are the thing that, like, pushes it. So this decade is a great case in point. Right? Who would have expected a pandemic would have totally, like, shut the economy off, like, two months? Right? Sure. Or that, like, six months later, the stock market would be back to all time highs, and then we'd get forty year high inflation. And all this stuff that's happened, and despite all that stuff, the stock market is still having a pretty good decade. You're tuned in you're tuned in to the investing for beginners podcast investing for beginners podcast. The show for the long term investor. We cut through the noise to focus on what works, compounding, discipline, and the conviction to buy wonderful businesses and stick with them. Your path to financial freedom start now. Welcome to the investing for beginners podcast. Have another fun episode for you today. One of the OGs of our industry. It's great to finally talk and meet with you, Ben. So we got Ben Carlson, CFA. He's the director of institutional asset management at RedHills Wealth Management. Thanks for joining us today, Ben. Glad to be here. You have just finished up writing a really cool book. By the time this goes live, it will be out there and available. So it's called risk and reward. The first question I have for you is, so what's the secret to investing? Because you've been doing this for a long time. So please just give us the secret. Give us the magic formula. Just between us? No one else is listening? Okay. The funny thing is I do think a lot of people get into the game and especially people I work in the wealth management industry, and I think people they know, like, hey. Listen. I know that there's no, like, secret path to overnight success, but I think a lot of people who have a decent amount of money go. But, seriously, tell me. What is it? Right? Like, just just between you and me, what is it? There's gotta be, like, this holy grail. And I guess just three years and years of studying different strategies and dealing with different portfolio managers and funds, and, unfortunately, there's there's just, like, no easy route. Unless you win a lottery, hit the lottery right, and you you put your money into something, it shoots to the moon. And we see a lot of those stories these days, but, unfortunately, you don't see the the other ones of the people who tried to do that, and then they lost all their money. Alright. They went broke. And so, my secret is that there there really is no secret. That's kind …