Bob Seawright: 'There Is No Such Thing as a Passive Investor'

<p>Our guest this week is Bob Seawright. Bob is chief investment and information officer at Madison Avenue Securities, a Registered Investment Advisorand broker/dealer based in San Diego, California. Bob has received a number of accolades through the years but is perhaps best known for his popular newsletter, "The Better Letter," where he writes about a wide range of topics, including human behavior, decision-making, and investing. Before coming to the finance industry, Bob was a practicing lawyer. He later joined Merrill Lynch, where he worked as a financial advisor until joining Madison in 2010. Bob earned his bachelor's degree from the State University of New York at Fredonia, his J.D. from Duke University, and is a CFA charterholder.</p><p> </p><p><strong>Background</strong></p><p><a href="https://rpseawright.wordpress.com/about/" target="_blank">Bio</a></p><p><a href="https://betterletter.substack.com/" target="_blank">The Better Letter</a></p><p><a href="https://www.amazon.com/How-Invest-My-Money-Finance/dp/0857198084/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1635778406&sr=1-1" target="_blank"><i>How I Invest My Money: Finance Experts Reveal How They Save, Spend, and Invest</i></a><i>, </i>by Joshua Brown and Brian Portnoy</p><p><a href="https://www.amazon.com/Ubiquity-Catastrophes-Happen-Mark-Buchanan/dp/0609809989/ref=sr_1_1?dchild=1&keywords=Ubiquity&qid=1635778555&qsid=133-6579969-6657118&s=books&sr=1-1&sres=0609809989%2C0297643762%2C1979066426%2C1949986195%2CB07SC52WNJ%2C1977088368%2C0981528120%2C9462702896%2C1710118911%2CB09DMR9BW2%2C1433174502%2CB01M32PAN4%2C1250236363%2CB08XJJGSZ6%2C0321125215%2CB08S2VSZBJ" target="_blank"><i>Ubiquity: Why Catastrophes Happen</i></a><i>, </i>by Mark Buchanan</p><p>Terrance Odean: “<a href="https://www.forbes.com/forbes/2010/0628/investment-guide-behaviorial-finance-odean-average-investor-own-enemy.html?sh=f3f8ae0408a0" target="_blank">The Average Investor Is His Own Worst Enemy</a>,” Forbes.com, June 10, 2010.</p><p><strong>Confirmation Bias and Addition by Subtractio