ISMS 25: Larry Swedroe – Admit Your Mistakes and Don’t Listen to Fake Experts

<p>In this episode of Investment Strategy Made Simple (ISMS), Andrew and Larry discuss two chapters of Larry’s book <em>Investment Mistakes Even Smart Investors Make and How to Avoid Them</em>. In this sixth episode, they talk about mistake number 9: Do you avoid admitting your investment mistakes? And mistake number 10: Do you pay attention to the experts?</p><p><strong>LEARNING: </strong>You’ll only learn from mistakes if you admit that you made them. Just because someone is famous and confident in what they’re saying doesn’t mean they’re experts who know what they’re saying.</p><p>&nbsp;</p><blockquote class="ql-align-center"><strong>“If you could admit a mistake when it’s the size of an acorn, it’s easier to repair than when it’s the size of a tree with deep, wide-ranging roots.”</strong></blockquote><blockquote class="ql-align-center">Larry Swedroe</blockquote><p>&nbsp;</p><p>In today’s episode, Andrew continues his discussion with Larry Swedroe, head of financial and economic research at <a href="https://buckinghamwealthpartners.com/" rel="noopener noreferrer" target="_blank">Buckingham Wealth Partners</a>. You can learn more about Larry’s Worst Investment Ever story on <a href="https://myworstinvestmentever.com/ep645-larry-swedroe-beware-of-idiosyncratic-risks/" rel="noopener noreferrer" target="_blank">Ep645: Beware of Idiosyncratic Risks</a>.</p><p>Larry deeply understands the world of academic research and investing, especially risk. Today Andrew and Larry discuss a chapter of Larry’s book <a href="https://amzn.to/3WZgNFA" rel="noopener noreferrer" target="_blank"><em>Investment Mistakes Even Smart Investors Make and How to Avoid Them</em></a>. In this sixth episode, they talk about mistake number 9: Do you avoid admitting your investment mistakes? And mistake number 10: Do you pay attention to the experts?</p><p>Missed out on previous mistakes? Check them out:</p><ul><li><a href="https://myworstinvestmentever.com/isms-8-larry-swedroe-are-you-overconfident-in-your-skills/" rel="noopener noreferrer" targ