Episode 17 of the Cordant Wealth Partners’ Podcast Series
Get to know the CEO and Director of Investments of Cordant Wealth Partners!
Scott sits down with Isaac Presley to discuss managing the level of risk to take in order to achieve the goals that are trying to be achieved, the common mistakes they see customers making, and much more.
Listen in and see if you recognize any of these scenarios!
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- Isaac provides a fascinating overview of his background, his education, and his career track to Cordant Wealth.
- Isaac shares a couple of his life epiphanies.
- Scott and Isaac discuss the benefits of fee-only independent advisors for investors, as well as what’s appealing about fee-only independent advisors from the advisor perspective.
- Since the world changes so rapidly, there will always be something new to look at and research, but if you have a plan in place it will help filter out a lot of the noise and keep you focused.
- Having no plan is just as bad as having a bad one.
- Taking on too much risk based on past performance is a big mistake.
- Since risk changes over the course of time, it is difficult to evaluate your own risk.
- The “variable risk preference bias” is a person’s instinct to change how much risk they’re taking on, based on what the markets have done lately.
- As you age that bias towards changing your risk actually increases, research shows, and there are associated consequences.
- The “sequence of return events” says the order of your returns matter, and Isaac provides more insight as to its impact on your portfolio.
- There is both wisdom and discipline in figuring out what you want to optimize for, writing out your investment plan and reviewing it periodically.
- Markets are cyclical, so it’s helpful to look beyond the recent past.
- Scott and Isaac talk about red and yellow flags when looking at a new investment portfolio.
- The best way to capture what you’re after is a matter of picking investments that are going to work over time and maximize your odds of success, and not going all in for something that’s worked recently and then switching to something else, back and forth.
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The Geometry of Wealth: How To Shape A Life Of Money And Meaning, by Brian Portnoy