What We Need To Know About The NEXT GFC!

What We Need To Know About The Next GFC
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MUST READS FOR VALUE INVESTORS - I don’t want to make a course because these books are better than any course. I prefer to listen to them through audible. Here are the links to the books and audiobooks.

Great For Beginners

Invested - Danielle Town and Phil Town (Great introduction to value investing)
https://amzn.to/312SBWv

Rich Dad, Poor Dad - Robert Kiyosaki (Mindset and Motivation)
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The Barefoot Investor - Scott Pape (Day to Day Financial Planning)
https://amzn.to/2QioPLl

One Up On Wall Street - Peter Lynch (Full of Gold)
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Great For Getting Deeper into Investing.

The Little Book of Common Sense Investing - Jack C. Bogle (Index Strategy)
https://amzn.to/3sc1Wau

The Little Book The STILL Beats the Market - Joel Greenblatt (Simple Strategy)
https://amzn.to/3f3xtI3

The Acquirer’s Multiple - Tobias E Carlisle (Simple Strategy)
https://amzn.to/3scoc43

The Dhandho Investor - Mohnish Pabrai (My Favorite Investor)
https://amzn.to/3lEyZS9

100 Baggers - Christopher Mayer (My Favorite Book)
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The Education of a Value Investor - Guy Spier (Advanced Mindset for Serious Investors)
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Hi, today I want to take a look at the last GFC back in 2008 and 2009 and see what we should have learnt from then.
That must have been an emotional rollercoaster.

Strategies

The New York environment messed up the clear thinking of many money managers during the GFC. Herd mentality is strongest when you are in a herd.

Guy Spier moved to Zurich, Switzerland after the GFC to get away from the herd thinking of New York.
Warren Buffett was isolated, in his Omaha, Nebraska Headquarters.
Chuck Akre had set up base in an old pub, in a small town in Virginia.

New York, London, Tokyo - These are not the places you want to be in a GFC event. You want to be based far away from other people that have anything to do with the investments you are in. Your physical environment is critical in your thinking.

Although you might think you are strong enough to avoid these traps, well, little by little, you become a product of your environment.

Isolating yourself is actually smart for a good investor. Maybe not completely isolated, so like a small town would be pretty good I think. But a big major city is definitely not good for a long term investor.

Physical location is critical but so is your online location. If you are a long term investor in crypto currency, well, stay off forums and Twitter. If you are into the stock market, stay of forums and twitter.
I would even say, be careful of what you watch on Youtube. Youtube can be a minefield of bad advice and crazy market predictions from people trying to get your attention.

That might sound conflicting since I have a youtube channel, but I’ll try my best to stay rational for you. If I become irrational, you shouldn’t watch my videos.

So here are my strategies for the next GFC.
- Don’t check the market everyday.
- Keep up with your favorite investors and what they are doing. Charlie Munger, Warren Buffett, Mohnish Pabrai, Guy Spier. They have gone through this stuff before.
- Avoid all youtube clickbait videos, news, twitter, and forums. It will only distract you and mess with your mind. It will be like being in New York in 2008 when everyone was losing their jobs. For example, right now so much stuff about hyperinflation, a market crash is imminent and crypto currency madness. Don’t get sucked into wasting your time on this stuff.
Don't wait for this GFC like event to happen. Just stick to your buy prices and play your own game. One day it will happen, and you will get great prices, simple. Stay in your lane.

Видео What We Need To Know About The NEXT GFC! канала Andrew Brown