The Intelligent Investor w/ Jason Zweig (RWH004)

William Green speaks with Jason Zweig, who writes the Intelligent Investor column for The Wall Street Journal. Jason edited and updated the revised edition of Benjamin Graham’s The Intelligent Investor, which Warren Buffett hails as “by far the best book on investing ever written.” Jason also wrote Your Money and Your Brain, a classic guide to the mental game of investing. In this conversation, he shares rich insights on how to invest (and live) intelligently.
IN THIS EPISODE, YOU'LL LEARN:
00:00:00 - Intro
00:00:23 - What Jason Zweig learned from his father, the wisest person he’s ever known.
00:22:05 - Why investors shouldn’t trust what brokers and financial advisers are selling them.
00:35:36 - How success is shaped by weird moments of random chance as well as skill.
00:48:44 - Why Benjamin Graham was obsessed with the overwhelming importance of survival.
01:04:45 - Why investors should be optimistic, humble, and intensely wary of overconfidence.
01:22:22 - What Warren Buffett said when Jason asked him, “Do you think you’re a genius?”
01:27:07 - Why investors need rules, policies, and procedures to drive their decision-making.
01:34:50 - Why investing is, above all, a head game in which the secret of success is self-control.
01:39:21 - What Jason learned while working with Nobel Prize-winning genius Daniel Kahneman.
01:55:25 - How Jason thinks about the perils and promise of disruptive technologies like Bitcoin.
02:10:10 - How money can (and cannot) buy you happiness.
02:15:00 - Why he’s inspired by the simple motto “I did the best I could.”
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✔️ Subscribe to Bitcoin Fundamentals/We Study Billionaires podcast show: link.chtbl.com/RWH04
🖊️ Access our free show notes and transcript here: www.theinvestorspodcast.com/r...
📖 BOOKS MENTIONED:
- Richer, Wiser, Happier by William Green - amzn.to/3JejudP
- The Intelligent Investor Rev Ed. by Jason Zweig - amzn.to/3xqZ4MH
- The Devil's Financial Dictionary by Jason Zweig - amzn.to/3NRKqnb
- Your Money and Your Brain by Jason Zweig - amzn.to/3NTh9IT
- The Luck Factor by Richard Wiseman - amzn.to/3xa5I9L
Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😁
▶️ PAST EPISODES MENTIONED
- Lessons from a Legend w/ Howard Marks (RWH002) - • Investing Wisely In Ti...
💡OTHER RESOURCES
- Jason Zweig’s Website - jasonzweig.com/about/
- William's Twitter Account - / williamgreen72
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LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK:
₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: • ⚡️ Bitcoin Fundamentals 🔑
📚Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: • 💰 We Study Billionaires 🥇
🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: • 🏠 Real Estate 101 💵
💸Get introduced to the world of investing with our Millennial Investing podcast show: • 💸 Millennial Investing 🎯
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DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.

[@ITOXIC_YT]

I have noticed ‘lucky’ people tend to be generous. God blesses generosity

[@TheInvestorsPodcastNetwork]

Thank you for watching!

[@vikasponda7657]

GREAT GREAT&GREAT Again.

[@party4real]

Fantastic interview. Can't believe I just listened to 2 hours straight workout realizing it!

[@TheInvestorsPodcastNetwork]

Woot! Thank you so much.

[@trave7644]

Jason was in the brilliant documentary, featuring also John Bogle, "Retirement Gamble." Respect for Jason. He is one of tyhe good guys.

[@darrenheintzman6654]

The treasure trove of wisdom within this interview is incredible. Thank you William and Jason! Absolutely fantastic interview!

[@RicherWiserHappier]

Thanks so much, Darren. I really appreciate it. Warm wishes, William

[@TheInvestorsPodcastNetwork]

Thanks for the support, Darren!

[@marcgerges1380]

Essential listening!

[@hpottstock]

51:21 "The Truce" by Mario Benedetti, from 1969 (I looked it up, I won't even pretend I knew...) Amazing Ben Graham! Dunno why I missed this interview, it's great. Thank you Jason, thank you William!

[@bentley3725]

What a wonderful conversation. Thank you William for your diligent preparation, it shows so smoothy in your flow of thoughts and questions. Thank you Jason for your deep and meaningful thoughts, that should produce a lot of wisdom. Keep up the excellent work you 2!

[@TheInvestorsPodcastNetwork]

Thank you so much for the lovely comment!

[@RicherWiserHappier]

Many thanks, Bentley. That's very kind of you to say. Warm wishes, William

[@Sam-nl6fr]

Fabulous, thank you both. Two clever people passing on some wonderful truths in an entertaining and sometimes very moving fashion.

[@RicherWiserHappier]

Thanks so much, Sam. So glad you enjoyed this conversation. Warm wishes, William Green

[@TheInvestorsPodcastNetwork]

So glad you enjoyed the episode, Sam!

[@caddie1a]

I would like Jason to revise again the ‘Intelligent Investor’ with updated commentary & examples.

[@patrickpettibone9749]

A fantastic interviewer for a fantastic interviewee

[@tulipmania4923]

Another amazing interview. William is on a roll.

[@TheInvestorsPodcastNetwork]

Thank you so much!

[@RicherWiserHappier]

Thanks so much! So glad you're enjoying these interviews. Warm wishes, William

[@papabear4066]

Good podcast! Speaking against political and social injustice is also just not a service towards a better world and future but also a source of immense self satisfaction and happiness. Your fairness and honesty won’t be defined by your behavior towards your own kind but by your attitude towards you differ with. Thanks for the podcast!

[@TheInvestorsPodcastNetwork]

Glad you liked it!

[@jfriesen39]

Two of my favorite guys right here. Dream interview. I hope he does Mohnish next.

[@RicherWiserHappier]

Many thanks, Jason. I have an interview with Mohnish scheduled. Enjoy!

[@jfriesen39]

@@RicherWiserHappier Excellent! I can't wait. Thank you, Mr. Green. I'll have to submit a Twitter question too because I want a signed copy of your book.

[@TheInvestorsPodcastNetwork]

Thank you so much for the lovely comment, Jason!

[@simonroese2596]

this is such a great video its mind blowing you only have 80k subs!!! This should be paid content im happy to support keep it up with this quality thanks so much

[@TheInvestorsPodcastNetwork]

Thank you so much for the kind words, Simon!

[@RicherWiserHappier]

Many thanks, Simon! Happy to do it for free. Warm wishes, William

[@njabulovincent3180]

@@RicherWiserHappier Hello Mr William Green. Please try and do an interview with Mr Nicholas Sleep one day :) Thank you so much for everything ! Love and peace from South Africa.

[@soumyaprakashswain2524]

Insightful and Enlightening. Great life lessons.

[@TheInvestorsPodcastNetwork]

Glad it was helpful!

[@RicherWiserHappier]

Thanks so much, Soumya Prakash Swain. Warm wishes, William

[@kevinboutsen]

Amazing conversation. Thank you!

[@RicherWiserHappier]

Many thanks! So glad you enjoyed this conversation. Warm wishes, William

[@TheInvestorsPodcastNetwork]

Our pleasure!

[@faronskelton4085]

Thank you sir

[@JustinPutney]

Great questions. Ideal interviewee. Fantastic!

[@TheInvestorsPodcastNetwork]

Glad you enjoyed it, Justin!

[@RicherWiserHappier]

Many thanks, Justin. It was a total delight interviewing Jason. Warm wishes, William

[@JustinPutney]

@@RicherWiserHappier Anytime you two want to sit down for a chat, I'll be there to listen. ;-)

[@JustinPutney]

@@RicherWiserHappier Also, I really enjoyed "Richer, Wiser, Happier." Great book!

[@vladbsr8739]

Legendary!!!

[@TheInvestorsPodcastNetwork]

Hope you enjoyed the episode!

[@YLalgondar]

Amazing interview!

[@TheInvestorsPodcastNetwork]

Thank you so much!

[@RicherWiserHappier]

Thanks a lot, Yerri. Warm wishes, William

[@YLalgondar]

There is so much wisdom and insight on the market from Jason Zweig. It is so invaluable! Thanks for bringing wonderful guest on your show!

[@jarreduys1484]

I can't help but wonder now if William is friends with JSE legend David Shapiro and how awesome it would be if David was on the show one day.

[@RicherWiserHappier]

Hi Jarred. I don't know David Shapiro, I'm afraid. Sounds intriguing! Thanks, William

[@jarreduys1484]

@@RicherWiserHappier he really is a legend in South African investing circles and recently celebrated his 50th year of working on the JSE and he's still going strong. Thanks for the reply!

[@jasboyh9586]

More to do with been unlucky. Market always goes up over time

[@sebfox2194]

No one is more humble than me. 🤣

[@5metoo]

Great interview. But I wish Zweig wouldn't have repeated the now ubiquitous romantic idea that money spent on experiences or relationships is so much more value and virtually always well spent. Being a miser isn't good, but chasing experience with money or chasing the enhancement of personal relationships or popularity with money doesn't end up any better than chasing anything else or chasing money itself. There is no clear line between experience and things. Indeed most things if not everything purchased with money provides an experience. Sorry but moderation is the only key here.

[@animal9370]

This dude looks just like Uncle Fester.

[@MetalBum]

😂

[@kevinehrlich6988]

How dare Jason Zweig move Ben Graham’s commentary to the back of the book and replace it with his own! One part of the book has completely the opposite meaning if you don’t have Graham’s comments to go along with it while you’re reading. Genuinely pisses me off.

[@l.s.754]

boring, extremely boring

[@asknwclips7672]

you lost me at warren muppet.