John Jennings on Investing with Confidence in the Face of the Unknown

Ready for an insider's view of wealth management, unmasking Wall Street's misaligned incentives, and a dive into the unpredictable world of investing? Join us in this episode as John Jennings, a prominent financial strategist, author, and Forbes contributor, unravels the intricacies of preserving wealth and demystifies common misconceptions surrounding economic growth and stock markets. He talks about Littlewood's law of miracles, which states that highly improbable events always occur. John reflects on Wall Street's marketing machine and how misaligned incentives can lead to disastrous consequences. He also shares his motivation for writing his book: to spread truth and transparency around wealth management to help people have less worry and anxiety.Please tune in to this insightful conversation for tips on reducing risk when preserving wealth![00:01 - 14:11] Opening SegmentIntroducing John to the showLuck is created by putting yourself out there in the world and creating opportunities to interact with othersInvestment banks pivoted from a true partnership, private models to publicly traded entitiesFocus on things you can control and influence, not those you cannot[14:12 - 29:36] The Benefits of Less Active Investing and Knowing YourselfThe stock market is not the economy; economic growth in the US has zero correlation to the stock marketStudies show that every time people make a trade, what they sell does better than what they buyStress test portfolios by looking at historical excellent and bad periodsCreating wealth usually involves taking high risks and putting in a lot of hard work[29:37 - 36:04] Smart Strategies to Preserve and Grow Great WealthInstead of taking high-risk investments, diversify and reduce the riskWhen you have great wealth, decide how much to put in each bucketUse simple algorithms to make decisions where there is uncertaintyThe stock market is not the economy, so economic indicators won't tell you how areas of the stock market will do with precision[36:04 - 38:42] Closing SegmentQuotes:"Successful investing typically means being more boring." - John Jennings"Using algorithms to help you make decisions works better than just unstructured judgment." - John JenningsConnect with John!https://johnmjennings.com/ www.stlouistrust.com Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.