Welcome to Biderman’s Money Pod. This episode is for smart individual investors who think they cannot beat the market. If this describes you, what you may be missing is that money managers and investment advisors don’t beat the market either. My guest today, Pimm Fox, was an anchorperson at Bloomberg at TV and Radio until recently retiring. Pimm shares his experience of working with an investment advisor and his advice for individual investors who want to become competent at investing in the markets.

 

In this episode of Biderman’s Money Pod, we discuss the following:

 

 

• Why dollar cost averaging works even in down markets.

• Why money managers won’t disclose their success rate

• The importance of having financial conversations with people other than money managers.

• Why cryptocurrencies crash

 

 

Key Discussion Points:

 

[1:40] Pimm’s advice for individual investors who want to become competent and effective in investing in the markets.

 

[3:45] Dollar cost averaging explained, and why it works even in down markets.

 

[9:53] Pimm expresses the importance of learning from other people’s investment experiences, other than people who have a financial stake in the conversation.

 

[17:19] Most people who manage money are not as smart as they want people to think they are.

 

[18:11] Pimm shares a personal financial story about working with an investment firm he subsequently left.

 

Resources:

 

CharlesBiderman.com

Charles Biderman on Facebook

Mr. C. Biderman on YouTube

@CBiderman on Twitter