Ever wonder if you’re investing or just speculating? In this episode, we dive into Burton Malkiel’s timeless classic A Random Walk Down Wall Street and unpack the key lessons every investor (or wannabe investor) should know.

We explore:

• 🌷 Tulip Mania and 🌐 crypto hype, Bay areas homes—why bubbles happen and how to spot them
• 💰 The difference between real investing vs. speculation
• 🏰 The two major theories of value: Firm Foundation vs. Castle in the Air—and how they show up in places like Bay Area real estate
• 📉 Why Burton Malkiel isn’t sold on Bitcoin as money
• 🤯 How financial analysts use confusing jargon (maybe on purpose?)
• 📊 And why indexing might be the smartest move for most of us

Whether you’re curious about stock picking, wondering if that next hot asset is a bubble, or just trying to make smarter financial decisions, this episode is packed with timeless takeaways—with a few fun stories along the way.

🎧 Episode Breakdown:

⏱ 00:00 - Intro
🌷 03:00 - Tulip Mania, Crypto Craziness
💸 06:25 - Investing vs Speculating
🏰 08:11 - Two stock valuation theories - Firm Foundation vs Castle in the Air
📊 10:47 - Technical Analysis vs Fundamental Analysis
🧠 13:09 - Personal Learnings
🔁 14:52 - Recap & Summary