It's a video Q&A, but to summarize, his "best personal financial advice" is a simple two-parter:
1. Keep your expenses low.
2. Avoid risk.
Simple, straightforward, and yet, profound, thought-provoking, perhaps even controversial.
I do kind of wish that he would elaborate on the risk part. Clearly, he is very conservative. Not that there's anything wrong with that, but to me, the point isn't to avoid risk at all, but rather, to find the most approriate risk that still offers optimal gains. That and being too conservative also introduces a certain types of risks as well, such as inflation risk.
But anyways, while the advice simple enough, I don't think its depth and importance should be underestimated.
So, what do you guys think of his "best personal financial advice"? Also, he has several other video clips that may be of interest to you.
May 13th, 2009 at 03:52 pm 1242229931
keep your expenses low is always great advice.
May 13th, 2009 at 05:09 pm 1242234563