How Long-Term Investors Actually Think About Risk with Ben Carlson
All the Hacks: Money, Points & LifeShow Notes
#279: Learn to handle market volatility and build long-term wealth in a world dominated by AI disruption, market fear, inflation concerns, and nonstop financial noise. Chris and Ben discuss why investing remains psychologically difficult, how to think about global diversification, when to reevaluate your portfolio, and the risks most investors still overlook.
Ben Carlson is the Director of Institutional Asset Management at Ritholtz Wealth Management and the author of five books on investing, including his newest, Risk and Reward. He's the creator of the blog A Wealth of Common Sense and co-host of the Animal Spirits podcast.
Link to Full Show Notes: https://chrishutchins.com/risk-market-volatility-ben-carlson
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Resources Mentioned
Ben Carlson: Website | X
Book: Risk and Reward
Podcast: Animal Spirits
A Longer Life Can Lead to Financial Concerns, and More Questions
The Millionaire Next Door by Thomas Stanley and William Danko
Roger Federer's 2024 Dartmouth Commencement Address
ATH Podcast
#128: The Psychology of Money with Morgan Housel
#174: Secrets of Success in Life and Work with Legendary Silicon Valley Investor Andy Rachleff
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Full Show Notes
(00:00) Introduction
(00:49) Why Investing Is Still So Hard for Most People
(01:37) How Today's Media Makes Markets Feel Scarier Than Ever
(02:51) The Core Idea Behind Ben’s New Book
(05:10) What Japan's Lost Three Decades Teach Long-Term Investors
(08:50) Why You Need Exposure Beyond Your Home Market
(10:18) Will AI Reshape Global Markets or Just U.S. Stocks?
(14:01) Could a Dot-Com-Style Crash Happen Today?
(15:57) Why AI Could Still Trigger the Next Bubble
(17:57) Focus on What You Can Control, Not What You Can't
(19:16) The Worst-Case Inflation Scenario of the 1970s
(21:47) How to Think About Inflation in Today's Economy
(23:36) The Inflation Hedges Most People Already Have
(26:58) How to Filter the Noise and Stay Long-Term
(33:31) The Penalty Kick Study and Why We Hate Doing Nothing
(35:08) When It's Actually Time to Reevaluate Your Plan
(36:49) Planning Your Career and Money for an AI Future
(43:33) Why Optimism Is a Long-Term Investing Edge
(47:25) The Tax Alpha Most Investors Are Missing
(50:05) Applying These Lessons Closer to Retirement
(51:53) The Risks Most Investors Forget to Plan For
(56:50) The First Move to Rethink Your Risk Profile Tonight
(59:42) Where to Find Ben and His New Book
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