Episode Details

In this episode of Money Lessons, Andy closes the series on equity by turning to the hardest part of owning stocks: holding on. 

He explains why volatility is the price investors pay for the equity risk premium, and why the market's steepest falls and sharpest recoveries tend to arrive back to back — which is what makes market timing a losing game. 

He looks at the evidence that the more investors trade, the less they tend to keep, and at how modern trading apps are built to encourage the very activity that erodes long-run returns. 

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