Why Investors Need Less FOMO and More Patience | The Informed Investor 58
From The Informed Investor · 36:58
Show by Dimensional Fund Advisors
Episode 58: Any financial professional who joined the industry a week after Black Monday—when the stock market suffered its biggest single-day loss—knows something about investment discipline. Blaine Lourd, founder and CEO of Los Angeles-based LourdMurray, vividly remembers studying for a certification exam on that dark day, October 19, 1987, and then passing that exam a week later as the market began a long recovery. Over the next four decades, Lourd has managed money for clients during economic expansions, contractions, and recessions, while both Republicans and Democrats controlled the presidency and Congress, and when wars broke out, the dot-com era boomed and busted, and credit default swaps became dirty words. "If you can ignore all of that and you can stick with a plan that you can stick with, that is right for you, it's pretty hard not to make money and reach your goals," Lourd says. "To be a successful investor over time, as we've known forever, you don't have to make predictions. You don't have to do sector bets. You just have to really stay in your seat." Discipline is a prerequisite for this approach—and FOMO is your enemy, according to Lourd, whose firm has roughly $8 billion under management. In Episode 58 of The Informed Investor podcast, Dimensional's Mark Gochnour, Head of Global Client Services, speaks with Lourd at length about where and how investors can go right and wrong on the road to their financial destination. LINKS FROM TODAY'S EPISODE: Stay Calm: Learn to Embrace Uncertainty in Investing and Life Order the new book by Dimensional Founder David Booth: https://www.amazon.com/gp/product/B0GPDHGH8K/?maas=maas_adg_2F97289929AB0BA26D806A1F81D55D66_afap_abs&ref_=aa_maas&tag=maas&smid=ATVPDKIKX0DER Subscribe to the Stay Calm Investing Newsletter: https://www.staycalminvesting.com/newsletter?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor The Informed Investor: Feedback Survey: https://www.dimensional.com/us-en/informed-investor-survey?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor The Informed Investor on YouTube: https://www.youtube.com/playlist?list=PLCyJr6FFig-h1mA7rVP7Mbk0irFw2wA90 Dimensional Fund Advisors Shorts on YouTube: https://www.youtube.com/@dimensionalfundadvisors/shorts Jake DeKinder on LinkedIn: https://www.linkedin.com/in/jake-d-4105b98 Blaine Lourd on LinkedIn: https://www.linkedin.com/in/blaine-lourd-1517aa17a/ Learn more at https://www.dimensional.com/?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor For US audiences: Select videos are available as part of an opportunity for CFP® and Investments & Wealth Institute® professionals to earn continuing education (CE) credits https://www.dimensional.com/financial-professionals/ce-credit-experience-d360?utm_source=youtube&utm_medium=organic&utm_campaign=informed_investor
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