Want to create an interactive transcript for this episode?
Podcast: My Worst Investment Ever Podcast
Episode: Gary Belsky – Long-Term Patience Is the Key to Success in Investing
Description: BIO: Gary Belsky is co-author of Why Smart People Make Big Money Mistakes—And How To Correct Them: Lessons from the Life-Changing Science of Behavioral Economics and the former editor in chief of ESPN The Magazine and ESPN Insider.com.STORY: Gary waited for seven years to invest in the Berkshire Hathaway stock hoping the price per share would drop. He missed out on the compounding for the seven years and earned a 14% return instead of 18%.LEARNING: A stock isn’t cheap because it’s $5. A stock is cheap if the Price-to-Earnings ratio is low. ...