Ron11

A generous dose of dubious investment advice

Revisado: 05-15-23

These interviews help the listener to know the background of these famous investors and what got them to where they are. However, any and all investment "advice" should be a taken with a huge grain of salt. A lot of these folks became successful because they are good at telling investors stories that sound amazing. There is a lot of talk about how investors perform compared to the broad public markets. If someone is reading or listening to this book for advice, then they are probably trying to understand how to beat the market. If you can't beat the market, you may as well stick with low cost or no cost index funds. Take for instance, David's interview with Ron Baron. Baron sells a big story about beating the public markets, and when Rubinstein asks him what one recommendation he would make to a new investor, Baron says they should put their money into the Baron WealthBuilder fund, which is like an index of all of their other funds. Well, one doesn't have to be an investment professional to look at a chart of that fund and compare it to the S&P 500 and see that this fund has (you guessed right!) underperformed the S&P over the last 1 year, 2 year and 5 year periods. So you're basically paying Baron and his staff for losing money that you otherwise would have had had you simply invested in the index. Basically, one needs to listen to this and pretty much any other investment book with a healthy dose of skepticism and not take anything at face value, even from what may seem like credible sources.

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A mixed opinion

Revisado: 06-15-17

What did you like best about The Golden Passport? What did you like least?

As an alum of HBS, I can say that many of author's criticisms are quite fair and worth some serious reflection. However, I don't see much, if anything, really changing in how the school operates as a result.

Would you be willing to try another one of George Newbern’s performances?

The narrator should have taken the time to learn how to pronounce many of the names mentioned. Mispronunciations of both people and institution names run rampant in this narration and I can't believe neither the author bothered to check about names that might have been in doubt, nor did an editor (or even the author, for that matter) pick up on these.

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