DO NOT TIP. This is an unofficial YouTube mirror of Ben Felix (https://youtu.be/rU4wanoRWbE). Convince Ben Felix to join Odysee! ----------------------------- In this edition of Common Sense Investing, I'll tell you why past performance won't indicate how well a fund will perform in the future. Watch to find out and let me know what you think about this in the comment section below! Referenced in this video: On Persistence in Mutual Fund Performance - https://www.jstor.org/stable/2329556?seq=1 Luck Versus Skill in the Cross Section of Mutual Fund Returns - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1356021 ------------------ Visit PWL Capital: https://goo.gl/uPcXg7 PWL Capital Blog Post: https://www.pwlcapital.com/my-advisor-has-shown-lots-of-funds-that-outperform/ Follow PWL Capital on: - Twitter: https://twitter.com/PWLCapital - Facebook: https://www.facebook.com/PWLCapital - LinkedIN: https://www.linkedin.com/company-beta/105673/ Follow Ben Felix on - Twitter: https://twitter.com/benjaminwfelix - LinkedIn: https://www.linkedin.com/in/benjaminwfelix/ ------------------ Video channel management, content strategy & production by Truly Inc. - Website: http://trulyinc.com - Twitter: https://twitter.com/trulyinc

DO NOT TIP. This is an unofficial YouTube mirror of Ben Felix (https://youtu.be/RsDKBDPXK7M). Convince Ben Felix to join Odysee! ----------------------------- Wars and financial markets have coexisted, and often been intertwined, for hundreds of years. Countries that have lost major wars have had their financial markets decimated, while global markets have been relatively resilient, even to major conflicts. Despite the relative resilience of global markets, crises and wars tend to reduce global market returns and increase their volatility. Special Rational Reminder episode: https://rationalreminder.ca/podcast/special-episode-stock-bonds-and-war Referenced in this video: War, Peace and Stock Markets: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=885980 ICB Project: https://sites.duke.edu/icbdata/ WHY DOES STOCK MARKET VOLATILITY CHANGE OVER TIME?: https://www.nber.org/system/files/working_papers/w2798/w2798.pdf Earning from History? Financial Markets and the Approach of World Wars: https://www.brookings.edu/wp-content/uploads/2008/03/2008a_bpea_ferguson.pdf The General Theory of Employment: https://macroeconomiauca.files.wordpress.com/2012/05/keynes_general_theory_of_employment_qje_1937.pdf ------------------ Follow Ben Felix on - Twitter: https://twitter.com/benjaminwfelix Visit Rational Reminder: www.https://rationalreminder.ca/ Follow the Rational Reminder on: - Twitter: https://www.twitter.com/RationalRemind Visit PWL Capital: https://www.pwlcapital.com/ Follow PWL Capital on: - Twitter: https://twitter.com/PWLCapital - Facebook: https://www.facebook.com/PWLCapital - LinkedIn: https://www.linkedin.com/company/pwl-capital/ You can find the Rational Reminder podcast on Google Podcasts: https://www.google.com/podcasts?feed=aHR0cHM6Ly9yYXRpb25hbHJlbWluZGVyLmxpYnN5bi5jb20vcnNz Apple Podcasts: https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582?mt=2 Spotify Podcasts: https://open.spotify.com/show/6RHWTH9iW7hdnA7eAg7ukO?si=hjZNfLKuSjSeWX38GPqhVA ------------------

DO NOT TIP. This is an unofficial YouTube mirror of Ben Felix (https://youtu.be/kYO7xrHhqsY). Convince Ben Felix to join Odysee! ----------------------------- 7:30 I say that Fama and French found that over a 23-year period there was a 23% chance of value under-performing. I should have said that over a *3-year period* there was a 23% chance of value under-performing. A value stock has a low price relative to some fundamental metric like book value or earnings. The value premium is the excess return that value stocks are expected to earn over the market. This excess return has historically been, and is expected to continue to be, positive. In other words, value stocks have higher expected returns than the market. Referenced in this video: - Volatility Lessons https://poseidon01.ssrn.com/delivery.php?ID=134094121066112087075072085088107120021087025040030006018105081106124081029070105023027001056044123040017070001072012124019093102008032018048095101099103120007069029066042024018095102083114109121005108083070092064095112124085026115116031107096097122&EXT=pdf - The Value Premium https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3525096 - Identifying Expectation Errors in Value/Glamour Strategies https://poseidon01.ssrn.com/delivery.php?ID=378070074070098110124101067088126076009075022081036087078089004067078002091125065007021011006001039100019102099007107095112094116049039081035027107115093068086106025069011095094070088126007104066098126070011081006004066029002072072081114108125112081072&EXT=pdf - Risk and Return of Value Stocks https://papers.ssrn.com/sol3/papers.cfm?abstract_id=112553 - The Cross-Section of Expected Stock Returns https://www.ivey.uwo.ca/cmsmedia/3775518/the_cross-section_of_expected_stock_returns.pdf - It’s Time for a Venial Value-Timing Sin https://www.aqr.com/Insights/Perspectives/Its-Time-for-a-Venial-Value-Timing-Sin ------------------ Follow Ben Felix on - Twitter: https://twitter.com/benjaminwfelix - LinkedIn: https://www.linkedin.com/in/benjaminwfelix/ Visit Rational Reminder: https://www.https://rationalreminder.ca/ Follow the Rational Reminder on: - Twitter: https://www.twitter.com/RationalRemind Visit PWL Capital: https://www.pwlcapital.com/teams/passmore-felix/ Follow PWL Capital on: - Twitter: https://twitter.com/PWLCapital - Facebook: https://www.facebook.com/PWLCapital - LinkedIn: https://www.linkedin.com/company/pwl-capital/ You can find the Rational Reminder podcast on Google Podcasts: https://www.google.com/podcasts?feed=aHR0cHM6Ly9yYXRpb25hbHJlbWluZGVyLmxpYnN5bi5jb20vcnNz Apple Podcasts: https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582?mt=2 Spotify Podcasts: https://open.spotify.com/show/6RHWTH9iW7hdnA7eAg7ukO?si=hjZNfLKuSjSeWX38GPqhVA ------------------

DO NOT TIP. This is an unofficial YouTube mirror of Ben Felix (https://youtu.be/q9Golcxjpi8). Convince Ben Felix to join Odysee! ----------------------------- Making the housing decision requires careful consideration of both the financial and non-financial impacts, and the way that they interact with each other. There is no universally right way to approach housing. In many cases, contrary to conventional wisdom and societal pressure, renting is a better option than owning, both financially and from the perspective of subjective well-being. Referenced in this video: Extrinsic Value Orientation and Affective Forecasting: Overestimating the Rewards, Underestimating the Costs https://sdtheory.s3.amazonaws.com/SDT/documents/2010_SheldonGunzNicholsFerguson_JOP.pdf Does the Dream of Home Ownership Rest Upon Biased Beliefs? A Test Based on Predicted and Realized Life Satisfaction https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3660256 The American Dream or the American Delusion? The Private and External Benefits of Homeownership for Women https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1877163 Homeownership and Happiness: Evidence for Switzerland https://digitalcollection.zhaw.ch/bitstream/11475/18640/3/2019_Hofmann-Umbricht_Homeownership-and-happiness-Switzerland_SREJ.pdf The relationship between homeownership and life satisfaction in Germany https://www.econstor.eu/bitstream/10419/51372/1/672468557.pdf Is a Fixer-Upper Actually a Downer? https://www.tandfonline.com/doi/full/10.1080/10511482.2017.1367317 If Money Doesn't Make You Happy Then You Probably Aren't Spending It Right https://scholar.harvard.edu/files/danielgilbert/files/if-money-doesnt-make-you-happy.nov-12-20101.pdf The relative relativity of material and experiential purchases https://pubmed.ncbi.nlm.nih.gov/20053039/ The McMansion Effect: Top House Size and Positional Externalities in U.S. Suburbs https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3378131 Book: Happy Money https://dunn.psych.ubc.ca/book-happy-money/ Shelter in the Canadian CPI: An overview https://www150.statcan.gc.ca/n1/pub/62f0014m/62f0014m2017001-eng.htm Theory of Homes and Jobs https://warwick.ac.uk/fac/soc/economics/staff/ajoswald/homejobs.pdf ------------------ Follow Ben Felix on - Twitter: https://twitter.com/benjaminwfelix - LinkedIn: https://www.linkedin.com/in/benjaminwfelix/ Visit Rational Reminder: www.https://rationalreminder.ca/ Follow the Rational Reminder on: - Twitter: https://www.twitter.com/RationalRemind Visit PWL Capital: https://www.pwlcapital.com/teams/passmore-felix/ Follow PWL Capital on: - Twitter: https://twitter.com/PWLCapital - Facebook: https://www.facebook.com/PWLCapital - LinkedIn: https://www.linkedin.com/company/pwl-capital/ You can find the Rational Reminder podcast on Google Podcasts: https://www.google.com/podcasts?feed=aHR0cHM6Ly9yYXRpb25hbHJlbWluZGVyLmxpYnN5bi5jb20vcnNz Apple Podcasts: https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582?mt=2 Spotify Podcasts: https://open.spotify.com/show/6RHWTH9iW7hdnA7eAg7ukO?si=hjZNfLKuSjSeWX38GPqhVA ------------------