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Josh Brown and Ritholtz Wealth Management CFO Bill Sweet talk about some of the most amazing, mind-blowing stock market facts from the last one hundred years.
It turns out that new all-time highs occur a lot more frequently than many investors understand. Intuitively, many investors and traders see something trading for a record high price and assume that it's a good time to sell. Unfortunately, they're wrong. They're falling prey to the famous "Gambler's Fallacy" whereby we see a coin land on heads seven times and we're certain that the next flip will be tails. The math doesn't work that way - but it is this exact cognitive error that enabled Bugsy Siegel and the Mafia build Las Vegas in the middle of the Nevada desert.
Josh and Bill cover some of the most important stock market stats you'll ever hear about and talk about why record highs are better for buyers than they are for sellers almost all of the time.
Remember this: Your investment philosophy and general demeanor in markets are highly dependent on the content you read and watch. So read and watch the right stuff.
Bill linked to all of the posts we referenced here:
https://twitter.com/billsweet/status/1032298219793985536
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