Benjamin Felix is Chief Investment Officer at PWL Capital.
Youtube channel –
The Case for Index Funds –
Investing in Technological Revolutions –
Rational Reminder podcast –
Academic References – full list is at
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Arnott, R., Kalesnik, V., & Schuesler, T. (2018). Is your alpha big enough to cover its taxes? A quarter-century retrospective. The Journal of Portfolio Management, 44(5), 78–102.
Ben-David, I., Franzoni, F., Kim, B., & Moussawi, R. (2023). Competition for attention in the etf space. The Review of Financial Studies, 36(3), 987–1042.
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Bernstein, W. J., & Arnott, R. D. (2003). Earnings growth: The two percent dilution. Financial Analysts Journal, 59(5), 47–55.
Bessembinder, H. (2018). Do stocks outperform Treasury bills? Journal of Financial Economics, 129(3), 440–457.
Bessembinder, H., Chen, T.-F., Choi, G., & Wei, K. C. J. (2023). Long-term shareholder returns: Evidence from 64,000 global stocks. Financial Analysts Journal, 79(3), 33–63.
Bessembinder, H., Cooper, M. J., & Zhang, F. (2023). Mutual fund performance at long horizons. Journal of Financial Economics, 147(1), 132–158.
Busse, J. A., Goyal, A., & Wahal, S. (2014). Investing in a global world*. Review of Finance, 18(2), 561–590.
Carhart, M. M. (1997). On persistence in mutual fund performance. The Journal of Finance, 52(1), 57–82.
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Now that I’ve put this out…time to go back into the trenches and investigate Kanye West’s upcoming memecoin. 💀😵💫
Stay safe out there. ❤
Wow
Should get Joseph Carlson for your next installment in this series.
there is NO WAY that is he’s 6”10!!!! I still can’t tell if he’s joking or not. I would never have expected that from my favourite finance YouTuber 4:20
Investing sounds like another way for someone else to get their hands on your money
NVDA up 40% since this video
MBA not NBA
Peter schiff, everything money, coffeezilla all you need
What is that paper and how do they account for the survivorship bias with stocks
I am an idiot. Thank you for the video.
Love it when worlds collide
So ROI are poop why would anyone invest
Ben is the GOAT
My mom says she thinks trump is Jewish. She was maga and q anon, untill it came out trump was in the files. Now she's just racist and anti Semitic, and pretends to not like trump.
@Coffeezilla, I studied ChemEngr (2 degrees from a top 5 uni) but I don't have a job and don't do anything related to ChemEng lol. I'm happy to know that I'm not alone 😅
I took the Series 65 and passed. The person you've interviewed knows his stuff!! This is a very instructive interview! 💯
"Investing for idiots" and they're both engineers
Cant beleive I missed that earilier, two of my most favorites youtubers/podcasters.
I'm an idiot, I just started investing, and I found this video very valuable. Thank you Coffeezilla
S&P 500 is NO LONGER A SAFE INVESTMENT, majority of it is now an AI bet
Coffee. Look up SEC (Rule 203(b)(2) Bona Fide Market Maker Exception. And go down all the loopholes about reporting/ creating and failing to deliver shares. Worth talking to Biggums.
I would be curious as to you doing a video on market maker manipulation.
Diversification reduces risk only when it’s informed.
Owning many businesses you don’t understand is not diversification — it’s uncertainty. investing in international markets blindly is actually very dangerous if not knowledgeable about the market. I think Ben should mention his advice is for people know little about investing and don’t want to spend too much on investing. In that case, just buy SP500 with DCA in the faith of US economy. if people really want get serious in investing, it takes time to learn, patience, and risk of losing money along the way. But I don’t think Ben suggestion is limited for people who want to learn how to invest and a bit risk reverse.
TLDR: Nobody actually knows, keep fees low, skew towards indexes with equity exposure. I wish they got into Ray Dalio's changing world order risk, and the US losing world reserve currency… Segway into Gold, Bitcoin discussion.
Jesus this guy should just find another job, he makes it seem imossible to beat the market. In faact it is very easy — https://isl.stanford.edu/~cover/papers/paper93.pdf
i would think of investing by the time i graduate high school in the foreseable future just to save my money for some things that are expensive while working on my future job.
Coffee saying america is the best but brings on a canadian for honesty and integrity. Hmmm.
One of the most popular Boglehead portfolios is VTI (entire USA stock market) + VXUS (entire world stock market minus the USA), at a ratio of about 70/30 or 60/40. I have no idea where Coffee got the idea Bogleheads dislikes int'l diversification.
29:47 watching this 9 months in the future seems pretty nice
4:03 MBA? More like NBA
Stock markets are not a tug of war. Many people can buy and make the same correct predictions and sell, as long as there's exit liquidity.
You guys are too afraid of risk. You can buy and hold invest profitably using the CANSLIM method and the turtle soup trading method for better entries.
Also then do what Buffet aid to buy stocks which you see future for the next 10 years. You can learn from profitable mentors who show legit proof of consistent profitability, and backtest and forward test the strategies.
30 year old bull market will make every idiot look smart
Hi Ben – So should we not take exposure to factors (small & value) all the time? Rather only in downturn if I can? It seems thats what you said in this session.
So if I want to start my portfolio would it be a good idea to say put 6k into the S&P 500, then put 2k into Nividia, and 2 k into Lilly ?
I always heard that you should invest money into the S&P 500 is this not true anymore? Or should you invest some money in the S&P and some money in other stuff??
This made me more bullish on Bitcoin
Basically, there is investing, and then there is day trading. The majority of people have no business day trading because they don’t have the money or the time to get it wrong.
Just get some good growth stock mutual funds. Growth, growth and income, aggressive growth & international
23:23
This is not for beginners. Not even remotely. Y'all should have just kept the conversation at index funds. That's really all beginners need to know about.
S&P500 and Chill 😎
I like a guy who has a full book case.
7:55 “mmhmm.. cracks open beer. Let’s do this”
This video should’ve been for normal people who have to work not weird nerd losers trying to trade for a living