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Greenstream

Greenstream

Auteur(s): Greenspring Advisors
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 A podcast specifically focused on helping every person live their ideal life by helping them make better decisions around their finances, relationships, and life.Copyright 2025 All rights reserved. Finances personnelles Gestion et leadership Économie
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  • Investing or Gambling? Where Do You Draw the Line?

    Investing or Gambling? Where Do You Draw the Line?
    Sep 26 2025
    Are you investing or are you gambling? In episode 17 of Greenstream, we unpack evidence from casinos, sportsbooks, and academic finance to show how the odds work against gamblers but for investors. You’ll learn about: Why time is an investor’s ally but gambler’s enemyHow the “favorite–longshot bias” from horse racing shows up in lottery stocks and IPOsFour practical ways to help stack the odds in your favor and invest like the House Subscribe now so you don’t miss what’s coming next: an inside look at the importance of Boards of Directors for organizations of all sizes and how to find opportunities to join one. Sources: 1 Thaler, Richard H., and William T. Ziemba. 1988. "Anomalies: Parimutuel Betting Markets: Racetracks and Lotteries." Journal of Economic Perspectives: https://www.aeaweb.org/articles?id=10.1257/jep.2.2.161 2 Sauer, Raymond. (1998). The Economics of Wagering Markets. Journal of Economic Literature. 36. 2021-2064. https://www.researchgate.net/publication/4732178_The_Economics_of_Wagering_Markets 3 https://www.bbc.com/future/article/20160721-the-buzz-that-keeps-people-gambling 4 https://responsiblegambling.org/for-the-public/about-gambling/the-science-behind-gambling/ 5 Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: https://ssrn.com/abstract=3423101 6 Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance, The Cross-Section of Speculator Skill: Evidence from Day Trading (December 31, 2012). Available at SSRN: https://ssrn.com/abstract=529063 7 Ritter, Jay R., The Long-Run Performance of Initial Public Offerings (1991). University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship, Available at SSRN: https://ssrn.com/abstract=1505889 8 https://site.warrington.ufl.edu/ritter/ipo-data/ 9 Asness, Cliff S. and Frazzini, Andrea and Israel, Ronen and Moskowitz, Tobias J. and Moskowitz, Tobias J. and Pedersen, Lasse Heje, Size Matters, If You Control Your Junk (January 22, 2015). Fama-Miller Working Paper: https://ssrn.com/abstract=2553889 10 Rizova, Savina and Saito, Namiko, Investment and Expected Stock Returns (July 8, 2020). Available at SSRN: https://ssrn.com/abstract=3646575 11 American Dream: Is Your House Your Greatest Investment? | Greenstream #8 https://www.youtube.com/watch?v=z-_Eg-hHaPA&t=2s 12 Real Estate: Expected Returns and Expected Headaches | Greenstream #9 https://youtu.be/Hhscc3TLEEY?si=VrRQwYSzFTAGMVTa 13 Bessembinder, Hendrik (Hank), Do Stocks Outperform Treasury Bills? (May 28, 2018). https://ssrn.com/abstract=2900447 Greenspring Advisors is a registered investment adviser with the SEC and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. The social media platforms associated with this name are solely for informational purposes and do not offer advisory services or sales of securities. Investing involves risk and possible loss of principal capital. Comments by viewers and/or recognitions are no guarantee of future investment outcomes and do not ensure that a viewer will experience a higher level of performance or results. Public comments posted on this site are not selected, amended, deleted, or sorted in any way. If applicable, certain editing of personal identifiable information and misinformation may be deleted. Content may be dated. Links to third-party sites, or information is from a reasonably reliable source. Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented.
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    46 min
  • Investor Risk: Behavioral Biases That Can Cost Investors Returns

    Investor Risk: Behavioral Biases That Can Cost Investors Returns
    Sep 12 2025

    Investment returns are expected, not promised. To capture them, investors should both intelligently take risks and stick around for the return. In episode 16 of Greenstream, we break down the psychological and behavioral biases that can hold us back. Investors should view these as penalties or unforced errors that make winning your game harder.

    You'll learn:

    • What we believe to be biases and how they manifest themselves in portfolios
    • Why diversification, patience, and tax discipline matter more than you might think
    • How the Stockdale Paradox provides a framework for long-term resilience

    Subscribe for Email Updates: https://greenspringadvisors.com/greenstream-podcast

    Follow on Apple Podcasts: https://podcasts.apple.com/us/podcast/greenstream/id1795467982

    Follow on Spotify: https://open.spotify.com/show/26NYX6WD7godcJAYVE0Yk8?si=Qxj-H7HiRdGmbNlW8uuV9g

    Meet with Pat & Marcus: https://outlook.office365.com/book/MarcusCalendaratGreenspringAdvisors@Greenspringos33.onmicrosoft.com

    Sources:

    1 Are Financial Advisors Worth Their Fee? | Greenstream #13 https://youtu.be/Is7N5M4e4Ck

    2 Investment Risk Explained: How Much Diversification Do You Need? | Greenstream #15 https://youtu.be/yEqRrXDAe7A

    3 Barberis, Nicholas and Barberis, Nicholas and Thaler, Richard H., A Survey of Behavioral Finance (2002). https://ssrn.com/abstract=327880

    4 Barber, Brad M. and Odean, Terrance, Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment (1998). https://ssrn.com/abstract=139415

    5 Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. https://ssrn.com/abstract=219228

    6 Odean, Terrance, Do Investors Trade Too Much? (1998). https://ssrn.com/abstract=94143

    7 Collins, Jim, The Stockdale Paradox. https://www.jimcollins.com/concepts/Stockdale-Concept.html

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    54 min
  • Investment Risk Explained: How Much Diversification Do You Need?

    Investment Risk Explained: How Much Diversification Do You Need?
    Aug 29 2025

    Investing isn’t about avoiding risk; it’s about taking the right risks and avoiding the wrong risks. In episode 15 of Greenstream, we break down what risk means, the difference between compensated (right) and uncompensated (wrong) risk, and why most investors underestimate risk.

    You’ll learn:

    • What different types of risk matter: catastrophic, opportunity cost, and missed goals
    • Why individual stocks are riskier than you might think (even Apple and Meta)
    • How much diversification it takes to move beyond concentration risk
    • Why risk premiums exist and how we can use them to pursue higher expected returns

    Our next episode will shift from investment to investor risk, where we’ll look at the behavioral challenges of sticking to your investment plan. You can subscribe here.

    Subscribe for Email Updates: https://greenspringadvisors.com/greenstream-podcast

    Follow on Apple Podcasts: https://podcasts.apple.com/us/podcast/greenstream/id1795467982

    Follow on Spotify: https://open.spotify.com/show/26NYX6WD7godcJAYVE0Yk8?si=Qxj-H7HiRdGmbNlW8uuV9g

    Meet with Pat & Marcus: https://outlook.office365.com/book/MarcusCalendaratGreenspringAdvisors@Greenspringos33.onmicrosoft.com

    Sources:

    1 Do Stocks Outperform Treasury Bills? by Hendrik Bessembinder :: SSRN https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2900447

    2 JP Morgan’s The Agony and The Ecstasy (2021) https://privatebank.jpmorgan.com/nam/en/insights/latest-and-featured/eotm/the-agony-the-ecstasy

    3 JP Morgan’s The Agony and The Ecstasy (2024) https://privatebank.jpmorgan.com/nam/en/insights/markets-and-investing/ideas-and-insights/the-agony-the-ecstasy

    4Extreme Stock Market Performers, Part I: Expect Some Drawdowns by Hendrik Bessembinder :: SSRN https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3657604

    5 Petajisto, Antti, Underperformance of Concentrated Stock Positions (June 30, 2023): https://ssrn.com/abstract=4541122

    6 Fama, Eugene F. and French, Kenneth R., A Five-Factor Asset Pricing Model (September 2014): https://ssrn.com/abstract=2287202

    7Harvey, Campbell R. and Liu, Yan and Zhu, Caroline, …and the Cross-Section of Expected Returns (February 3, 2015): https://ssrn.com/abstract=2249314

    8 The Three Ways To Beat The Market | Greenstream #2: hhttps://youtu.be/XeGNGWNbF-8

    9 Asness, Cliff S. and Frazzini, Andrea and Israel, Ronen and Moskowitz, Tobias J. and Moskowitz, Tobias J. and Pedersen, Lasse Heje, Size Matters, If You Control Your Junk (January 22, 2015): https://ssrn.com/abstract=2553889

    10 Rizova, Savina and Saito, Namiko, Investment and Expected Stock Returns (July 8, 2020): https://ssrn.com/abstract=3646575

    Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results.
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    57 min
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