The speaker explains how there are investments made for optimizing financial ROI and others for optimizing different things. He offers a personal example of buying real estate and using mortgages, highlighting the importance of changing financial decisions as circumstances change.
Successful investing is not just about using analytical tools but also about making good decisions, which requires an anti-social component and the fortitude to stick with a position.
Andrew reminisces a personal finance book he read 15 years ago, which taught him to focus on saving money on percentages, not on minor expenses like lattes.
The speaker discusses the importance of self-discipline for both driven and non-driven individuals, and how opening a bookstore helped them achieve their goals.
The speaker wants to know the opinions of financial experts, such as Mary Catalina Erdos, Ray Daly, and Jack Bogan, on the extreme nature of high frequency trading that is described by authors like Michael Lewis.
The guest speaker discusses the best investment decisions he has ever made in terms of allocating his time and resources. He mentions that not pursuing clinical medicine was his best decision which allowed him to work on 'real stuff'.