Wall Street Journal columnist, Jason Zweig, reminds us why trying to play the stock market is like gambling at a casino. Read it here.

This podcast episode (42 minutes) is worth listening to for a variety of reasons. Most importantly, Carl Richards is one of the best in the world at connecting money and emotion in ways real people can understand. He is the creator of the Sketch Guy column, appearing weekly in The New York Times since 2010. With over 800 simple sketches, Carl knows how to get us thinking and talking about what really matters in our lives. Through his writing, speaking, and sketches, Carl makes complex financial concepts, easy to understand. His work also serves as the foundation for his two books, The One-Page Financial Plan: A Simple Way to Be Smart About Your Money, and The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money.

Matt loved taping this episode with Carl from his new home in London and counts Carl as a long-time friend.

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Matt Hall shares a hugely important concept for dealing with hard times. It’s called “The Stockdale Paradox.” It’s an extreme example and is shared because it helped Admiral Jim Stockdale survive as a prisoner of war. Our bet is that the Stockdale Paradox will serve you well during this period of uncertainty and when facing future challenges. Hill Investment Group has used the principle idea from the Stockdale Paradox since the founding of the firm in 2005, and Matt has leaned on it both personally and professionally, including when dealing with cancer, and even when writing Odds On. (Listening time: 10 minutes)

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