I will check out the Howard Marks interview. I wish I had picked up a few shares of Berkshire long ago. Buffet and Munger are icons that may not be replaced anytime soon.
Emotion is a problem for most. I watch the market too close and I am sure I too get a little emotional, but learned long ago not to over-react on it. Fear or greed will get you hurt. I see lack of education as a big problem. Pensions went away for most, replaced by 401K plans. We have young people with little idea how the markets work. Many believe they are "rigged", or at least manipulated and there is evidence to support that belief. IMO there are really only a half dozen hard and fast rules to succeed at long term index investing. But many are just clueless, and after they have a few thousand in the market they get scared when the market dips hard. It's in our best interest that the next generation not give up on the stock market.
Emotion is a problem for most. I watch the market too close and I am sure I too get a little emotional, but learned long ago not to over-react on it. Fear or greed will get you hurt. I see lack of education as a big problem. Pensions went away for most, replaced by 401K plans. We have young people with little idea how the markets work. Many believe they are "rigged", or at least manipulated and there is evidence to support that belief. IMO there are really only a half dozen hard and fast rules to succeed at long term index investing. But many are just clueless, and after they have a few thousand in the market they get scared when the market dips hard. It's in our best interest that the next generation not give up on the stock market.