AIPIS 111 – Applying Chess Strategies to Investing with Douglas Goldstein, Author of Rich As A King

Many people believe the key to winning at chess is the number of moves the player is able to see in advance, but the masters will tell you it is not the case. The key to winning at chess and investing is constantly re-evaluating the moves you anticipate making. If you are truly interested in improving your financial portfolio, you should be ingesting every piece of free financial information available to you. Amateurs at both chess and investing can win by making small, incremental changes to their knowledge-base and income level.

Key Takeaways:

[2:58] One piece of good advice can help you win the game

[6:34] Constantly re-evaluating your portfolio is more important than thinking about future moves

[8:25] Don’t make a move with your money if you don’t have to make a move

[10:06] Behavioral finance - People get overconfident in their decision-making abilities

[14:00] Any investment without income is a speculation

[15:14] Small advantages are worth the risk

[20:43] What exactly are Zero Coupon Bonds?

[23:01] Physical securities need to be validated before selling

[24:10] Take advantage of every free piece of information available

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