Sound Investing · Paul Merriman

The Biggest Mistake Investors Make

·38 min·3 clips
Nick Murray argues that moving to bonds in retirement is an atrocity, sacrificing half your long-term equity returns.
Paul Merriman discusses the biggest mistake investors make, focusing on the debate over equity vs bond allocation in retirement. He critiques Nick Murray's all-equity stance by highlighting historical risks, emotional factors, and balanced strategies like the 60-40 portfolio, while also analyzing current market trends in international and small cap value investments.

As heard by us

The bigger risk may be trusting the wrong investing advice.

It frames the core investing mistake as a matter of trust, not just the usual habits people blame, and that angle gives the piece its edge. The discussion moves through index-fund discipline, the limits of leaning on past results, and the 60/40 versus S&P 500 comparison, which…

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Why you'd press play

You get a calm case for trusting your process before you trust the market's memory.

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