Podcasts

Andrew Craig on how to win at investing

Episode 90: GoldMoney’s Dominic Frisby interviews financial expert Andrew Craig of Plain English Finance – author of the book Own The World. They talk about the importance of financial education and how paying attention to a few simple principles can drastically boost your investment returns.

Craig explains that investing can be a lot easier than commonly thought. Many people are their own worst enemies though, due to a lack of basic financial literacy. While skills like driving a car are taught at a young age, personal finance unfortunately remains a blind spot for many people. One manifestation of this is people’s failure to save enough for retirement; insufficient pension provisions are a major problem in developed economies.

He goes on to explain the principles that most people can use as a means of stripping out advisory costs, and illustrates the powerful nature of compound interest. Financial products have never been cheaper at any point in history, which enables average people to engage in global diversification. As official inflation statistics are massively understating true inflation, Craig emphasises the importance of owning precious metals – which he thinks have a very bright future.

This podcast was recorded on 17 January 2013.