by Lance Roberts
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| William Bernstein’s principle, “once you’ve won, quit playing,” is about protecting capital, not chasing more. Most investors give back gains by taking extra risk after success. When you’re up big, lock in profits, reduce exposure, and preserve what you’ve earned. You don’t have to exit completely, but you do need to shift from aggressive growth to disciplined risk management. 📺Full episode: Catch me daily on The Real Investment Show: https://www.youtube.com/@TheRealInvestmentShow |
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2-7-26 The Rise of Passive Flows and What It Means for Returns
2026-02-07
For the past 15 years, shallow dips and fast recoveries taught investors that risk management doesn’t really matter. That complacency won’t last forever.
Markets may stay supported this decade by liquidity, speculation, and passive flows, but the longer term points to more volatility and lower returns.
ETF growth funnels capital into the same stocks, creating a performance-chasing loop.
As assets become financialized, arbitrage compresses volatility and outsized gains, turning once-exceptional returns into more normal ones.
📺Full episode:
Catch me daily on The Real Investment Show: https://www.youtube.com/@TheRealInvestmentShow
2-6-26 The Wealth-Health Gap
2026-02-06
Why do wealthier households tend to live longer and experience fewer chronic diseases? Richard Rosso & Jonathan McCarty break down the Wealth-Health Gap—how income, savings, and environment shape health through housing quality, access to care, and financial resilience. We also flip the lens: poor health can reduce earnings, drain savings, and create a vicious cycle that widens disparities across generations. Finally, we discuss systemic factors that amplify the gap and practical policy ideas aimed at improving both economic stability and health outcomes.
#WealthHealthGap #SocialDeterminantsOfHealth #HealthEquity #FinancialPlanning #WealthInequality
2-3-26 The Trap of Chasing Returns
2026-02-03
Most investors don’t blow up because they “didn’t know enough.” They blow up because they frame the decision wrong.
Lance Roberts & Jonathan Penn break down narrow framing—the behavior where investors judge one investment in isolation (“Why don’t I own that?”) instead of evaluating results through the entire portfolio and a long-term plan.
When something becomes “hot,” it feels obvious, safe, and inevitable. But return-chasing often ends the same way: buying after a big run, then selling after the first real drawdown. That cycle turns investing into reaction instead of strategy—headlines instead of planning, emotion instead of discipline.
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The Market Cycles Potentially Driving 2026 Returns
2026-02-02
Market cycles are once again at the center of the investment narrative as we head into 2026. The optimism is familiar as earnings held up in 2025, the economy avoided recession, and big tech lifted the indexes. However, those victories are already reflected in the price. As we head into 2026, with valuations extended, the …
The “Double Bubble”
2025-12-13
🔎 At a Glance 💬 Ask a Question Have a question about the markets, your portfolio, or a topic you’d like us to cover in a future newsletter? 📩 Email: [email protected]🐦 Follow & DM on X: @LanceRoberts📰 Subscribe on Substack: @LanceRoberts We read every message and may feature your question in next week’s issue! 🏛️ …
12-11-25 The Fed’s Surprising ‘Dovish Cut’ Explained
2025-12-11
➢ Listen daily on Apple Podcasts: The Fed delivered a far more dovish cut than markets expected.
In this short video, Michael Lebowitz and I discuss why Powell’s tone shifted, what he revealed about jobs and inflation, and why this matters for markets now.
📺Full episode:
Catch me daily on The Real Investment Show: https://www.youtube.com/@TheRealInvestmentShow
10-23-25 Behind the Dollar “Collapse” Narrative – The Real Story
2025-10-23
Despite the media noise, the dollar isn’t collapsing. The $DXY is near its long-term fair value, and foreign investors keep buying U.S. debt and equities $SPY / $QQQ – proof that global confidence in the dollar remains strong.
In this short video, Michael Lebwitz and I discuss why the “dollar crash” narrative is overblown.
📺Full episode:
Catch me daily on The Real Investment Show: https://www.youtube.com/@TheRealInvestmentShow
10-29-25 Bitcoin: Speculation, Blockchain, & the Future of Money
2025-10-22
Why has Bitcoin captured the attention of investors and innovators alike?
Lance Roberts & Vinay Gupta break down what makes Bitcoin unique — from its blockchain backbone to its role as currency, commodity, and speculative asset. We’ll explore how to think about Bitcoin in a diversified portfolio, what risks investors need to understand, and why blockchain may reshape how business is done in the future.
#BitcoinInvesting #BlockchainTechnology #FutureOfMoney #DigitalAssets #FinancialEducation
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