Episode 4: A Lot of Meaning and a Lot of Impact

In 2008, the market was going bananas. Before that time, people viewed homeownership as the unshakable bedrock of middle-class society. Dave Goetsch and Norm Mindel look back at the financial crisis and the dramatic effect it had on investors. At a time when waiters were touting their million-dollar real estate transactions after reading the day’s specials, hindsight is 20/20 the market was on course for an adjustment. Dave and Norm consider the crisis, the comeback and the power of investors to persevere.

“I can’t imagine retiring … I don’t golf, so what am I going to do?” — Norm Mindel

“For me, rewarding work is maximizing meaning and impact. So, if you have a lot of meaning but not a lot of impact, that’s not great. If you have a lot of impact but not a lot of meaning, it’s not great, but if you can have a lot of meaning and impact, then you are in the sweet spot.” — Dave Goetsch

More About the Topics Discussed in This Podcast

John Rothchild, “When the Shoeshine Boys Talk Stocks It Was a Great Sell Signal In 1929. So, What Are the Shoeshine Boys Talking About Now?Fortune, April 15, 1996.

Caroline Valetkevitch, “Key Dates and Milestones in the S&P 500’s History.” Reuters, May 6, 2013.

Julie Verhage, “These Charts Show the Astounding Rise in Passive Management.” TheMoneyStreet.com (originally appeared on Bloomberg), December 30, 2015.

Episode 3: Grief and Aggravation: The Tech Bubble

Under pressure. In the late 1990s, we were on the verge of an internet bubble that momentarily taught people the meaning of fly by night. Investors were taking big risks on individual stocks and untested (and sometimes unstaffed) internet companies. A sock puppet dog going door to door to deliver pet food? Dave Goetsch and Norm Mindel discuss the tech bubble, Y2K and the years leading up to the financial crisis. In the topsy-turvy ‘90s and ‘00s, bubbles were bound to pop.

“If your portfolio has no volatility in it, something’s wrong.” — Norm Mindel

“There’s a different way to invest that doesn’t make your head explode and you’re not going to have to watch CNBC all the time and read The Wall Street Journal unless you want to do it for pleasure. There’s a whole different way to go.” — Dave Goetsch

More About the Topics Discussed in This Podcast

Robert McMillian, “Turns Out the Dot-Com Bust’s Worst Flops Were Actually Fantastic Ideas.” Wired.com, December 8, 2014.

15 Years Ago: Americans Look to the Amish Amid Y2K Fear.” CBS News, January 1, 2015.

Molly Redden, “The New York Stock Exchange Has a Long History of Shutdowns.” Mother Jones, July 8, 2015.

Episode 2: Finishing Is Winning

Crash, boom, bang! The sounds of Wall Street in the 1980s. Dave Goetsch and Norm Mindel discuss the years leading into the 1990s, which provided more than one defining moment in financial history. Dave and Norm recall what it felt like to live through the market crash of October 1987 and the days when Japan emerged as an economic force to be reckoned with before the bubble burst. When the neon landscape eventually faded to flannel, the door was open for asset allocation and a disciplined approach to investing. With the help of a globally diversified portfolio, finishing is winning.

“My best role as an advisor is to get the client to finish the race. You know, winning isn’t the most important. You’ve got to finish the race.” — Norm Mindel

“Somebody once described it as you’re essentially investing in humanity. If the world ends, you’re not going to do very well.” — Dave Goetsch

More About the Topics Discussed in This Podcast

Wallace Witkowski, “10 Lessons From the Market Crash of 1987.” MarketWatch.com, October 19, 2012.

Robert L. Cutts, “Power From the Ground Up: Japan’s Land Bubble.Harvard Business Review, May-June 1990.

Martin Fackler, “Take It From Japan: Bubbles Hurt.New York Times, December 25, 2005.

Norm Mindel, Wealth Management in the New Economy. John Wiley & Sons, Inc., 2010.

Episode 1: The Fallout From All Those Shelters

Investing by the decade…first stop, the ‘70s. Dave Goetsch and Norm Mindel discuss investing in the late 1970s when Jimmy Carter was president, Johnny Carson was the host of “The Tonight Show” and the Bee Gees were all over the Hot 100 Billboard chart. The United States was dealing with the fallout from the oil crisis and a stock market that showed no signs of life after a significant market decline in 1973-1974. Talk about learning a lesson on free markets.

“I don’t think you get wisdom, which I hope I have some at this point in my life, unless you’ve had several sort of learning moments. What I’m trying to do and what I want to share with the audience is what those learning moments mean and maybe help people not make the same mistakes.” — Norm Mindel

“I think it’s so different now in terms of the [investing] choices that you have, and there’s so much more transparency and accountability. But that feeling still certainly a lot of people have and is kind of justified from back in the day.” — Dave Goetsch

More About the Topics Discussed in This Podcast

Greg Myre, “Gas Lines Evoke Memories of Oil Crises in the 1970s.” NPR.org, November 10, 2012.

Jim Powell, “The Pleasures and Perils of Tax Loopholes.” Forbes, March 7, 2012.

Karen Hube, “A Harvest of Land-Related Tax Breaks.” Barron’s, February 28, 2015. (Subscription may be required)

Ed Prior, “How Much Gold Is There in the World?” BBC News, April 1, 2013.