Ray treats investing like a sport: start small, learn from masters, and keep a rule‑based playbook. Early exposure as a golf‑course caddy gave him a front‑row seat to market dynamics, shaping his lifelong learning habit. Structured decision‑making and continuous iteration turn a hobby into a disciplined investment career.
View full episode →“Intuition is a subconscious aggregation of relevant data, not a mystical ability”
“Out‑of‑sample R‑squared in finance is typically 0.03‑0.04, indicating very low predictive power”
“Confirmation bias, recency bias, and gambler’s fallacy are amplified when traders over‑interpret small sample results”