Crawling Road Podcast - Episode 1

[craigr]

I missed Harry Browne and John Chandler’s old radio show so much that I decided to do my own. It’s big shoes to fill but I’ll try my best. Look to the future as I’ll have on special guests and co-hosts that I’m sure you’ll enjoy. This show I introduce myself and discuss my investing background. I also review Harry Browne’s 16 Golden Rules of Financial Safety.

Here is the feed URL so you can subscribe in iTunes:

https://web.archive.org/web/20160324133 ... dcasts.xml

Here is the direct link to the first show:

Crawling Road Money Show – Episode 1

[foglifter]

Craig, great show. Now I can put a voice behind the name 
I think this is a good idea to continue HB's show and you're perhaps one of the most qualified people to do that.

Looking forward to the next show!

[D]

Listening... half way thru... great show!

[upside]

Excellent idea! Really looking forward to this.

[melveyr]

I just finished listening to the show. I'm excited to hear you really get into the meat of the PP! Great job.

[Snowman9000]

Pretty neat.  And now I know what crawlingroad means! 

[craigr]

Pretty neat.  And now I know what crawlingroad means! 

Yes. I'm not that original. But someone recently figured out it was an anagram of my name so you don't win the prize.

[Lone Wolf]

Excellent work, Craig!  Very exciting.  You've got a knack for broadcasting.  Great content so far and all the depth of understanding of the PP principles that I expected.

I also very much enjoyed the familiar intro music.  I think you should add some commercials advertising your new book for "only $9.75" that I can "read on your computer screen or print it out and read it in your easy chair." 

[Storm]

Great podcast Craig.  I really enjoyed listening to your background as a startup founder.  I actually found this website from a link on http://news.ycombinator.com so I'm pleasantly surprised that you have a tech founder background, especially computer security which is one of my interests.

Keep 'em coming!

[craigr]

I have a soft spot for start-ups. They are a lot of work but you learn a tremendous amount being involved in them.

[6 Iron]

Craig, I think this is a fantastic idea, but I hope that you do not change the theme music. I really enjoyed the first episode. I also like the idea of you and Tex having a discussion in this format.

Out of curiosity, how many have listened so far?

[foglifter]

I'm in computer security too. I wonder if one's occupation is an influential factor in understanding and embracing Harry Browne's investing ideas.  ;D

[craigr]

Craig, I think this is a fantastic idea, but I hope that you do not change the theme music. I really enjoyed the first episode. I also like the idea of you and Tex having a discussion in this format.

Out of curiosity, how many have listened so far?

I don't know how many have listened. We'll just keep plugging away and see how it goes.

[craigr]

I'm in computer security too. I wonder if one's occupation is an influential factor in understanding and embracing Harry Browne's investing ideas.  ;D

It may be. I saw so many things break in so many random and unpredictable ways that I just don't trust anything. I want empirical evidence and then research into how failures could occur. I then want to stress things to see if/how they break. I never want to make any assumptions. Even after I still always expect something to break no matter how well it's been tested. It's just what I saw in the industry over and over again and what I see in the investing world. Things are just too unpredictable. I want to have money widely diversified across assets that have very little in common with each other to deal with problems when they happen.

[Coffee]

I'm not in computer security, but I found it interesting that you were into the wilderness survival training.  I read Neil Strauss's "Emergency" and felt his life had pretty much modeled mine.  I wonder how many others here are into the same stuff?

[KevinW]

This is great!  I read Browne's books and listened to the show archives multiple times, and still found myself wanting more PP media.  I expect your podcast to scratch that itch.  Thanks.

FWIW I've been on the other side of the industry, creating the software that's supposed to be secure.  I found the same thing, every moving part is an opportunity for mischief, so 99% of the time the simplest possible solution is the best solution.  Simple code is also cheaper to produce and easier to maintain.  There is a time and a place for complex heavy machinery, but it's actually pretty rare.

As I understand it, Browne and Coxon were already experienced financial advisors when they invented the PP.  They knew how messy things get out in the real world and how human nature can cause investors to shoot themselves in the foot.  I think anyone who makes things that need to last out in the real world is predisposed to appreciate the bulletproof, simple, humble attitude underpinning the PP.  Which is why it seems to appeal to engineers and business owners, among others.

[MadMoneyMachine]

I'm in computer security too. I wonder if one's occupation is an influential factor in understanding and embracing Harry Browne's investing ideas.  ;D

Hmmmmm, now that you mention it, I remember that I was CISSP certified several years ago...

Wierd.

[smurff]

I'm in computer security too. I wonder if one's occupation is an influential factor in understanding and embracing Harry Browne's investing ideas.  ;D

Hmmmmm, now that you mention it, I was CISSP certified several years ago...

Wierd.

And I was a design engineer when I first started working...

[Jan Van]

That was a fun and interesting podcast, Craig! Thanks! Looking forward to your next one. So it has been added to DoubleTwist (now I'm using Android :-)

[craigr]

This is great!  I read Browne's books and listened to the show archives multiple times, and still found myself wanting more PP media.  I expect your podcast to scratch that itch.  Thanks.

FWIW I've been on the other side of the industry, creating the software that's supposed to be secure.  I found the same thing, every moving part is an opportunity for mischief, so 99% of the time the simplest possible solution is the best solution.  Simple code is also cheaper to produce and easier to maintain.  There is a time and a place for complex heavy machinery, but it's actually pretty rare.

With investments I'm especially wary of complex products. The details can conceal many unknown risks. I had one broker trying to sell me on some investment idea (stock collars and technical analysis) that came accompanied with about 15 pages of disclosure statements. This was before you even got to the meat of the matter. I couldn't make heads or tails of what was going on and I'm not exactly a neophyte. I followed my five minute rule and got the heck out of there as soon as I could.

I think anyone who makes things that need to last out in the real world is predisposed to appreciate the bulletproof, simple, humble attitude underpinning the PP.  Which is why it seems to appeal to engineers and business owners, among others.

Quite true. I want something simple where I can understand the risks of each part very clearly. I expect surprises to happen, but I don't want it to be something that could have been prevented just by avoiding complicated designs.

[MeDebtFree]

I'm in computer security too. I wonder if one's occupation is an influential factor in understanding and embracing Harry Browne's investing ideas.  ;D

Hmmmmm, now that you mention it, I was CISSP certified several years ago...

Wierd.

And I was a design engineer when I first started working...

Let the relative strength of technical professionals who think highly of HB/PP continue....

I have BEE and MSCS degrees and have been an electrical/software design engineer for (perhaps too) many years.

Does the 'birds of a feather...' saying come to mind?  ;D

[Snowman9000]

All you nerds are scaring me.   

My background is marketing, which as a recent Dilbert strip noted, is "just liquor and guessing". 

[Storm]

It makes sense that an internet forum discussing investment techniques might be heavily skewed towards technology workers, but there is something more here.

I think a good deal of us here are engineers or tinkerers in some sense of the word:  electronic, software, mechanical, or otherwise.  When you study and practice engineering you begin to collect real world experience that teaches you some fundamental things, like KISS (keep it simple, stupid), and "if it ain't broke, don't fix it".  Beyond that, I do believe engineering and programming especially instills in you the desire to learn how things work at a more basic level.  Whether this is financial markets, or investing, or even things like car repair.

Another thing I've learned is that 90% of everything is crap.  This applies to any profession.  It scares me to think of 90% of the doctors or medical professionals being terrible, but this is the reality in every field I've seen; I don't see why it would be any different for finance.  So, I think people that think like engineers and question everything are more likely to seek out alternative investment strategies like the PP.

[Wonk]

I'll chime in and say congrats to Craig on podcast #1--excellent job.

I'm also intrigued by the number of tech-types drawn to the PP.  Although, I do think the explanation is pretty simple--it all hinges on a logic-based thought process which is predominantly left-brain focused.  Math and logic are interrelated so its not a surprise that engineers and programmers think similarly.  To that end, the logic of the permanent portfolio is about as bullet-proof as it gets in the investment world.

Additionally, dominant "left brain" types are typically rationally risk averse whereas "right brain" types are typically irrational risk takers.  This is, of course, a generalization--but rooted in the aggregate. 

One more theme is that logic and reason are intertwined, which touches on the libertarian philosophy that Harry Browne espoused.  I think there's a very clear connection between logic-dominant folks and the PP. 

As a side note, this is regrettably one of the reasons my father in law is destined for financial disaster.  He is decidedly "right brain" oriented, completely irrational, and the type of blind risk taker that would make pit traders blush.  He toys with his 401k money like gambling chips at the casino--trading in and out on hunches.  I had his attention for about 5 minutes when I tried talking to him about the PP.  Such is life...

[Pkg Man]

Just listened to the podcast.  Great job Craig, you're a natural!