Steve Clapham is an ex-hedge fund analyst and the founder of Behind the Balance Sheet, an investment research and training consultancy firm. 🤝 Improve your finances with our adviser service - book free consultation: https://makingmoney.email/financial-advisors-video 🎉Sponsors Vanta - Get secure and compliant with $1k off: https://vanta.com/makingmoney. Manual - Get help with your hair loss with 55% off using the code ‘MM55’: https://makingmoney.email/ukb43j ✉️ Newsletter If you want a summary from this episode in an easy format, please subscribe to our newsletter: https://makingmoney.email/S4E10 Disclaimer: This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life. Chapters: 00:00-00:34 - Intro 00:34-05:28 - Can you do better than passive investing? 05:28-12:23 - How much research does a professional investor do? 12:23-18:47 - Why professional investors struggle to beat the market 18:47-- 24:40 - Diversification 24:40-25:27 - Vanta Ad 25:27-31:07 - Steve’s portfolio and active funds 31:07- 35:30 - What is the most sensible thing to do? 35:30-36:27- Manual ad 36:27-40:43 - How much time do you need to spend on research? 40:43-50:07 - Why the next 100 years of market returns may not be the same as the last 50:07-57:54 - How to know good information from bad 57:54-01:01:11 - Book recommendations 01:01:11-01:01:58 - Financial coaching 1:1