Our guest on the podcast today is Nick Murray. Nick has written several influential books about investing and financial advice, including The Game of Numbers, Simple Wealth, Inevitable Wealth, and his latest, This Time Isn’t Different. His newsletter for financial advisors is called “Nick Murray Interactive,” and he also frequently leads seminars for financial advice professionals. Nick started out at EF Hutton, then moved on to Shearson and eventually to Bear Stearns. Since then, he has built his career around advising financial advisors.

About Nick Murray

Nick Murray Interactive newsletters

This Time Isn’t Different: Shockproofing Our Clients

The Game of Numbers: Client Acquisition for Financial Advisors 2010

Simple Wealth, Inevitable Wealth

Nick Murray’s Scripts: What to Say and How to Say It

Behavioral Investment Counseling

Talking It Over, Just The Two Of Us: A Guide for the Financial Advisor’s Life Partner with Joan Murray

Around the Year with Nick Murray: Daily Readings for Financial Advisors

“Financial Advisor Nick Murray,” Bloomberg Masters in Business podcast by Barry Ritholtz, Aug. 7, 2015

“The Man Who Saved My Career: How Nick Murray came along and showed me my true purpose in this business,” by Josh Brown, downtownjoshbrown.com, May 21, 2024

“The Value Proposition of a Financial Advisor With Nick Murray,” The Unlock podcast, May 21, 2024

“The Golden Door For Financial Advice With Nick Murray,” The Unlock podcast, May 31, 2024

“My Financial Planning Heroes: Nick Murray,” by Juniper team, juniperwealth.co.uk/blog, Jan. 1, 2025

“Nick Murray’s Hard Truths for Advisors” by Jane Wollman Rusoff, thinkadvisor.com, March 5, 2015

“Lessons Learned From the Legendary Financial Advisor Nick Murray,” Think Smart With TMFG podcast, Oct. 14, 2022

“Murray: Financial Healing,” Consuelo Mack Wealthtrack, May 6, 2016

Bio

“Charley Ellis: Why Active Investing Is Still a Loser’s Game,” The Long View podcast, Morningstar.com, May 27, 2020.

Rethinking Investing: A Very Short Guide to Very Long-Term Investing

Winning the Loser’s Game: Timeless Strategies for Successful Investing

“Stock Pickers Are on a Record Run With Investors. Don’t Be Fooled, Says Index Fund Guru,” by Jason Gewirtz, cnbc.com, Feb. 14, 2025.

“Investment Costs Make a Huge Difference,” by Robin Powell, ifa.com, Feb. 17, 2025.

ETF Edge interview with Charley Ellis, cnbctv, Feb. 10, 2025.

Regulation Fair Disclosure

Alfred Marshall

Thinking, Fast and Slow, by Daniel Kahneman

Today on the podcast we welcome back Cliff Asness. Cliff is the founder, managing principal, and chief investment officer at AQR Capital Management. Cliff writes often about investing and financial matters on AQR’s website and has been a prolific researcher throughout his career, with his contributions appearing in many of the leading scholarly journals, including the Journal of Portfolio Management, Financial Analyst’s Journal, the Journal of Finance, and the Journal of Financial Economics. Before co-founding AQR, Cliff was a managing director and director of quantitative research for the asset management division of Goldman Sachs. Cliff Asness, welcome back to The Long View.

Bio

@CliffordAsness

“Cliff Asness: Value Stocks Still Look Like a Bargain,” The Long View podcast, Morningstar.com, May 31, 2022.

“2035: An Allocator Looks Back Over the Last 10 Years,” by Cliff Asness, aqr.com, Jan. 2, 2025.

“(So) What If You Miss the Market’s N Best Days?” by Cliff Asness, aqr.com, June 5, 2025.

“Why Not 100% Equities,” by Cliff Asness, aqr.com, Feb. 12, 2024.

“Exceptional Expectations: US vs. Non-US Equities,” by Antti Ilmanen and Thomas Maloney, aqr.com, Q2 2025.

“In Praise of High-Volatility Alternatives,” by Cliff Asness, aqr.com, Sept. 4. 2024.

“Should Hedge Funds Hedge?: Why Some Alts Should Have a Beta of 1.0,” by Cliff Asness, aqr.com, March 28, 2025.

“We Have ‘Surrendered More to the Machines,’ Says Quant Fund Titan Cliff Asness,” by Costas Mourselas and Amelia Pollard, ft.com, June 3, 2025.

“CIO Perspectives: An Interview With Cliff Asness,” aqr.com, Sept. 1, 2024.

WisdomTree

“AQR Launches the AQR Fusion Mutual Fund Series,” AQR Funds News, aqr.com, June 25, 2025.

Asian Financial Crisis