“Being a pessimist and betting against the human spirit is like a multi-century, arguably multi-millennia losing bet.”
The Stacking Benjamins Show · Money & Markets · November 2026
Context
The host raised the 'this time is different' argument. Lazaroff says the world will change but human behavior won't, and that buying stocks is a bet on people wanting more and better.
Transcript
That's right.
You should expect it to be different, but it doesn't mean that the outcome to your portfolio is going to be any different.
…going to change is human behavior and the fact that most of human progress is based on the fact that we get out of bed and we want more. Maybe not everybody, but as a group, we want more, we want better. And that's like when you're making an investment in the stock market, that's really what you're betting on: you're betting on the human spirit. And it's a really, really powerful thing. And being a pessimist and betting against the human spirit is like a multi-century, arguably multi-millennia losing bet.
But it's also a great way for media people to make money.
For sure.
Because of the way that we're built. To what if, what if I step on it? You know, you make this great argument around diversification, proper diversification. If diversification is working right, should there always be a part of my portfolio that's driving me nuts?
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