Week In Review Articles
Please stop taking financial advice from billionaires. The amount of risk they can withstand is incomprehensible. What works for them will probably not work for you. And that is okay.
Also they probably have an un realistic view on life because they are a BILLIONAIRE.
— Odaro Aisueni (@THEODARO) August 16, 2021
Morgan Housel: Hanging By A Thread “One is to base your predictions on how people behave vs. specific events. Predicting what the world will look like in, say, 2050, is just impossible. But predicting that people will still respond to greed, fear, opportunity, exploitation, risk, uncertainty, tribal affiliations and social persuasion in the same way is a bet I’d take.”
The Reformed Broker: The Best Decision I’ve Made In Years “So, I decided, I’m just going to do my stuff for the people who like it, and not worry about what some phantom audience that isn’t even paying attention might think. I decided to stop being everywhere, all over the place, in everyone’s faces all the time. I shrank the size of the footprint to grow the quality of the content and the engagement with my real audience. It’s hard to find my commentary these days unless you’re looking for it. I’m giving more to you and nothing to anyone else.”
Of Dollars And Data: The Best Advantage In Life “However, I do think that their parents’ wealth provided them with a bigger opportunity set for success. Corey Hoffstein often says that in order to succeed in life you should try to “maximize your surface area of luck.” He means that you should meet more people, try new things, and build new skills in order to expand what opportunities come your way. Having rich parents is the easiest way to do this. However, it isn’t a guarantee for success.”
Bps and Pieces: We Can Rebuild Him “In many respects, I have gotten out of bps and pieces everything I could have imagined and then some since my first post on June 8th, 2016. I’ve forged some great friendships and relationships. I’ve built a respectable presence on social media. I’ve elevated my professional profile in an industry that I love. And I’ve checked off a bucket list item with the publication of my book.”
The Irrelevant Investor: Why I Took Money Out Of My House “I want to be very clear that this is a risky strategy, and it’s not for everyone. For most people, their house is their largest asset. The forced savings mechanism of a mortgage is a wonderful thing. But I’m reasonably confident that I will come out financially ahead. And even if I don’t, I’ll be okay. I can take this risk because I’m conservative with my savings and investing.”
Humble Dollar: Million Dollar Dream “I figured that our lifestyle, including our foreign travels and occasional splurges, would be the same even if my paychecks stopped prematurely. On the flip side, we wouldn’t be able to upsize to a bigger house—a dream my wife had cherished for some time. Still, she insisted that I move forward with my early retirement plans.”
Seth Godin: Speed Bumps “Often, the only difference between a speed bump and an obstacle is our decision about which one it is.”
Thomas Kopelman: 5 Best Investments Tips For Young Professionals “Too many people think they are an investment guru and can understand when the market is at the top and or bottom, but in all reality they can’t. You spend way too much time trying to decide when to sell or when to buy back in and oftentimes end up missing some of the best days in the market”
Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.