Weekly Mixtape For December 22nd, 2019

Week In Review Articles

The WSJ: House Votes to Impeach President Trump

The WSJ: Pelosi to Delay Sending Impeachment Articles to Senate

The WSJ: Consumer Spending Strengthens Headed Into Year End

The WSJ: Consumer Sentiment Improved in December

The WSJ: Inheriting IRAs Just Got Complicated, Thanks to New Retirement Overhaul

Weekly Mixtape

Bob Seawright: Not Stupid Wins “Because we are so wrong, so often, and because avoiding error provides more benefit than being right does, when we have the choice between being right and being kind, we should choose kind. Every. Single. Time.”

The Retirement Field Guide: How Much Is Enough? “Enough is a powerful word. Because enough requires a feeling of satisfaction. Enough requires that you ignore the advertisements. Enough elicits feelings of a life well-lived.”

Of Dollars And Data: Climbing The Wealth Ladder “Lastly, you might argue that you shouldn’t increase your consumption with your net worth, but I would counter that some lifestyle creep can be highly rewarding in terms of maximizing your leisure time and long-term life satisfaction.  In other words, there is a lot more to life than saving money.  Live a little.”

Pragmatic Capitalism: Intangible Returns “I guess that’s the story of my life though (and probably yours). Just trying to become a better person by realizing lots of intangible positive/negative returns from life’s many lessons. In the end I think there’s some alpha there.”

Barry Ritholtz: Markets Are Up 30% YTD. Your Portfolio Is Not. Here’s Why. “Calendar returns matter much less for your personal wealth than do net gains. To understand why, consider high-water marks and troughs. Where you start doing your measuring makes all the difference.”

A Wealth Of Common Sense: What Big Stock Market Returns in 2019 Mean For 2020 “The stock market has generally gone up over time so the average returns following almost any type of market environment have been positive, on average. This doesn’t mean stocks are guaranteed to go up every year but historically, roughly 3 out of every 4 years have seen gains going back 95 years or so.”

Douglas Boneparth: Growth Stories “Everyone likes a good growth story, but the ones people love the most are those that make what once seemed impossible, possible. While Peloton, and companies like it, might turn out to be nothing more than gassed up fads made popular by an over-extended consumer driven bull market, I can promise you one thing: as long as they’re around, they, like me, won’t stop trying to grow.”

BPS And Pieces: The Ultimate 2020 Playbook “I hope and pray that no reasonable investor or allocator is actually making drastic changes to their portfolio based on the content of these outlooks, but who knows?”

Bonus– BPSAnd Pieces: The Twelve Days Of FinTwit For the Twitter fans out there!!

Fervent Finance: Goalless 2020 “Another reason why goal-setting can be silly at times is, as humans, we are incredible sandbaggers. We set goals that we know we can achieve, consciously or not. I sometimes wonder what type of outcomes we can have if we just put in effort, and try, without expectations for what will be awaiting us at the finish line.”

Jason Zweig: The Fund That Does A Lot By Doing Nothing “John C. Bogle, the late founder of the Vanguard Group, often told me he thought individual investors should buy an equal amount of two or three dozen high-quality stocks and salt them away for a lifetime. He believed many would go to zero, but if only a few turned out to be big winners they would carry the whole portfolio to an outstanding return—without any burden of fees.”

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