Weekly Mixtape For January 24th, 2021

The WSJ: Joe Biden Calls on Nation to ‘Start Afresh’ at Inauguration as 46th President

The WSJ: Trump Impeachment Trial to Start Week of Feb. 8

The WSJ: U.S. Business Activity Gains at Start of Year

The WSJ: U.S. Existing-Home Sales Reach Highest Level in 14 Years

Morgan Housel: Personal Finance Philosophies “There are few universally right answers. Just lots of shades of gray that work for people’s unique personalities and situations. A lot of finance arguments happen when people get upset after realizing that not everyone has, or wants, the same life as you.” 

Kyle Moore: When The Future Never ComesFinancial planning is a never-ending balance between living for today vs. planning for tomorrow. We don’t know what life will bring our way, but it’s better to prepare and not have needed, than need and not have prepared. While we can’t escape planning for our futures, we must do so with balance and a reverence for the present moment, for we aren’t guaranteed a tomorrow.”

Calibrating Capital: Why Do We [Truly] Do What We Do? “As I said in my own example, I think it’s possible to still do good work even with the existence of the Nefarious Why. However, we need to ensure that the Noble Why is the one in the driver’s seat, and the Nefarious is in the backseat – or even the trunk.”

Of Dollars And Data: 10 Investing Lessons from 2020 “If 2020 taught me anything, it was what the late Jack Bogle was fond of saying, “Nobody knows nothing.”  Of course, predicting the future is always hard, but 2020 illustrated to us just how difficult it can be. If you would’ve told me that U.S. stocks would rise over 10% in the same year as a global pandemic, I wouldn’t have believed you.  But that’s what makes markets so complex and mystifying, especially in 2020, a year unlike any other.”

Brett Koeppel: Trust the Process: What You Can Learn About Retirement Planning From the Buffalo Bills “In the early years, fans heard “Trust the Process” so often from Sean McDermott that it became a running joke around town. The belief is that by taking the right reps and doing the right things consistently, the results would come over time.”

Simon Tryzna: Mosaic Theory “While I’m not building valuation models for individual stocks or making any stock recommendations, I think this analysis method is essential in making informed decisions. There are many places for investors to get information from on the internet – I urge everyone reading this to not fall in love with one or two and follow their recommendations blindly.”

A Wealth Of Common Sense: Getting Your Stock Picks From Podcasts “I didn’t perform any due diligence on Spotify’s business or look through the financial statements or anything approaching the work of an actual analyst. I simply bought it because I was impressed with Ek’s vision for the future of the company and his humility as a leader.”

Retirement Field Guide: Real Return Is All That Matters “So, if inflation has been about 3%, then the real return for each asset class has been 7% for equities vs. just 2% for bonds. That means that equities haven’t outpaced bonds by 2X, but by 3.5X! “

Brett Fellows: Investor Heuristics–5 Biases To Watch Out For When Making Financial Decisions “However, these mental shortcuts don’t always serve us when making complex decisions. Indeed, heuristics aren’t supposed to result in optimal decisions, but rather “good enough” decisions given a limited timeframe. That’s why it’s important to recognize them at play and keep them in check, especially when faced with information meant to appeal to our instincts, not our intellect.”

The Irrelevant Investor: Resist The Temptation “If you feel like you’ve missed a once in a lifetime opportunity, then welcome to the stock market. These types of episodes have happened before and are sure to happen again.”

The Reformed Broker: re: Trumpless Twitter “There has never been a lower ratio of financial success to global impact in the history of business. In this regard, Twitter has truly managed to pull off a feat for the ages.”

Brian Lund: There Are Levels To This Game “And just like in poker, you can’t tell the difference between Level 0 and Level 4 thinking.”

Thomas Kopelman: Build Wealth…Your Way “This is why it can be dangerous to listen to people you know and blindly take their advice on the ways they choose to build wealth. Just because something worked for them does not mean it will automatically work for you. We are all on a different journey to reach a different destination.”

All About Your Benjamins The Podcast: Tyrone Ross and Finding Purpose With OnRamp

All About Your Benjamins The Podcast: The Pursuit

All About Your Benjamins The Podcast: The Pursuit With Josh Brown–Giving With No Expectations

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.