No Week In Review video or articles this week; I didn’t find anything worth discussing, which isn’t a bad thing!!
I would argue social capital is the most valuable currency on the planet. Invest in personal relationships for the highest return.
— Charlotte Geletka #TheAdvisorWarrior (@CharlotteGelet1) January 24, 2020
Morgan Housel: Wealth Is What You Don’t Spend “he price of exercise isn’t just the workout; it’s avoiding the post-workout appetite. Same in finance. The price of building wealth isn’t just the trouble of earning money; it’s avoiding the post-earnings urge to spend what you’ve accumulated.”
Humble Dollar: Helping Them Along “When it comes to money, our children are likely to do what we do—and not what we say.”
Calibrating Capital: Gratitude In Abundance “I’m relatively convinced of something that I can’t necessarily prove. The more abundance we live in, the harder it is to be grateful. Which is kind of crazy when we think about it – the more we have, you’d think the more we have to be grateful for. I’m not sure that’s the case.”
The Irrelevant Investor: Preparing For Lower Returns “High returns probably won’t bail you out if you don’t have your financial affairs in order, but low returns are fine if you’re working with a margin of safety.”
Your Brain On Stocks: Redundancy Prevents Catastrophe “One of the big themes of NASA’s Apollo-era was that redundancy enhances safety. They learned to design systems that would function if one of the parachutes failed to operate as expected.”
Ashby Daniels: Clearing The Clutter “The list goes on, but in just the couple weeks since I purged the unnecessary, I’ve found myself significantly more focused and excited about work and life in general. The amount of “deep work” I am accomplishing is truly exhilarating.”
Bill Frezza: Build Your Own Intellectual Oasis “My objective was to collect a group of people, all known to me though not necessarily to each other, with diverse backgrounds and perspectives who I believed were capable of engaging in intelligent and well-informed civil discourse. “
Ramp Capital: Eight Things I Never Knew About Jack Dorsey“It was definitely a fun read and I would recommend it. In a way, it reminded me of The Accidental Billionaires. The chapters are very short which makes it easy to pick up and put down if you only have a few minutes to spare.”
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.