People who focus on money and not wealth don’t realize they’re playing the wrong game until it’s too late.
While money can be measured, wealth matters more.
— Shane Parrish (@ShaneAParrish) January 26, 2021
Morgan Housel: Why It’s Usually Crazier Than You Expect “Find a feedback loop and you will find people who underestimate how crazy prices can get, how famous a person can become, how hard it can be to change people’s minds, how irreparable a reputation can be, and how tiny events can compound into something huge. They take small trends and turn them into big trends with unforeseen momentum. And they happen in every field.”
Michael Baker: Muscle Memory–Train Yourself To Endure “I shouldn’t have to tell you that I aced that swimming test the next summer. What’s interesting is that I spent more time playing basketball than I did in the water that year. It’s weird how our goals and priorities may shift over time. That’s ok. What matters is that we always pursue them with tenacity, discipline, and excellence.”
Brian Plain: The Story We Tell Ourselves “Our lives tend to improve when we make our stories about who we want to be and not about who we used to be.”
Elliott Appel: The Economic vs. Emotional Side of Every Financial Decision – Why It’s Okay to Not Always Choose the “Smart” Financial Decision ” Our emotions play into our financial decisions, and it is wise to be mindful of how they influence them in order to make better decisions for ourselves. “
The Irrelevant Investor: Is This Legal? “When Wall Streeters take advantage of the system, it’s called capitalism, but when outsiders do it, it’s called manipulation.”
Jason Zweig: The Real Force Driving The GameStop Revolution “For all the hyperventilating over this week’s financial revolution, though, investors should regard it as the latest phase in a long evolution—and unlikely to disrupt markets overall.”
Thomas Kopelman: Federal Student Loan Forbearance Extended “At this point we do not know for sure whether this bill will be passed, but as of now, federal student loan payments are suspended until the end of September 2021.”
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.