Weekly Mixtape For July 26th, 2020

Week In Review Articles

The WSJ: Rise in Weekly Unemployment Claims Points to Faltering Jobs Recovery

The WSJ: U.S. Existing-Home Sales Rose 20.7% in June

The WSJ: European Union Leaders Agree on Spending Plan for Recovery

The WSJ: China Orders U.S. to Close Chengdu Consulate as Payback for Houston Move


Weekly Mixtape

Morgan Housel: Good Things Taken Too Far “But when optimism is taken so seriously that it assumes things will never be bad – that every period long or short will work out in your favor – it turns into complacency. It encourages leverage and promotes denial. It leaves you without backup plans. Worst, it causes you to wrongly second-guess your long-term optimism when faced with an inevitable setback.”

Farnam Street: Appearances vs Experiences: What Really Makes Us Happy “It’s an old adage that experiences make us happier than physical things. But knowing is not the same as doing. One area this is all too apparent is when it comes to choosing where to live. You might think that how a home looks is vital to how happy you are living in it. Wrong! The experience of a living space is far more important than its appearance.”

Khe Hy: What’s That Next Dollar Worth To You, And What Are You Giving Up To Get It? “Jarvis suggests that our egos set us up for failure—and ultimately unhappiness—by failing to “look at the bigger picture and think about the impact of such growth on our personal lives, or even on the type of work we enjoy doing.””

Phil Pearlman: Awareness To Action “Self-awareness is necessary but not sufficient for change. It’s not even always necessary. Plenty of people out there living their best lives who seldom self-reflect.  Meanwhile, the world is filled with people who are excruciatingly aware of their own self-defeating behaviors yet can’t seem to make adaptive changes. It can be frustrating.”

RLS Wealth: Passion Becomes Purpose With A Plan “You will be passionate about your purpose, but not all passions will be your purpose.”

Simon On The Street: When Was The Last Time “Investing without a purpose can be detrimental to one’s long term financial goals.”

The Irrelevant Investor: Why Everyone’s Trading “One of the tell tale signs of every market top is when people who know nothing about investing are making more money than the seasoned veterans who are scratching their heads. “

A Wealth Of Common Sense: How Millennials Can Close the Generational Wealth Gap “Personal finance touches so many aspects of your life that it’s imperative you spend some time putting the right financial systems in place. If you don’t get your financial house in order your life will always be more stressful than the alternative.”

The Retirement Field Guide: Why Study Market History? “A major part of successful equity investing – especially during times of heightened uncertainty – is having the proper perspective and that means looking far enough into the future with faith that things will get better. So, I think the very simple question from Mr. Danoff is appropriate, ‘Are things getting better, or are they getting worse?'”

Thomas Kopelman: Budgeting 101 ” The goal of budgeting is not to restrict your lifestyle. Rather, the goal is to help us become aware of our behaviors. To understand and see how we spend money, and to see if the way we spend money is aligned with what is most important to us.”


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