No Week In Review Video This Week–We Were Enjoying The Beautiful Day Yesterday And Have A Photoshoot For Mom’s Store, Roman & Leo, Today. I’ll Be Back Next Week With Your Week In Review Video!!
Week In Review Articles
The WSJ: Stocks Fall as Fed’s Powell Says Outlook ‘Highly Uncertain’
The WSJ: Nearly Three Million Sought Jobless Benefits Last Week
The WSJ: Consumer Sentiment Picked Up in Early May
CNBC: House Democrats pass $3 trillion coronavirus relief package
“Ownership is everything. Own your mind. Mind your own.” — Nipsey Hussle pic.twitter.com/vwIvNzAShz
— Visualize Value (@visualizevalue) May 17, 2020
Weekly Mixtape
Morgan Housel: Acceptable Flaws “Smart people screw up. Good people have bad days. Nice people lose their temper. Pablo Escobar expected 10% of the cash he stored in warehouses to be eaten by rats or spoiled by mold. That was if everything went well. Some downsides are unavoidable. You can push back, but they’ll never die. They’re part of life, and you might as well learn to accept them than pretend perfection exists.”
Preston McSwain: What Would My Granddaddy Say? “I can hear him saying something like this about using unobservable and highly subjective private Level III assets to compute and share performance relative to public markets only a few weeks after the end of a quarter: ‘They say something looks a certain way, but then say they can’t observe it. If it can’t be observed, how do you know what it really looks like?'”
Barry Ritholtz: Random Lockdown Observations “I used to buy everything from Amazon — they are reliable, convenient and much of the time, the cheapest. But the lockdown has me noticing prices more, and I am using Google Shopping to comparison shop. I am finding many items cheaper elsewhere, and frequently much cheaper, then Amazon.”
The Reformed Broker: 40 Million Great Depressions “The statistics are the forest. The household without an income is the tree. The tree doesn’t concern itself with how the large and wide the forest around it is. The tree spends its energy straining toward the light, standing upright, maximizing the available moisture and sustenance in its immediate vicinity.”
Of Dollars And Data: Why Liquid Net Worth Is So Important For Your Finances “Liquid net worth is a far better measure of your ability to react to financial shocks and financial opportunities than net worth.”
John Geffert: Becoming An Army Diver–Part 1 “True to the attrition rate, and to the best of my memory, I was one of only two to graduate in my class. You’d think I’d remember! I have a good reason why it’s as clear as mud. After I passed Phase 1, there weren’t a sufficient number of soldiers to start Phase 2 in Florida. The dive instructors gave me two options. I could spend my days raking leaves, mowing lawns, and cleaning the barracks, or I could go through Phase 1 again with the next class.”
John Geffert: Becoming An Army Diver–Part 1 “True to the attrition rate, and to the best of my memory, I was one of only two to graduate in my class. You’d think I’d remember! I have a good reason why it’s as clear as mud. After I passed Phase 1, there weren’t a sufficient number of soldiers to start Phase 2 in Florida. The dive instructors gave me two options. I could spend my days raking leaves, mowing lawns, and cleaning the barracks, or I could go through Phase 1 again with the next class.”
Mike Molitoris: A Tale Of Two Charts ” It’s definitely interesting to see how quick peoples’ sentiment changed over the past couple of months, but I think in the next 6-8 weeks that view will become a little clearer.”
All About Your Benjamins: I Need Your Help Bringing Financial Advice To CNBC
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