Week In Review Articles:
The WSJ: Officials View Trade Uncertainty as Biggest Global Economic Risk
The WSJ: U.S. Retail Sales Fell in September
The WSJ: Fed Eyes Another Rate Cut, Weighs When to Stop
The WSJ: British Government Asks for EU Delay Amid Johnson Resistance
The WSJ: Interest Rates Are Falling—but Your Credit-Card Rate Could Be Going Up
Logic doesn’t run the show.
Emotions do.
Repeat a narrative enough and people will eventually accept it.
— ᴅᴀᴠɪᴅ ᴘᴇʀᴇʟʟ ✌ (@david_perell) October 17, 2019
Weekly Mixtape
Calibrating Capital: 3 Words We Should Say More Often “We need to be okay with not knowing all things.”
Retirement Field Guide: At What Cost? “When we think about our lives outside of our own desires and consider what others might pay as a result of our decisions, I think it allows us to see our decisions more in line with what our actual values are.”
Morgan Housel: Why New Technology Is A Hard Sell “It’s easy to overlook how rare that is, and how long it takes for people to welcome into their own lives what seems so obvious to you. Creativity, engineering ability, and leadership are all great traits of entrepreneurs. But none matter without the endurance and patience necessary to see it through.”
Jason Zweig: TIme For Advisers To Speak To Us In Plain English “But, as my dad used to say, nothing is harder than making something look easy.”
The Simple Dollar: Do What Makes Your Happe? Or Do What Makes You Better? “My belief is that happiness is not a constant state. Rather, it’s always going to be something fleeting, something counterbalanced by ordinary life and by moments of sadness as well. If you attempt to stuff your life with things that make you happy, all that will happen is that many of the things that used to make you happy become ordinary and dull, and can even sometimes result in unhappiness (like buying books over and over until you have so many that they’re unmanageable and you have a big pile of credit card debt).”
Irrelevant Investor: Netflix Versus Blockbuster “The winners always appear pre-destined in hindsight, but a lot of things had to go right for Netflix to end up with 150 million subscribers”
A Wealth Of Common Sense: A Eulogy For The 60/40 Portfolio “The 60/40 portfolio passed away on October 16, 2019, from complications of low interest rates and a bad case of Fed manipulation. This is the 27th time 60/40 has died in the past decade but enemies market timing, day traders, and alternative investments are hopeful it will stick this time around.”
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