Week In Review Articles
Saying “no” to something really interesting even when it’s the right decision is REALLY hard.
I hate FOMO.
— KVP (@KyleVanPelt) September 9, 2020
Morgan Housel: Book: The Psychology of Money “This book is 19 chapters. None are long, because I don’t want to waste your time. I just want to explain the 19 most important quirks about how people think about money, often through the lens of topics that have nothing to do with money, but everything to do with how people behave.” Go Buy It 😀
Howard Lindzon: Mental Health–Give Yourself A Break I”t should be no surprise that the mental health part of the crisis is real and accelerating. Toss in the dissonance in our society. Some tech companies stock prices are at record highs, while established businesses are in a complete retreat or freefall. Many small businesses are on the verge of extinction – ponder all the local retail businesses and restaurants in your city.”
The Reformed Broker: An Endless Responsibility “Today the market will go up (down) and your brain’s chemistry will lead you to believe that this is meaningful, and that it’s likely to go higher (lower). You have to knock that shit off. It’s your responsibility. It’s an endless responsibility.”
A Wealth Of Common Sense: The Work From Home Backlash Is Upon Us “But there are sure to be many large corporations with the attitude of If you’re making this much money, you better be in the office. People on the high end of the income scale may have the ability to work from home now but I wouldn’t bet on all of them keeping that perk going forward. There will still be plenty of old school firms with the midset of Netflix and JP Morgan on this.”
Lazetta Rainey-Braxton: 6 Ways To Recognize And Share White Privilege In Wealth Management “In asking my question about reincarnation as a professional of a different hue, my goal is for you to recognize how race unjustly defines the characteristics and ability of a professional. Many of the exact same methods also apply to sharing your privilege with Latinos, Asian Americans, Native Americans and other minorities.” Justin here, this conversation needs to continue, even if you are not a financial advisor, and one of the ways I can help keep the progression moving forward is to keep sharing and the conversation alive.
The Humble Dollar (Anika Hedstrom): Effort Counts Twice “Individually, we can grow and expand our interests, develop consistent habits of challenging ourselves beyond our existing skills, and connect our work to a purpose greater than ourselves. But like Rose, we can also use our parents—or coaches, mentors and friends—to help us develop our own personal grit.”
Ashby Daniels: Politics Don’t Matter…To Your Portfolio “Yet, just about every person that has enough political involvement to cast a ballot thinks it does. But it just doesn’t – at least not in the long run – as there is very little data that supports any link between politics and investing.”
The Irrelevant Investor: Most Stocks Suck “The six most expensive words in the investor’s dictionary are “I’ll get out when I’m even.” Eliminating that line of thinking will make your investment journey a lot more profitable and a lot less frustrating.”
Corey Hoffstein: Liquidity Cascades–The Coordinated Risk Of Uncoordinated Market Participants Justin here, this is a deep-dive, but very interesting and worth reading if you’re interested in the investment component of your planning. You’ll have to give your email address to gain access, but Corey is a stand-up guy, so don’t expect to be spammed.
Thomas Kopelman: Compound Interest: A Millennials Best Friend “The moral of the story is that as a millennial, time is on your side. If you choose to listen to Einstein and harvest the power of compound interest, you will more than likely find yourself in a strong financial situation down the road. Just remember, time in the market is way more important than timing the market.”
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.