Monday, November 30, 2015
Every person reading this today has access to more wealth than the last King of France did. An astounding array of choices, a bounty of available connections and emotions.
Don't let someone else scam you into being unhappy.
-Seth Godin, as excerpted from here
.............................of investing can be found here.
Like the original, there are eight saying "thou shall not" and only two saying "thou shall." From the cheap seats, it strikes me the two most important investing commandments are:
1. Just do it; and,
2. Start doing it as early as possible.
"The problem isn’t that life is unfair – it’s your broken idea of fairness." Oliver Emberton challenges us to re-think our notions of "fairness" and to align ourselves with how the world really works. Full post is here. Fun drawings here:
He concludes: "Most of us get so hung up on how we think the world should work that we can’t see how it does. But facing that reality might just be the key to unlocking your understanding of the world, and with it, all of your potential."
If you are one of those folks who seek to understand why things are the way things are, and if you do not study up on "demographics," your understanding will likely be incomplete. One version of the tale may be found here. Enjoy.
The Who...............................................Please, Please, Please
Please, Please, Please was written (in part) by James Brown and released in 1956. Surely you want to watch a 1964 video of one of the all-time great performers in the history of performing sing his own song.
“Respect is sweeter when you earn it; you loose respect when you demand respect.”
“I’ve demanded of myself to be more demanding of others.”
A handy list of demands from our college campuses may be found here.
"Some people regard private enterprise as a predatory tiger to be shot. Others look on it as a cow they can milk. Not enough people see it as a healthy horse, pulling a sturdy wagon."
-attributed to Winston Churchill
Sunday, November 29, 2015
I’ve found that making fewer decisions is one of the most important things you can do as an investor because the brain can get tired and overworked just like any other muscle in the body. Decision fatigue is a huge cause of unnecessary risk and avoidable mistakes in the market.
-Ben Carlson, as excerpted from here
14. You will never time for anything. If you want time you must make it.
32. One meets his destiny often in the road he takes to avoid it.
52. Don’t worry about what other people think; they don’t do it very often.
76. When people are free to do as they please, they usually imitate each other.
Saturday, November 28, 2015
.................................................horse shoes and hand grenades. Or, why we spend $100 at the carnival to win a $10 stuffed animal:
"We want and place value on something when we almost have it and lose it. Charlie Munger says, 'One reason why horse races, bingo and these things have always been so popular is because of all the near misses.' Frequent near nisses are like small reinforcements and make us want to try again and again.
-Peter Bevelin, Seeking Wisdom: From Darwin To Munger
"Perhaps the most valuable result of all education is the ability to make yourself do the thing you have to do when it ought to be done whether you like it or not. It is the first lesson that ought to be learned and however early a person's training begins, it is probably the last lesson a person learns thoroughly."
-Thomas Henry Huxley
"The masses have never thirsted after truth. They turn aside from evidence that is not to their taste, preferring to deify error, if error seduce them. Whoever can supply them with illusions is easily their manster; whoever attempts to destroy their illusions is always their victim."
-Gustave Le Bon
"There is nothing wrong with changing a plan when the situation has changed."
-Lucius Annaeus Seneca
"A man should never be ashamed to own that he has been in the wrong, which is but saying, in other words, that he is wiser today than he was yesterday."
"When somebody persuades me that I am wrong, I change my mind. What do you do?"
-John Maynard Keynes
Friday, November 27, 2015
................the winner's curse, and other stuff you should think about.
"The diversifier’s fallacy is a generalisation of the Peter Principle: individuals rise within an organisation until they are given a job they are not competent to do. Companies diversify until they are engaged in businesses in which they have a competitive disadvantage relative to incumbents. This seems particularly common among financial companies."
-John Kay, as culled from here
........................a La Niña lurks and it won't be pretty. The fun thing about making weather predictions about next summer, instead of climate predictions about ten years from now, is that they are easier to remember. Full story, with some advice mixed in, here.
If you doubt that, check out friend Bilbo's list of irrational fears by zodiac sign.
Aquarius (January 20 - February 18): Arachibutyrophobia, the fear of peanut butter sticking to the roof of the mouth.
Thursday, November 26, 2015
I hope that as a society we are better than that narrow, stunted celebration of what really could be a beautiful day. A day without stress. A day without tension. A day to celebrate with your whole heart those things for which you are TRULY thankful with the people who TRULY make you grateful to be in their lives. Eating the food for which you’re TRULY appreciative, wherever and however you want. In other words, keep the tradition of thankfulness – just lose the empty pretense. Free yourselves from the chains of obligation and tradition and, in my humble opinion, you’ll finally learn what it feels like to celebrate a day of .
-Gina, as excerpted from here