"[A]s I’ve grown up and have more funds at my disposal, a funny thing has happened. I’m much less inclined to want or need to show what I have than was the case when I had much less."
This one was from the heart.
The 10 Most Important Things I Tell ClientsOver the past couple of decades, I’ve told clients many very important things. Most of them are timeless, which is why I find myself saying the same things repeatedly. Here are the top 10, and I’ve saved my most important for last.
Rick Ferri wrote: ↑Sun Aug 21, 2022 8:25 pm
Philosophy is universal
Strategy is personal.
Discipline in mandatory.
If you want to know what I mean by this, watch this video:https://youtu.be/wyxIb9BI7_o
Security Hardware for Vanguard, Fidelity, and Schwab AccountsStop using your phone for login authentication. Give yourself the gift of security and buy separate security hardware for your investment accounts.
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35 Signs That You Are a Bad InvestorIt's a funny quirk of human nature that we learn more from bad experiences and examples than we do from good ones. Today, let's talk about 35 signs that you are not a very good investor.
This is bad advice to say the least.Elle_N wrote: ↑Fri Nov 25, 2022 4:43 pm masonstone, if this is for real, then it seems to me that you should be seeking out an investment advising firm that connects high income and high net worth individuals to extraordinary investment opportunities (or at least opportunities that are out of reach to us plebes). See if anything the firm suggests has appeal.
Annie Duke calls this “resulting” in her book “Thinking in bets : making smarter decisions when you don’t have all the facts”.hammond wrote: ↑Sat Nov 12, 2022 11:16 am I am a boglehead for the most part. I was recently talking to a friend about their investments. He was mentioning that in 2020, he bought some SPY calls and was able to turn 75k into 1.8m.
Soon they upgraded their lifestyle and now have like a 4m house.
Anyways, I am having huge FOMO because of this. To me the boglehead way seems like the slow and steady way. How do folks avoid fomo?
Drawing an overly tight relationship between results and decision quality affects our decisions every day, potentially with far-reaching, catastrophic consequences.
https://www.barrons.com/advisor/article ... 1667243626because the cause of the 2022 bond crash was rising rates rather than defaults, we know these bonds will recover at some point. That’s because the yields on these bond indexes have surged. The current 30-day SEC yield on BND as of Oct. 26 was 4.44%. If rates stabilize, I estimate that in five years, the average annualized five-year return of BND will be just over the 1.60% yield going into this year. There was no assurance that stocks would ever recover after the Great Depression.
The reason that ‘guru’ is such a popular word is because ‘charlatan’ is so hard to spell.
– William Bernstein
Swedroe: Measuring Value In ForecastsThe bottom line is that the research shows that when it comes to predicting economic growth, interest rates, currencies or the stock market, the only value of investment gurus is to make weather forecasters look good. Keep this in mind the next time you find yourself paying attention to the latest guru’s forecast. You’re best served by ignoring it.
Trust me, the 60/40 portfolio is not dead because it had one bad year. That’s not how this works.
This same line of thinking has been applied to the 4% rule for portfolio withdrawals in recent years because bond yields were so low.
Guess what?
Bond yields are now somewhere in the 4-6% range. The 4% rule has come back from the dead.
Or maybe it was never dead to begin with and this stuff is all just cyclical.
News You Can’t UseAmid the financial markets’ daily turmoil, investors often lose sight of fundamental truths and make foolish changes to their portfolio. To stay the course, many folks need to be regularly reminded of what sensible investing looks like.
Earlier this month, I joined more than 350 other folks at the Bogleheads conference.
The Bogleheads are individual investors who offer each other, and the rest of the world, free investing advice on their online forum and Wiki pages.
Although Jack Bogle, founder of the Vanguard Group, died in 2019, the Bogleheads still follow his simple principles of low-cost, no-frills investing.
You want to keep your browser up to date, because most updates are for fixing security vulnerabilities. Most browsers will at least notify you when an update is available. I recommend updating as soon as possible or better yet allow automatic updates.water2357 wrote: ↑Wed Oct 05, 2022 11:06 pm How often do you update your browser on your PC?
Do you set it on automatic updates? And if so, have you ever been faced with any problems due to an automatic update?
Have you ever had any security issues with a financial institution due to an out dated browser?
Back to FundamentalsEvery bear market is not only different from earlier declines, but also each one feels different—with unique issues that trick us into thinking the problems will snowball and the financial damage will be permanent. Such feelings aren’t surprising: If every bear market seemed similar, we’d all be emotionally prepared and there would be little or no panic.
It was me. Sorry about that. Got buys set on automatic and was unaware of the daily happenings.
A Giant Distraction to the Business of InvestingI am reminded of the wonderful quote from the late-John Bogle when he said, “The stock market is a giant distraction to the business of investing.”
Headlines are also a giant distraction to the business of investing.
If you could avoid paying attention to your own long-term investments that’s probably a win for most investors.
Well said.nisiprius wrote: ↑Tue Jun 14, 2022 12:21 pm It means nothing. It's just stuff people say. It's a way of fitting a satisfying story to events that nobody understands.
It's circular. "Why hasn't it stopped plunging?" "Because there has not yet been capitulation." "How can you tell if capitulation has occurred?" "You can tell it has occurred when the stock market stops plunging." It's phlogiston. It's ectoplasm. It's the Vital Principle. You can't measure it. It's a name given to mysterious stuff that explains market movements. Some market timers who are in tune with market psychology can sense it. There's no "capitulation theory" to test.
If the year were to end today, 2022 would rank as the 7th worst calendar year return for the U.S. stock market since just before the Great Depression.
+1Rick Ferri wrote: ↑Thu Apr 14, 2022 8:13 am Nothing has really changed.
It's the same 9 principles presented in a logical order. We added a 10th during this discussion (Live below your means), then an 11th, one of Jack's favorite lines (Stay the Course!).
All of these were inspired by Jack Bogle. I vote to go with it.
Rick Ferri
Your current signature says it all:tvubpwcisla wrote: ↑Wed Dec 15, 2021 8:04 pm I am curious what adjustments you may be making to your portfolio heading into 2022?
I've read Mr. Money Mustache for years, but missed this one. Thanks for the link.HenryG wrote: ↑Sat Sep 04, 2021 6:43 am Yes, I've had similar feelings. I bookmarked and occasionally re-read Mr. Money Mustache's post "What it Feels Like to Become Rich":
https://www.mrmoneymustache.com/2012/08 ... come-rich/
"...your financial boredom will probably continue. Keep up the good work..."
This is the key.Triple digit golfer wrote: ↑Wed Sep 15, 2021 2:37 pm You guys are always looking for reasons to explain why the market does what it does. Accept that you have no idea.
