Stoicism – “Imagine smiling after a slap in the face. Then think of doing it twenty-four hours a day.” – Markus Zusak, The Book Thief
We love to read and share – here’s some notable things from the last week covering investing, financial planning and happiness.
Investing
10 Things I Believe About Investing – “4. I believe self control can make you far more money than just about any other trait as an investor.”
Explaining Investing In Ways That Make Sense – “Asset management is like politics. Just as much, if not more, effort is spent fundraising than for actually working for clients/constituents.”
Buffett’s Advice Widely Respected, Seldom Followed – “knowledge is the armor that can protect you from making bad decisions”
Polling financial literacy: results both encouraging and worrisome – “investors still need to take responsibility to increase their own awareness and to educate themselves”
Who wouldn’t like to see Ricky Gervais starring in “The Investment Advisor”? – “a satirical poke at the investment industry which is pretty spot on target”
Historical Returns Versus Investor Returns – “returns are always easier looking in the rear-view mirror than they were at the time”
Investors have a powerful friend but study shows they also have 2 fairly formidable enemies – “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” – Einstein
How to win at investing — Video 1/10 – “By refusing to speculate, by investing instead in a broadly diversified portfolio of low-cost index funds, and simply staying the course, a typical investor can ensure that he or she will end up, after costs, as one of the winners.”
How to win at investing — Video 2/10 – “the crucial importance of fees and charges”
How to win at investing — Video 3/10 – “Last time we looked at the damaging effect of compounded fees and charges on investment returns. Part 3 examines the performance that actively managed mutual funds typically deliver.”
Financial Planning
What our fathers taught us about money – “Here are the best bits of advice MoneySense staffers’ dads have shared with them.”
How to Create a Savings Habit for Your Kids – “Many of the traits that make us successful as adults were learned as children”
How the wealthiest got rich may surprise you – “disciplined planning, regular rebalancing, making sure the portfolio is age-appropriate”
How Money Destroys Relationships – “people who see money as it is—a lifeless but effective tool—typically end up managing it better”
Happiness
Happiness is the only logical pursuit – “by simply pausing before each major life decision and comparing it to our real goal of a happy, satisfying life, we can keep the ship moving in a better direction and thus get more from life”