Took the afternoon off to do kid wrangling because the school is closed from the heat (trading with other families who take over kid wrangling other days this week) and I think that is my first “climate day” as a reason for not working?
Ritholtz does exactly that, running through such surefire ways to wreck your wealth as ignoring taxes, paying excessive fees, misinterpreting data, overreacting to short-term trends, and trading too much.
It was a miracle of your lifetimes. It lifted hundreds of millions of people out of poverty. The problem for the likes of Putin is that this wealth producing trade was not happening at his house, but the houses of those vested in the trading order, not in extortion.
and part of it is just power, I think. Like, once there's a sufficiently large power imbalance, um, very often, not always, but very often groups of people seem to to sort of shift into this other mode where they just seek to dominate.
Tariffs, and especially the erratic implementation of them, are teaching our allies and enemies alike that the US is no longer a reliable trading partner.
the average athlete who's taking a few million dollars more to move his wife and kids from one family, one city that they loves him and that he loves to some strange place where everybody's going to be unhappy.
So think about this. If your brain is this most valuable tool you have in your journey to success and happiness, why would you destroy this tool for short-term pleasure? This sounds ridiculous.
If you buy a handful of index funds, sit on them for decades and never do another thing, you're likely to outperform nearly everyone who tries to beat the market by trading-including most professionals.
Movements are coalitions. Sometimes this means different people with different priorities choose to work together. But other times it means the same people tend to share both priorities.
A fine intro to investing if you think you can reliably beat the market or that active trading is a good use of energy. If you're already bought in on index funds though, you won't find much here.
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