I just finished "The Affluent Investor" by Phil DeMuth. Phil defines "affluent" as having between $100,000 and $10,000,000 in assets. (Very high net-worth individuals have a different set of challenges that are not covered in this book.) I'm not yet affluent by this definition, but still found …
- Tagged as: Financial Competence Step 6
In my piece on the Four Percent Rule, I talked about Jeremy Grantham's November 2012 essay, "On the Road to Zero Growth[1. Available from the "Jeremy Grantham's Letters and Articles" section of the GMO website, but only after you register. Registration is free.]. In that piece I listed some …
I recently finished "Think, Act, and Invest Like Warren Buffett: The Winning Strategy to Help You Achieve Your Financial and Life Goals," by Larry Swedroe. The Warren Buffett stuff is just a facade -- a shtick to get investors who are frightened by scholarly works to read the book. Nevertheless, the …
Continuing our detailed review of "The Investor's Manifesto" by William J. Bernstein, we're going to look at Chapter 6, "Building Your Portfolio."
This chapter boils down to one sentence of advice from Mr. Bernstein: "Save as much as you can, start as early as you can, and do not ever …
Continuing my chapter-by-chapter notes on William Bernstein's "Investor's Manifesto," here we take up Chapter 5.
I'll open with a quote from Bernstein that nicely summarizes the chapter:
The prudent investor treats almost the entirety of the financial industrial landscape as an urban combat zone. This means any stock broker …
If you're an investor counting on the 4% Safe Withdrawal Rate for your retirement planning, your pucker factor should be going up to about an eight right now.
I first heard of the "Four Percent Safe Withdrawal Rate" via Mr. Money Mustache. It states that if you draw down …
Continuing our chapter-by-chapter review of "The Investor's Manifesto," by William J. Bernstein, we're going to look at Chapter 4, which focuses on investor behavior. In the last chapter we made a plan for how to handle our portfolio. In this chapter, we learn why many investors don't stick to their …
We continue our chapter-by-chapter notes on the "Investor's Manifesto" by Bernstein with Chapter 3, about the different assets you'll keep in your portfolio, and how you'll balance them.
And here, it's appropriate to review our goals in investing. We are not striving to rich quickly. If that's your goal …
Here I continue my review of "The Investor's Manifesto" by Bernstein with my notes from Chapter 2. In Part 3 of my notes, we cover estimating returns on stocks, and a good deal more about choosing stocks and other investments. There's some math here, but also a good deal of …
You are the Sucker
“Listen, here’s the thing. If you can’t spot the sucker in your first half hour at the table, then you are the sucker.” - Rounders, 1998.
When you buy index funds, you are betting that over time, the stock market overall will rise. (A rising …
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