Journal to portfolio afterlife

[black-opal]

Only enjoying things that cost money is a dark, perpetual abyss. And it's most vicious quality is that it doesn't announce itself: you have to have the humility and wherewithal to discover and acknowledge that you're in it.

You don't need to be an expert, but you should know what drives your outcomes because investment results are noisy. You want to know a realistic range of outcomes that are likely in the future, eventually assess whether results were realized within that range, and then understand why or why not.

Questo mi viene in mente quando devo imbiancare qualche stanza ...

What do you hate doing that you can pay someone else to do? Time is an ethereal concept, and so thinking this way can feel unnatural. But most of the physical crap we buy doesn't make us happier anyway.

7 Beliefs About Money

My friend Sean O'Neill is a fantastically talented, New Yorker-published cartoonist. I've generously offered him dozens of my ideas over the years, and probably should have taken the hint when he's never been interested in any of them.But finally, a few weeks ago, I reached out again — and...

www.fortunesandfrictions.com

 

[black-opal]

Although we may not like to admit it, the past performance of an asset class or fund is likely to have an overwhelming influence on our decision making.

Periods of abnormally strong performance mean that an investment has become more expensive and that it has earned higher returns than it is reasonable to expect on average. Both factors acting as a gravitational pull towards future disappointment.

The popularity of star fund managers is (at least in part) forged on the notion that exceptional returns in the past are a prelude to exceptional returns in the future. We ignore the realities of valuations, the spectre of mean reversion, and fickle hand of fortune, and instead assume that some form of idiosyncratic skill will overcome all of these factors. This is an assumption with terrible odds of success.

One clear signal of the dangers innate in performance chasing is that there is no behavioural cost. It is easy to do and feels good when we do it. Almost all positive investment approaches come with behavioural pain – something has to hurt.

There is one important exception about the perils of making decisions based on past performance. The success of trend-following strategies, which are explicitly past performance focused. If there is evidence of this working, why is performance chasing such a problem? There is a critical distinction. The success of systematic trend-following strategies is about the consistent application of discipline and rules.

The Paradox of Past Performance

Although we may not like to admit it, the past performance of an asset class or fund is likely to have an overwhelming influence on our decision making. We may try and mask the hold it has on us, …

behaviouralinvestment.com

 

[black-opal]

Everyone who has ever invested money knows that financial markets can induce stress. Nobody likes to see their investments make losses but when they do, the pressure builds to recover these losses.

If you want to become a better investor, make sure you are not stressed when you make investment decisions. And that means turning off financial TV like Bloomberg or CNBC which are designed to stress you with a constant barrage of ‘alerts’.

How to become a better investor: Avoid stress

Everyone who has ever invested money knows that financial markets can induce stress. Nobody likes to see their investments make losses but when they do, the pressure builds to recover these losses. But does this stress change investment behaviour? I don’t think that any reader will be surprised...

klementoninvesting.substack.com

 

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FOBO or Fear of Better Options is a psychological phenomenon where someone avoids making a decision out of fear that there may be a better option.

Understanding and Overcoming FOBO (Fear of Better Options) - Darius Foroux

FOBO or Fear of Better Options is a psychological phenomenon where someone avoids deciding out of fear that there may be a better option.

dariusforoux.com

 

[black-opal]

Quante persone fanno una vita che non è veramente propria?

In the book Quitting: A Life Strategy, author Julia Keller traces the origins of the negative view of quitting to the Industrial Revolution in the 19th century. Success was equated with hard work and perseverance through adversity. “If you weren’t successful, it just meant you didn’t work hard enough,” Keller says. “That very much served the interests of the people in power, because if you want to say to people, ‘Well, the reason you’re still poor and downtrodden is because you didn’t work hard.’”
Success is hardly won on grit alone. Rather, Keller argues, quitting can help you achieve your goals just as effectively as perseverance. “You abandon old ways and embrace new ways,” she says, “you abandon old things and do new.”

A less obvious barrier to quitting is the common tendency to persevere over giving up, says Annie Duke, author of Quit: The Power of Knowing When to Walk Away. When faced with the option to quit or stick it out, Duke says, people are almost always inclined to persist, because we want to know how a scenario resolves. We want to say we exhausted every option and therefore giving up was out of our control.

The thought of quitting may bring up feelings of guilt or shame. You may be embarrassed by what others will think of you if you walk away from a project.

Every goal or achievement comes at a cost — what you’ve sacrificed or overcome for success. However, if hitting milestones is proving detrimental to your health, emotions, and relationships, and is contrary to your values, it may be time to take your foot off the gas.

The erosion of your health or relationships is slow and doesn’t present itself all at once. Over time, lost hours of sleep while pulling all-nighters working on your side hustle or little fights with your partner will add up, Raghunathan says. This slow-burn effect is because people are fairly short-sighted when it comes to goal achievement, he explains: If we meet this one milestone, then we can tend to the people we’ve been forgoing in the meantime.

The art of quitting

Walking away is hard, but it can be empowering.

www.vox.com

 

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https://twitter.com/x/status/1713213994272436516

 

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https://twitter.com/x/status/1712916124512248276

 

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Mi chiedo come faccio a vivere io che non ne uso nemmeno uno di questi ...

https://twitter.com/x/status/1713214731870228621

 

[black-opal]

Mi astengo dal commentare ... di nuovo, riflettete ...

La Commissione Ue "triplicherà immediatamente gli aiuti umanitari a Gaza" portandoli a "oltre 75 milioni di euro".

L'Ue annuncia 50 milioni per gli aiuti umanitari a Gaza - Ultima ora - Ansa.it

La Commissione Ue "triplicherà immediatamente gli aiuti umanitari a Gaza" portandoli a "oltre 75 milioni di euro". Lo annuncia in una nota la presidente Ursula von der Leyen, dopo un colloquio con il segretario generale delle Nazioni Unite, Antonio Guterres. (ANSA)

www.ansa.it

Dall'inizio della guerra di aggressione della Russia, l'UE e i suoi Stati membri hanno messo a disposizione circa 77 miliardi di EUR a sostegno dell'Ucraina e della sua popolazione:

• 38,3 miliardi di EUR in assistenza economica
• 17 miliardi di EUR in sostegno ai rifugiati all'interno dell'UE
• 21,16 miliardi di EUR in sostegno militare
• 670 milioni di EUR nel meccanismo di protezione civile dell'UE

https://www.consilium.europa.eu/it/policies/eu-response-ukraine-invasion/eu-solidarity-ukraine/

 

[black-opal]

Una strana coincidenza ...

Incidente Mestre, autobus elettrico contro pilastro palazzo: 15 feriti

Il bus è dell'azienda a cui apparteneva quello precipitato dal viadotto il 3 ottobre: scatta lo stop

www.adnkronos.com