Journal to portfolio afterlife

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Long-term studies by the psychologist Richard Wiseman have had some wild and amusing results. One of his experiments involved people who defined themselves as lucky and unlucky walking down a street with a $20 bill lying on the pavement. The lucky people noticed it and unlucky people didn’t. Self-defined lucky people weren’t any better at winning random games of chance like the lottery, but they had material advantages when it came to noticing positive opportunities presented by their environment.

How To Be Lucky – Sapient Capital

What we get wrong about getting what we want

sapientcapital.com

Lucky people don’t magically attract new opportunities and good fortune. They stroll along with their eyes wide open, fully present in the moment (a problem for people glued to phone screens). This also means that anything that affects our physical or emotional ability to take in our environment also affects our so-called “luckiness”—anxiety, for one. Anxiety physically and emotionally closes us off to chance opportunities.

The Key to Good Luck Is an Open Mind

Really lucky people may have a specific set of skills that bring chance opportunities their way.

nautil.us

 

[black-opal]

Questo è il motivo per cui ho preferito fare il lavoratore dipendente, mi sono accontentato e sono rimasto sul sicuro. E poi fare business in Italia ti espone a molti rischi e pochi guadagni (a meno di non fare molta evasione) o a meno di non essere ammanicato. Sarò cinico ma questa mi sembra la cruda realtà.

Is being a business owner better than being an employee

Visit the post for more.

thewokesalaryman.com

 

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Avere ansia rispetto alla sostenibilità del proprio piano di ritiro anticipato dal mondo del lavoro è naturale, ma, nel mio caso, è stato più difficile il salto mentale dal risparmiare regolarmente all' erodere sistematicamente il patrimonio faticosamente accumulato.
L'ansia iniziale è tanto più alta tanto minore è il margine di sicurezza iniziale ed è inversamente proporzionale alla flessibilità del proprio piano con percorsi alternativi.
La revisione delle proprie spese è una forma di controllo che può dare sicurezza, così come investire saggiamente i propri risparmi.

Questa parte sembra scritta per me.

“Given the research that we see on happiness and anxiety, people who are underspending in retirement are pretty happy,” she said. “There is a peace of mind and happiness even if they’re not spending as much as they could. Who are we to say they should spend more?”

https://www.washingtonpost.com/business/2023/08/25/fear-running-out-of-money-retirement/?pwapi_token=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJyZWFzb24iOiJnaWZ0IiwibmJmIjoxNjkzMzY4MDAwLCJpc3MiOiJzdWJzY3JpcHRpb25zIiwiZXhwIjoxNjk0NzUwMzk5LCJpYXQiOjE2OTMzNjgwMDAsImp0aSI6IjRmMjVjNjlmLTFlOGMtNDQxYS05NDhhLWM3Yjg1MGNmODM0MiIsInVybCI6Imh0dHBzOi8vd3d3Lndhc2hpbmd0b25wb3N0LmNvbS9idXNpbmVzcy8yMDIzLzA4LzI1L2ZlYXItcnVubmluZy1vdXQtb2YtbW9uZXktcmV0aXJlbWVudC8ifQ.z7wBFI0JGEEX3xe-cGHQS5VJE0MaxkJAdYiLv7BFoXg&itid=gfta

 

[black-opal]

Essere frugali è una virtù ma essere avari è un vizio capitale. Però è difficile giudicare il comportamento degli altri nel momento in cui tra consumismo/edonismo e il minimalismo ci sono numerosi passaggi intermedi, inoltre si può essere frugali su certi acquisti e spendaccioni per altre cose.

Questo è un ottimo consiglio per chi è frugale, ed ha moglie e figli.

You need to have the emotional intelligence to at least consider how others feel about your spending choices that affect them too

Su questo aspetto cito spesso un esempio. Dalle mie parti molti vanno a fare legna nel proprio bosco e sono convinti di risparmiare. A parte il fatto che così inquinano l'ambiente molto di più che con altre forme di riscaldamento (... ma lasciamo perdere ... ) mi chiedo sempre come quantificano il valore del proprio tempo, così come mi chiedo se nel calcolo economico considerano tutte le varie voci di spesa ed ammortamento delle attrezzature.

Spend the money to save the time and aggravation.

Di nuovo un ottimo consiglio quando si fanno esperienze di gruppo con parenti e c'è chi ha meno possibilità economica.

When doing fun things with less well-to-do friends or family, you need to have the most emotional intelligence. Nobody wants a handout, but they can't afford to do what you want to do in the style in which you want to do it with them. You can afford to cover their share, but you need it not to look like a handout.

Ricordiamoci che i figli vedono gli esempi di come ci comportiamo nella vita quotidiana.

Money behavior is both modeled and taught explicitly to your children. Keep in mind what you are trying to teach as you go. Teach your kids to turn off lights and not to waste water to save the planet and to learn general frugality, not because it will actually make a difference in your monthly budget. They'll eventually see through that. If people wear a sweatshirt in the house in the winter, that's probably fine. You're just being frugal. If they're wearing coats, you're being cheap.

Frugal vs. Cheap – What's the Difference? | White Coat Investor

There's a difference between being frugal and being cheap. One is virtuous; one isn't. Here's how to separate these concepts in your mind.

www.whitecoatinvestor.com

 

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Ma questa è una notizia o propaganda? Così, per dire.

Zelensky, 'l'Ucraina ce la farà sicuramente' - Ultima ora - Ansa.it

"L'Ucraina ce la farà sicuramente. La vita sta diventando più forte. E verrà il giorno in cui tutta la nostra terra sarà pacifica e sicura. (ANSA)

www.ansa.it

 

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https://twitter.com/x/status/1698295919790432629

 

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Russia has agreed on further curbs to its oil exports with OPEC+ partners and full details of the deal will be announced next week, Deputy Prime Minister Alexender Novak was quoted by Russian media as saying Aug. 31.

Russia to unveil oil export cuts in new OPEC+ deal next week: Novak

Current Russian export cuts expire in September 'Basic parameters' to be publicly announced OPEC delegate unaware of any new agreement Russia has agreed on further curbs to its oil exports with OPEC+

www.spglobal.com

 

[black-opal]

C'è poco da fare, l'investitore individuale in media ha vita molto dura.

The persistent gap between the returns investors actually experience and reported total returns makes cash flow timing one of the most significant factors—along with investment costs and tax efficiency—that can influence an investor's end results.

Overall, the difference between investor returns and reported total returns has remained fairly stable in recent years. As a whole (weighted by asset size), the returns investors experienced lagged reported total returns by 167 basis points per year over the trailing 10-year period, which is roughly in line with the average over the past five rolling 10-year periods.

What can investors do to earn more of their fund investments' total returns? Here are a few lessons to be drawn from our findings:
Hold fewer, more widely diversified funds and automate. Time and again, we have found that investors in allocation funds capture a greater share of the funds' total returns. Why? They are designed to be all-in-one holdings given they span multiple asset classes and rebalance on a regular basis, sparing investors from having to do much maintenance.
Allocation funds also help mitigate the risk of mental-accounting mistakes that investors are prone to, such as buying more of a high-performing stand-alone strategy and selling a lagging one when they ought to do the opposite. Allocation funds combine these separate strategies to form a cohesive whole,
and thus the performance divergences that otherwise might push investors' buttons are largely unseen.
Avoid narrow or highly volatile funds. Another clear finding from the study is that investors have struggled to successfully use narrowly focused or highly volatile funds. These types of funds—whether they were nontraditional equity offerings or those that were among the most volatile in their category group—saw some of the heftiest return gaps that we measured. Most investors would likely be better off keeping it simple in ways that emphasize wide diversification and low costs, which means steering clear of strategies like these.
Keep it simple. The evidence suggests that investors enjoyed greater success when they didn't make the perfect the enemy of the good, instead favoring simpler solutions like allocation funds. Interestingly, we found larger gaps in areas and styles for which there is robust academic support, like tilting to value,
smaller-company stocks, or emerging markets, suggesting that the added volatility these strategies entail cost investors any excess return they might have earned and then some. The same held for more-exotic strategies that on paper might push a portfolio closer to the efficient frontier but in real life confound investors into costly mistakes.
Don't assume that penny-pinching or indexing will necessarily translate to superior dollar-weighted returns. While it's laudable to keep costs to a minimum and invest passively through diversified index funds or ETFs, we didn't find that these practices necessarily prevented wide gaps from forming between these funds' dollar-weighted and total returns. This suggests that timing issues plagued even those who'd emphasized low costs and a passive approach. Some of this owes to circumstance—that is, investors allocating capital to low-cost passive funds in a recurring way as part of a long-term strategy, only to see returns deteriorate. But it's likely that some owes to other preventable factors, such as investors' propensity to chase returns.

https://assets.contentstack.io/v3/assets/blt4eb669caa7dc65b2/blta1eff7ced08aa52d/64ca725cc26b1a31f6c0e1e9/MTG_2023_07.11.2023_corrected.pdf

 

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Un bell'articolo che ci ricorda come dobbiamo sempre mettere in discussione le notizie economiche.

Busting 7 Common Myths

We’ve been hearing many of the same myths over and over, yet we don’t think they are the big worry that the media and many make them out to be. These are

www.carsongroup.com

 

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Se si espongono anche i pesci grossi, potrebbe essere la volta buona. Chi lo sa?

https://twitter.com/x/status/1698344872149655601