What I have been reading - 19th August 2019
Here are a few of the things that caught my attention last week.
The seduction of above-average: People still convince themselves that they can beat the market despite all the evidence to the contrary.
"Make it stop": A reminder that if you are a young investor you should welcome lower prices with open arms.
The danger of comparing yourself to others: I love this article from Farnam Street Blog. I am often asked by people "how do I compare to others financially?" This is a good reminder that it doesn't matter. "Are you better than you were when you woke up? If not, you've wasted a day. It's less about others and more about how you improve relative to who you were."
ETF Fear Mongering: There is a lot out there on the dangers of ETFs and almost all of it comes from active managers who are under pressure due to poor performance.
We've reached peak wellness. Most of it is nonsense: Wellness is an important concept today but as this author says "we'd be much better off if we stopped obsessing over hacks and instead focused on evidence-based stuff that works." He compartmentalizes physical, emotional, social, cognitive, spiritual and environmental wellness and explains what actually works. I would add financial to the list!