What I have been reading - 6th May 2019
Here are links to some of the things that I have enjoyed reading in the last week:
The Diderot Effect: Why we want things we don't need - and what to do about it: I am really enjoying James Clear's articles - he tells a story and then gives real, tangible advice. This particular article is about a problem we all have. "There will never be a level where you will be done wanting things. There is always something to upgrade to."
The Parallels between Investing and Gardening: Warren Buffett famously said, 'someone is sitting in the shade today because someone planted a tree a long time ago.' It's one of my favourite quotes because growing wealth is so beautifully likened to growing a tree. It's a natural, organic process that shouldn't be rushed. We are not in the business of 'getting rich quick'.
The Errors That I Don't See: We are all human and we all make mistakes. This is a great story that highlights the importance of checking your work and building a reputation on getting things right.
Why volatility shouldn't scare you - even close to retirement: This article embodies my entire investing philosophy. Volatility is not risk. It's only risk if you react to it. Volatility is the price we pay for our long-term returns. As Morgan Housel wisely said, "Volatility is the price of admission."
People forget that people forget: This is a good article and a good life lesson. If you are battling with something today that seems really important, remember, people forget.
What's missing from this ad?: I really admire Sallie Krawcheck - she took on the big boys on Wall Street, and is still standing to tell the tale. Here she pulls apart an ad and shows just how far we have to go.