Scott Adams, the creator of Dilbert has this to say about making forecasts: “There are many methods for predicting the future. For example, you can read horoscopes, tea leaves, tarot cards, or crystal balls. Collectively, these methods are known as ‘nutty methods.’ Or you can put well-researched [...]
Another truism of financial planning
At least once a day, I find myself saying, “Another truism of financial planning is...” To be honest, I don’t know if they meet the strict definition of truisms, but below are the twelve concepts I’ve found most helpful in navigating the world of personal finance. There are always two answers [...]
Groupthink
The economist John Maynard Keynes once made the observation that, “it is better for reputation to fail conventionally than to succeed unconventionally.” This is probably true in many realms. It’s certainly true in the investment world. As the last twelve months have demonstrated, extreme and [...]
Single Stories
In 2009 author Chimamanda Adichie coined the term “single story.” A native of Nigeria, Adichie first came to the U.S. to attend college. Almost immediately, she was struck by the one-dimensional lens through which many saw her. It started with her roommate. Knowing that Adichie had just arrived [...]
What was missing from Finance 101
When I think back to Finance 101, what I recall, more than anything, is formulas—a whole lot of formulas. First came the calculation for present value, then formulas for valuing bonds, stocks, options, futures, forwards and all sorts of other financial instruments. This was interesting. But with [...]
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