Weekend Reading for 4/14/2017
Art of Tracking
Next week I’ll continue my thoughts on confident portfolio allocations. If you missed the first two parts of the discussion, you can read them here:
Quick shout out to Patrick O’Shaughnessy. Pat’s podcast, Invest Like the Best is one of my favorites. It is technically an investing podcast but he occasionally mixes in guests from outside the financial world who have incredibly fascinating stories Take, for example, Boyd Varty.
Boyd is an animal tracker who grew up in South Africa. Before listening to the podcast I knew nothing about animal tracking and the thought of learning about it had never crossed my mind. I was kind of blown away. Varty’s ability to relate the strategies of pursuing animals to how we can all live higher quality lives is amazing. It might sound weird, but give it a listen, I think you’ll enjoy it.
If you don’t have an hour for the podcast, Boyd’s 15-minute TED Talk is great too.
Chart of the Week
“According to the National Retail Federation’s annual survey on Easter spending, Americans are going to splurge a record $18.4 billion this year. That’s a 6 percent increase on 2016’s $17.3 billion. This year’s holiday falls later than last year, a key reason for the uptake in expenditure. Consumers have a whole extra month to purchase chocolate eggs, cards and decorations, as well as warmer weather to look forward to. “
3 Good Reads
Next to Nothing (Jonathan Clements)
“You can build a great portfolio with just three index funds: a U.S. total stock market fund, an international fund that buys both developed and emerging stock markets, and a high-quality U.S. bond fund. Thanks to the ongoing price war among major index-fund providers, all three funds are now on offer at extraordinarily low annual expenses.”
Darwin Was A Slacker And You Should Be Too (Alex Soojung-Kim Pang)
“Everybody focuses on the most obvious, measurable forms of work and tries to make those more effective and more productive. They don’t ask whether there are other ways to improve performance, and improve your life. This is how we’ve come to believe that world-class performance comes after 10,000 hours of practice. But that’s wrong. It comes after 10,000 hours of deliberate practice, 12,500 hours of deliberate rest, and 30,000 hours of sleep.“
Toronto’s Real Estate Mania (Meagan Campbell)
“The most aggressive salesman was realtor Tim Payne, a presenter who was expected to spill secrets on flipping houses but spent nearly two hours advertising his $995 three-day course, charging an extra $6,000 for access to contacts. “I wanna kick your legs out and choke you until you’re wealthy,” he said. As the father of six boys, he boasted to the crowd, “I feed them money. They just crap out money.”
Enjoy your weekend!