Weekend Reading for 4/7/2017
The Future is Bright
I’ve never met a successful pessimist. Pessimism will get you nowhere. This goes for life and investing. If you’re not optimistic about the future, why would you invest? Spend your money now because this world sucks and it’s only getting worse. When the global economy collapses, the cash in your mattress and the gold bars you’ve been hoarding aren’t going to do you any good.
Optimists, read on. Pessimists, I’m sorry. I can’t help you. You’re stuck. Over the long-term, the economy tends to pay optimistic investors. Pessimists lose out.
Chart of the Week
“Investors are showing Tesla some love. The American manufacturer of premium electric sedans and SUVs hasn’t yet sold as many cars as the other Big Three manufacturers sell in a year, but its market cap is soaring and Tesla’s crawling up behind market leader General Motors. Critics point out that this is all based on notions of what Tesla could pull off in the future. Time will tell if the firm from Palo Alto in California can prove its worth.”
3 Good Reads
Crafting Your Personal Benchmark (Daniel Egan)
“Every day we are presented with benchmarks that have nothing to do with our goals, yet challenge us to beat them. It takes real thoughtfulness and control to craft a benchmark for yourself, and measure performance relative to it, not others.”
The Best Way to Learn Anything (Shane Parrish)
“There are two types of knowledge and most of us focus on the wrong one. The first type of knowledge focuses on knowing the name of something. The second focuses on knowing something. These are not the same thing.“
Money Gives You Options (Jane Hwangbo)
“The point of money is to magnify you. If you care about something, you get the opportunity to make more impact. If you love someone, you can give them more of what they need. You can share more. You can contribute more. You can invest in your future more. You get more options.”
Enjoy your weekend!