“The most surprising development about the expanding world of abundance in the 21st century is that it most richly rewards those individuals who are increasingly grateful for every aspect of the extraordinary world that is being created around them. To the degree that you are grateful for what you have, you will get more of what you want.”
– Dan Sullivan, founder of Strategic Coach®
Mind the Gap!
If you have ever been to London, this phrase is probably familiar to you. Riders on London’s underground subway system called the “Tube” are constantly reminded by a recorded voice to “Mind the Gap”. The recording is intended to warn riders of the physical dangers they face if they misstep into the gap between the train and the platform. However, there is also a dangerous mental and emotional “Gap” which is important to avoid if we hope to live a happy life. Dan Sullivan, author and creator of The Strategic Coach® Program, describes a dangerous mental trap he calls “The Gap™”, which is a metaphor for a negative zone of emotion and thinking that can be very hazardous to your mental health and happiness.
Futurists say the first person to reach 150 years of age has already been born, and some project that people alive today will live 300 years or even longer.
– Ric Edelman
Gordon Moore was the co-founder of Intel, who famously observed in 1965 that the number of components per integrated circuit would double each year for at least a decade. Thus was born “Moore’s Law”, which essentially has become known to mean that the computing power of semiconductors will double about every 18 months. That day in 1965 was the moment the world irrevocably changed forever in a very fundamental way. It was at that moment that human innovation and technological progress changed from a steady linear rate of growth, to one that is exponential in nature.
To grasp the difference between linear growth and exponential growth, consider the following choice:
“The lesson here for investors: to reap the full benefits of an anomaly, you cannot chase the performance of the anomaly itself. In order to do so, you must be willing to accept the fact that there will inevitably be times when the anomaly is “not working.”
– Charlie Bilello
In last month’s article, we focused on “Being Non-Reactive” as one of the most important mindsets which is absolutely critical for anyone who wants to become a great investor. This month we focus on a similar, but slightly different quality…Great Investors Don’t Chase Performance
To become a great investor, one must be patient, as we have explored in the past. An important element to the virtue of Patience is the ability to understand that every investment strategy which is successful over a long period of time will inevitably have periods during which it is “not working”. Part of patience is the ability to avoid the temptation to “chase” a better performing investment strategy when yours is not working as you hoped, and give your strategy the time it needs to produce results.
What if There’s No App for that?
– Bill Bachrach
I recently read a really great blog post written by Bill Bachrach, a coach and author who specializes in consulting with Financial Advisors. Bill is an extremely insightful writer, and I thought you might enjoy the following excerpt from his recent piece called “What if there’s no app for that?”
The world is a wonderful place. This quarter, our ‘What A World’ segment takes a look at the amazing advances in medicine to treat Alzheimer’s.
Planning a successful retirement isn’t only a matter of understanding the obvious steps along the way. An alarming study by The American College pegged 80% of older Americans as illiterate when it comes to basic retirement planning knowledge.
You don’t need to have eyes in the back of your head, but knowing common retirement blind spots can make a big difference in mapping out your futures. Here are five to consider:
Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships.
– Steven Covey
I find incredible wisdom in this quote from Steven Covey, and the fact that trust is the essential foundation of every human relationship. As I was watching the coverage of the Republican convention last night, this reality really hit home for me. Time after time the various pundits and commentators on the broadcast made the point that the upcoming presidential election in November is likely to boil down to just one thing – which candidate do Americans trust more? Unfortunately, there appear to be trust issues on both sides of the aisle this year, but it seems that the candidate who can best convince people of his or her trustworthiness will earn the position as the leader of the free world.
I have every possession I want. I have friends with a lot more possessions but in some cases I think the possessions possess them, rather than the other way around
– Warren Buffett
I was reading a blog post today about an interview Warren Buffett did in 2012, in which he discussed some of his “rules for living” and making investment decisions. His rules are very interesting, and you can read the entire list HERE.
“We’re such a reactive culture… It takes a certain strength to be patient and have a plan”
– Greg Berlanti
In last month’s article we focused on Patience as one of the most important mindsets which is absolutely critical for anyone who wants to become a great investor. This month we focus on a similar, but slightly different quality…Having a Non-Reactive Attitude
To become a great investor, one must be patient, as we explored last month. However, an important element to the virtue of Patience is the ability to eliminate reactive behavior from your investing strategy – to stop and think before you make decisions. The corollary of this rule is that most of the really important investment mistakes one can make usually come as a result of becoming emotional and impulsive about current events, and feeling a need to “just do something” at precisely the wrong time.
For many people, paying attention to financial media distracts them from their primary goals.
Here’s a simple question: When was the last time you read some financial news that you acted on and then were glad you acted on it?
Unless you’re concerned with following the latest changes in tax law, there’s little value to be had in much of what passes for financial journalism. It’s a lot of noise dedicated to grabbing our time and attention. But for many, it’s just distracting them from everything else that should be more important to them.