Rely on the Wisdom of the Crowd In 1906 at a country fair in Plymouth, UK, 800 people participated in a contest to guess the weight of a slaughtered and dressed ox. Statistician Francis Galton was there and observed that the average guess of 1197 pounds was just 1 pound from the actual weight of […]
We all make mistakes – I know I’ve made my share. But for some reason, when it comes to investing, we are prone to repeating our mistakes – over and over. I think it’s because the “lesson” we tell ourselves we learned isn’t the right one. Too often, we get too specific in terms of […]
Autopilot can be a dangerous thing. You may have heard the fact that if a pilot’s course is off by 1 degree traveling from San Francisco to New York, she will end up 40 miles out in the Pacific Ocean. In fact, a lot of what I do is check and recalibrate my clients’ autopilot […]
Financial Planner. Financial Advisor. Investment Advisor. Or even Investment Adviser. Do these terms create vibrations of stress in your life? Yeah, me too. You see, I don’t really know what they mean! Every one of these people who calls themselves by one of these titles seems to do something a little bit, if not completely, […]
People do it all the time. In the face of their worst imaginable fears, they do it. Probably not because they want to. They do it, maybe, because that’s the way we humans are wired. What do they do? They continue. And the only thing that might be driving them is a faith in the […]
My wife makes fun of my driver. Every time we play golf, she has not one, but several “witty” comments during the round. Every time. But, you see, I like my driver. Yes, it’s 25 years old. Yes, it’s very small (or, I like to think of it as normal-sized as all the drivers these […]
The market has crashed. Like we always knew it would. We didn’t know when. We didn’t know why. And we don’t know for how long. But we knew it would crash again, which is why we plan for it. So, now what? Here are seven things you should do right now to improve your position […]
The phrase in the title of this post is said to have been first used in the novel “Don Quixote,” and is written as follows, “It is the part of a wise man to keep himself today for tomorrow, and not venture all his eggs in one basket.” The message, of course, is that it […]
As I work on the never-ending task of aligning my life with who and what I want to be, I’ve realized that a big part of this is minimizing the time I spend on unfulfilling activities. For example, I play a lot less tennis than I used to, and instead, spend more time reading. But, […]
Imagine if you could have someone else go to work and send you the paycheck. Wouldn’t that be great? Now, what if that person were brilliant, and leader in her field? What if she was an undiscovered talent who ends up making it big, and when her earnings rapidly grow over a short period of […]