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 […]
