When trying to identify competitive advantages in life, we often look at the issue straight on. For example, we could outsmart our peers, be more creative than them, have better information, or just get luckier. All are possible, but may not be feasible or within our control. A different way to approach the issue is… [Read More] Go Where Nobody Else Will
Recently, I’ve been doing some studying for the CFP exam. I keep coming across a certain phrase, “all else being equal”, which comes from the Latin ceteris paribus. Whether you’re studying finance, economics, psychology, or biology you’re bound to come across it eventually. What ceteris paribus does is exactly what the translation says. It holds… [Read More] Mistaking Theory for Law
Overcommitting to something positive often becomes a net negative because the process and, in turn, the results tend to be unsustainable. We all know overnight success is a myth, but we still want to skip the process and get straight to the solution. Overcommitting to a drastic and immediate change feels like it solves our problem,… [Read More] Overcommitment Cannibalizes Lasting Success
I recently learned that UPS drivers and Derek Zoolander share something in common. They can’t turn left. If you remember, Zoolander wasn’t an “ambi-turner”. While UPS drivers can technically turn left if absolutely necessary, it’s frowned upon by management. A recent Quartz article looked into UPS’s no left turn policy. They shared how the small… [Read More] What Makes Something the “Best”
Earlier today, Peter Lazaroff shared an excellent post that he created, which put together some serious wisdom from the financial blog-osphere. The lineup of blogging all-stars weighed in on an interesting topic: what’s the biggest mistake investors make? You can check out the post on Peter’s site here: https://peterlazaroff.com/2017/01/30/whats-the-biggest-mistake-investors-make/ I think all of the participating bloggers made valuable… [Read More] Will This Still Be a Good Idea in a Few Weeks?
When it comes to winning football teams, nearly all have something in common, a franchise quarterback. There’s a reason teams are always looking to draft their next “franchise QB” and not a “franchise free safety”. The quarterback is the on-field leader who often dictates whether a team succeeds or fails. I had a theory that… [Read More] Don’t Invest Like the Browns