7 Fascinating Reads

Good reads, short quotes.

Jul 3, 2014 at 12:59PM

Here are seven good reads from this week. 

How to be happier with money

From an interview with Harvard professor Michael Norton:

So, everything you buy, think about how it's going to affect your time. Not the product itself, but what you're going to do with it later and that massively changes your decision-making. So, not to come back to TVs, but buying a TV, you think, "Oh. This is going to be great. I'm going to have friends over and we're going to watch TV and the kids will be there. We'll have family movie night." It turns out, when you buy a TV, what you do is you watch it by yourself in a dark room. It's not good for you. If you think about, "Wait. How am I actually going to use this TV? How will it actually change my time?" you might say, "Maybe I don't want to get a TV."

This is why you can't have nice things

An interview with Bill Miller shows why most investors fail: 

As his Legg Mason Capital Management Value Trust fund sank to the bottom of the rankings, fleeing investors shrank its assets to $2.8 billion from $21 billion. He refused to but his losses  on shaken financial firms like Bear Stearns Cos. and American International Group Inc., which were then nearly wiped out. ....

[Now that stocks have rallied, Miller's fund] brought in a net $189 million last year, the fund's first increase since 2007, and money has kept coming in so far this year, boosting total assets to $2.2 billion.

Media

Ben Carlson has a great idea for an investing TV show:

  1. It would only be on once a week.
  2. Weekly guests would include the different ETF and mutual fund providers along with portfolio managers to explain their strategies and fund options.
  3. The audience could call/email/tweet their questions on the portfolio management process.
  4. There would also be a financial advisor segment to discuss how they run their client portfolios and any issues that seem to come up on a regular basis.
  5. Guests would get at least 15-20 minutes a piece instead of the 5 minute soundbites they get now so they could explain themselves and their positions in detail (other guests would include authors, bloggers, academic researchers and successful individual investors).
  6. Obviously, you would need many different voices to share their experiences and thoughts since there isn't a single way of doing things.
  7. A focal point would be investor behavior and how human nature messes with our decision-making process. There is talk of the 'dumb money' from time to time on financial programs these days, but not much coverage gets paid to the long list of cognitive biases that seem to affect every investor, both professional and novice, in different ways.

Booming

Josh Brown shows the divergence between the United States and Europe:

Ip

'merica

For your 4th of July pleasure:

The Organization for Economic Cooperation and Development, for example, periodically administers an exam called PISA to 15-year-olds in 69 countries. While results vary somewhat depending on the subject and grade level, America never looks very good. The same is true of other international tests. In PISA's math test, the United States battles it out for last place among developed countries, along with Hungary and Lithuania.

Driving

Vehicle sales are on fire:

Vehiclesalesjune

Summer travel

This list of travel tips is hilarious: 

Don't fly an airline where your checked bags might cost more than your seat.

Unless it's to a remote island, the word "Connection" should not appear on your itinerary.

Unless you are flying first class international, never eat the food, period.

Enjoy your weekend. 

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1 Key Step to Get Rich

Our mission at The Motley Fool is to help the world invest better. Whether that’s helping people overcome their fear of stocks all the way to offering clear and successful guidance on complicated-sounding options trades, we can help.

Feb 1, 2016 at 4:54PM

To be perfectly clear, this is not a get-rich action that my Foolish colleagues and I came up with. But we wouldn't argue with the approach.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich" rated The Motley Fool as the #1 place online to get smarter about investing.

"The Motley Fool aims to build a strong investment community, which it does by providing a variety of resources: the website, books, a newspaper column, a radio [show], and [newsletters]," wrote (the clearly insightful and talented) money reporter Kathleen Elkins. "This site has something for every type of investor, from basic lessons for beginners to investing commentary on mutual funds, stock sectors, and value for the more advanced."

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Articles and beyond

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In addition to the dozens of free articles we publish every day on our website, I want to highlight two must-see spots in your tour of fool.com.

For the beginning investor

Investing can seem like a Big Deal to those who have yet to buy their first stock. Many investment professionals try to infuse the conversation with jargon in order to deter individual investors from tackling it on their own (and to justify their often sky-high fees).

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Whether it's on the stationary exercise bike or during my daily commute, I spend a lot of time going nowhere. But I've found a way to make that time benefit me.

The Motley Fool offers five podcasts that I refer to as "binge-worthy financial information."

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The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

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They're all informative, entertaining, and eminently listenable ... and I don't say that simply because the hosts all sit within a Nerf-gun shot of my desk. Rule Breaker Investing and Answers contain timeless advice, so you might want to go back to the beginning with those. The other three take their cues from the market, so you'll want to listen to the most recent first. All are available at www.fool.com/podcasts.

But wait, there's more

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Get the book. Listen to a podcast. Sign up for Investor Insights. I'm not saying that any of those things will make you rich ... but Business Insider seems to think so.


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