This Sam Zell quote really has wormed its way into my head, I often say I’m chairman of everything and the CEO of nothing. I stick to what I’m good at - vision, direction, strategy. That’s where I add the most value. I spend almost my entire day listening to other people. I ask questions, … Continue reading Sam Zell: Chairman Of Everything, CEO Of Nothing
Tag: investing
Sam Zell’s Playboy Business
Sam Zell was known for his investment acumen. But Patrick O’Shaugnessy shared this quote on where one of his first business ideas came from: On one of my walks I discovered a newsstand underneath the “L” tracks. It was 1953, and a provocative new magazine called Playboy had just made its debut featuring Marilyn Monroe … Continue reading Sam Zell’s Playboy Business
Charlie Munger On Forecasts (And Vomit)
Do your own homework. It’s a good rule for life and a decent rule for school. And while we’re at it, it doesn’t hurt to check out who wrote the textbook/input your taking in either. This is all especially true when we’re making a big decision. Big decisions - houses, spouses, and blouses* - they … Continue reading Charlie Munger On Forecasts (And Vomit)
(Pre) Retirement Personality Types To Know
I know, this is a finance related work thing, but it’s so interesting. I think this applies to more than my job. Wade Pfau and Alex Murgia have this Retirement Income Style Awareness (RISA) survey. There are tons of resources focused on our psychology when we’re trying to save money. Their resource focuses exclusively on … Continue reading (Pre) Retirement Personality Types To Know
Behavioral Problems Need Behavioral Solutions
The finance industry has gone from intuitively exploiting behavioral biases, to endlessly labeling them, to discussing how to “correct” them, to (finally) start talking about how to work productively with people who are inherently… people. Messy, regular, (sometimes self-aware) people. Richard Thaler, long a lighthouse on these BeFi seas, said it beautifully in his book … Continue reading Behavioral Problems Need Behavioral Solutions
Podcast Of The Week: Luxurious LVMH
Every now and then I check the Acquired podcast feed, get intimidated by the length of the episodes (should I just read a book/the book/several books on my own?), and too often lately I move on. HOWEVER. Every time I stop and listen to one I think, “I really should listen to more of these.” … Continue reading Podcast Of The Week: Luxurious LVMH
Berry Gordy – Invest In Your People
Before there was Motown Records, there was Pop and Bertha Berry. This is a story about investing in your people. The entrepreneurial couple had grocery stores, contracting businesses, and an insurance agency on their list of accomplishments. None of them became Fortune 500 companies, but the companies were theirs. The ethos came from Booker T. … Continue reading Berry Gordy – Invest In Your People
Podcast Of The Week: The Education Of A Financial Planner (hey, it’s me?!)
Nothing like one day having a conversation with two friends who say, “hey, we should record this” and then they actually do it. My buddies Jack Forehand and Justin Carbonneau are partners at the (primarily) quant-investing shop Validea. They’re smart, make fantastic content on their podcast and YouTube channel (Excess Returns), and I go to … Continue reading Podcast Of The Week: The Education Of A Financial Planner (hey, it’s me?!)
Podcast Of The Week: Zeihan With Rogan
Zeihan is getting more famous than ever. Who else is going to make the intersections between geography and geopolitics cool? While I may not be able to tell everyone to read at least the first handful of chapters from The Accidental Superpower, I’m hoping some of you will check out Zeihan’s brain getting the Rogan … Continue reading Podcast Of The Week: Zeihan With Rogan
Lifestyle/Workstyle and Time/Money
I spend a lot of time in my professional life talking to people about “wealth.” It all boils down to healthy versus unhealthy relationships with both time and money. And then Ash Ambirge showed up with a Selfish Forever email in my inbox. Unsurprisingly, she put a few things about time vs. money, wealthy vs. … Continue reading Lifestyle/Workstyle and Time/Money