Infinity or Zero
You see this a lot in the markets: When people say they will hold an investment forever, they will either make infinity or zero.
Advancing Your Career: MBA vs. CFA
When some people want to advance their careers, they get an MBA. That’s what I did—I graduated in 2001 with my MBA from the University of San Francisco. That was a good decision. It has proved valuable, and I learned a lot.
Financial Nihilism
Attaining wealth is harder these days, but in some ways, it is easier. I would not worry too much about it. Think about the future, or the future will think about you.
Windfalls
I have a rule about windfalls. Money is a tool, and it can be used for good or for ill. Don’t be a knucklehead—the money won’t last forever.
Gold and Personal Finance
You own gold to smooth out the ups and downs in your portfolio. This works because gold has a low or negative correlation to stocks, bonds, and other stuff.