I am headed to Munich today after coming out of the Dolomites.
I was too tired each evening to catch up on much work but am getting right back to work this week. I am a great mix of tired and rested.
A few readers were upset about all the biking and personal pictures and stories thinking this is ‘only’ a financial blog. Two things I like to remind people when they ask…
1. This is my personal blog and I journal for me. I want to track some great moments in my life, not just financial moments.
2. These personal stories and moments make me a better investor, improve my network and help me think about the big picture trends. That helps me be a better investor, which is my day job and if I am a better investor, hopefully you become a better investor as I diest all of it and write it down over time on this blog.
Onwards…
I got so many nice birthday wishes and have been trying to get back to everyone…thanks so much.
I also got this really nice email out of the blue from someone who reads this blog…
On August 31,2021 I became an IRA millionaire, total net worth > $1.5 million! That may not sound like something to brag about to some folks, but it is to me.Luckily I discovered you and Ivanoff. You see, I am 66 years old.- I am retired. A Kentucky hillbilly. No silver spoon. No pedigree. Not much to look at. Not a chance. No money and no investing experience. I bought 8 To 80 at a used book store.That was less than 10 years ago. As someone once asked ,”Would you rather get advice from your brother-in- law or from a winner?” Anyway, Thanks for your part in making my family better off financially. Enjoy the ride. Don.
Tomorrow is Momentum Monday and there is much to still love about the momentum in the markets from seed stage all the way through the public markets. We are also through a seasonally shaky time for stocks heading into a historically stronger season for stocks. There is also a be a lot of pessimism about stocks/valuations etc which is generally fuel for the market to keep climbing a wall of worry.
BUT,
I will share a few posts that cover my concerns…
Charlie asks ‘Is It A Time For Prudence‘?
Josh Brown lays down his beef with crypto and I agree.
Elsewhere…
I love Marc Rubinstein’s blog on all things financial. This piece on Evergrande (Chinese real estate conglomerate) is excellent.
If you are an LP of Social Leverage you get a lot of SPV (Single Purpose Vehicle) investment opportunities. My friends Jenny and Ari have a great ‘get up to speed guide on SPV’s‘
We have a new weekly Social Leverage update newsletter that Pete is organizing and writing for us. You might like to check it out.
The idea of a ‘financial super app’ started in China with Ant Financial . Now China is breaking it up. I continue to believe Americans will choose a constellation of financial apps but that won’t stop the acquisition frenzy underway by Goldman, Square, Paypal etc.
Fascinating thread on ‘Tariff Engineering‘
‘Selling Fast and Buying Slow: Heuristics and Trading Performance of Institutional Investors‘ is an excellent read.
I did not listen to any podcasts this week so I will share a couple next week.
I did watch a great documentary on Netflix about Michael Schumacher the legendary Forumala 1 champion.
Have a great Sunday.
