Wednesday Reading List
The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.
Benjamin Graham
ICYMI: A Reader Asks: Can I Retire with $3 million? – A reader asks if it’s possible to retire with $3 million and what a retirement portfolio of that size would look like in today’s market.
The Real Deal Economy: Q2 2023 by Heritage Financial
In our “Real Deal Economy” quarterly video series Michael Waldron, Heritage Financial’s Director of Portfolio Management, digs into the most recent economic news making headlines and breaks down which data points matter for your investments, and which ones are noise that you can largely ignore.
A Dozen Contrarian Thoughts About Inflation by Barry Ritholtz
To be fair, the Fed was late to get off zero, late to recognize inflation, late to act, and they are now late to recognize inflation has fallen radically. Still, even a blind squirrel finds a nut now and then, and they should take the win and stop here.
Chart of the Week
Grading the economic schools of thought by Noahpinion
Curious who got inflation right and wring? An excellent review and at the end old-school macro did the best.
Should Emerging Markets Play a Role in Your Portfolio? by Morningstar
A critical look at an asset class that belongs in a diversified portfolio.
The stock market has Wall Street on its heels 📈 by Slate
It’s worth noting the S&P is now above all the year-end targets Wall Street forecasters had coming into the year.
Yellen Sees Disinflation Pressures at Work as Hiring Surge Fades by Bloomberg
Treasury Secretary Janet Yellen said a cooling — but not faltering — labor market is playing a key role in helping to slow US inflation, among a raft of factors imposing disinflationary pressures.
An NFL linebacker quit football to sell Pokémon cards, now he’s making millions by The Athletic
I respect the tenacity to learn how to operate a business in something he was passionate about and protect his health by stepping away.
Book Recommendation
Die With Zero: Getting All You Can from Your Money and Your Life by Bill Perkins
A common-sense guide to living rich . . . instead of dying rich.