Wednesday Reading List

Speculation is an effort, probably unsuccessful, to turn a little money into a lot. Investment is an effort, which should be successful, to prevent a lot of money from becoming a little.

Fred Schwed Jr.


Talking to CNBC’s Bob Pisani – In the latest episode of the Wealthy Behavior podcast, I talk to Bob Pisani, Senior Market Correspondent for CNBC about his excellent book Shut Up and Keep Talking: Lessons on Life and Investing from the Floor of the New York Stock Exchange. Edited transcript included.

Die With Zero

A jarring read turned into something I recommend everyone read to think about getting the most out of life. I summarize it and share my perspective after working with retirees for 23 years.

Latest from the Heritage Financial team

Choosing Between a Donor Advised Fund and Qualified Charitable Distribution – Each has distinct features and benefits. If you are eligible (an IRA QCD can only be used by an individual age 70.5 or older), the choice between a DAF and QCD depends on your goals as well as your personal income tax circumstances. Here are some things to consider when deciding which might be best for you.

Looking to Be a Great Leader? These Books Show You How. by Barron’s

I shared my two favorite leadership posts in this Barron’s article about leadership.

The Magnificent Seven by Alpha Architect

While the performance of these stocks has been spectacular, it has led to the increased concentration of market-like portfolios, reducing the benefits of diversification and increasing a portfolio’s exposure to idiosyncratic risks.

An 8% Retirement Withdrawal Rate? by Morningstar

Dismantling the awful advice being peddled by radio personality Dave Ramsay about retirement.

See also: The Good News on Safe Withdrawal Rates – review of an annual study on withdrawal rates in retirement.

Congrats, Your House Made You Rich. Now Sell It. by The Wall St. Journal

Lots of baby boomers are going to sell their homes in the years ahead. The trick is to beat the crowd.

Is China Investable? by Charles Schwab Asset Management

From the end of 2001 through the end of last week, the MSCI China Index has slightly exceeded the 8.5% annualized total return for the S&P 500®. But over those 22 years, China’s stock market has been notorious for providing its gains in short surges of strong performance, amid longer stretches of underperformance that can give rise to concerns over investability.

See also: Avoiding China Has Been a Winning Investment Strategy. But It Isn’t Easy.

Fewer stores are open this Thanksgiving. See the list. by Axios

Vanguard economic and market outlook for 2024: Global summary by Vanguard

The global outlook summary highlights the top-level findings of Vanguard’s full economic and market outlook.