Walter Schloss was one of the greatest investors of the 20th century. Schloss averaged a 15.3% compound return over the course of four and a half decades, versus 10% for the S&P 500. Between 1956 and 1984, his partnership’s annual compounded rate was an astounding 21.3%. A $1,000 investment made with Schloss in 1955 would […]
Warren Buffett is known for paring-down his investment ideas into simple, memorable sound bites. While these homespun sayings help us by reducing complicated concepts into a digestible format, they can lead some new investors to scratching their heads. Especially when it appears that those sayings seem to contradict the legendary investor himself! Here’s an example… […]
There’s a scene in Kubrick’s Full Metal Jacket when a General asks Private Joker why he has a peace pin on his fatigues and also a contradictory ‘Born to Kill’ inscription on his helmet. “I guess it represents the duality of man”, responds Joker, befuddling the General. The idea of duality is a good one, […]
When it comes to success, sometimes quitting is for winners. I’m willing to bet there are a number of poor money habits and bad philosophies that held you back in the past year. What if you resolved to give them up once and for all? No counting calories or cutting out cookies required, just quitting […]
It’s tough out there for many. Although America’s economy has rebounded mightily from the depths of the largest recession in a generation, there are still many that are not participating in the good times. Many are struggling, hurting even. And I’m not talking about the poor. Nope. I’m referring to the group formerly known as […]
The recently enacted tax reform bill lowered tax rates for just about every tax bracket. Time to break-out the champagne and celebrate? Hardly. While the idea of more income going into individuals’ bottom line sounds great on the surface, for most people that additional income won’t do anything to increase their net worth. If not […]
Whenever I meet someone for the first time, the inevitable question comes up…what do you do? To which I reply, “I’m retired. I retired early and now I author a blog about achieving financial freedom.” The replies I get back are usually something along the lines of – “Wow, that’s awesome! Tell me how you […]
I often wonder how people can be happy or at peace when themselves when they don’t make a commitment to financial success. How can a person reconcile wanting to be financially successful without giving their full effort to it? I had a friend once that struggled with money. Let’s call him “Henry”. Henry came to […]
There’s a particularly riveting scene in the movie 12 Years A Slave that so dramatically showcases the two differing approaches people have to life. In my experience, people generally fall into one or the other way of thinking about life that is depicted in the scene. If you haven’t seen the movie, it is based […]
In today’s video I list the top 10 financial mistakes that the medicore majority will make in 2018 (again). How do I know that they’ll make these very mistakes? It’s because they’ve been making these same mistakes for decades. It’s what keeps them in the mediocre majority… Be free. Nothing else is worth it. P.S. […]
Mediocrity doesn’t just happen. Rather, it’s something people accept over time, almost unconsciously. It seeps into their lives daily, weekly, monthly and over years. Like bad habits, the chains of mediocrity are too light to be noticed until they are too heavy to be ignored. Given the sinister nature of mediocrity, how does someone […]