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Lessons about protecting capital during World War 2

This first article is fascinating because we don’t often think about how to protect ourselves (financially) during a “true” crisis like war. The pandemic was for sure a crisis, with threats to your financial life as well as your real life, but it’s not the same as war. That’s when things can get truly bad.

Protecting your capital during a war [Asia Stock Report] – “Wars are one of the greatest destroyers of capital. In Barton Bigg’s book “Wealth, War & Wisdom”, he makes the case that to protect your capital during a war, investors need to own diversified portfolios of stocks and property in safe regions. The book chronicles the experience of investors during World War II: whose wealth was destroyed and why. And what you could have done to protect your wealth.”

The Nirvana fallacy: when perfectionism leads to unrealistic solutions [Ness Labs] – ““Le mieux est l’ennemi du bien” wrote Voltaire in 1772—which translates to “better is the enemy of the good”, but is often translated as “perfect is the enemy of the good.” The Nirvana fallacy consists in comparing existing solutions with ideal, perfect ones—which are often unrealistic. A form of perfectionism, the Nirvana fallacy can lead to dangerous thinking and harmful decisions.” [History of Yesterday] – “This is the incredible true story of John Daniel, who was no ordinary gorilla”