With the Thanksgiving holiday weekend coming up, this will be the last Apex Money until next Monday, when J.D. takes back the mantle. I just wanted to quickly say Thank you for being a reader and subscriber, we both enjoy sharing these articles with you and hope you enjoy reading them!
Onto a few gems for today:
Avoiding Stupidity is Easier than Seeking Brilliance [Farnam Street] – “We often focus on trying to be brilliant, yet many great people get far more mileage out of avoiding making stupid mistakes. Amateurs win the game when their opponent loses points, experts win the game by gaining points.” Anyone who has played chess or golf inherently knows this. In chess, you want to avoid blunders. In golf, it’s bad shots. Avoid those and you’ll be in great shape!
How to Invest Without Knowing the Future [Compound Advisors] – “In fact, admitting that you don’t know where the markets are going is often the best thing you can do as investor. Why? Because it will lead you to diversify your portfolio and prepare it for the many possible outcomes that may arise. What are some of those potential outcomes that might come as a surprise to market participants? I can think of a few today that stand out…”
The Cantillon Effect: How the Rich Get Richer [The Curiosity Chronicle] – “The Cantillon Effect is an economic concept on the distributional consequences of new money creation created by Irish-French economist and philosopher Richard Cantillon in a 1755 paper. In simple terms, the Cantillon Effect says that the flow path of new money matters—those closest to the source and entry point of the new money benefit first and most handsomely. The robust monetary and fiscal response to COVID-19—and a surging wealth inequality problem—has re-ignited the discussion over the distributional consequences of the crisis response and thrown the Cantillon Effect back into the mainstream lexicon.”
Finally, this last one has nothing to do with money but I found this New Yorker documentary entertaining. How does the Stockholm Boys’ Choir handle their performers going through puberty (and their voices crack)?
Have a good holiday!