And most of us are… but you don’t have to be. 🙂
Wall Street Thinks You’re Dumb. The Rise of Wise Money [Banker on Wheels] – “My main concern is that a lot of media outlets bucket all retail investors together and are largely ignorant of the rise of two, relatively new breeds on retail investors. Retail investors that are active and smart. With the proliferation of new technologies, large sets of data and insightful research, substacks, closed discourse forums or Twitter, retail is gaining, in some cases, edge. Especially in fast-paced markets. Retail investors with long investment horizon that are evidence-based. This group includes communities like the Bogleheads or diligent savers that aim retire by the time they reach 40. And they successfully execute on it.”
Reports of romance scams hit record highs in 2021 [FTC] – “Online dating can be a great way to find lasting love – or even your next fling. But reports to the FTC suggest it also creates opportunities for scammers. In the past five years, people have reported losing a staggering $1.3 billion to romance scams, more than any other FTC fraud category. The numbers have skyrocketed in recent years, and 2021 was no exception – reported losses hit a record $547 million for the year. That’s more than six times the reported losses in 2017 and a nearly 80% increase compared to 2020. The median individual reported loss in 2021 was $2,400.” Wow!
Why Success Can Feel So Bitter [The Atlantic] – “This kind of pressure might seem inconceivable to you; after all, you probably aren’t an Olympic athlete. But have you ever anchored your happiness in some way to a far-off goal that you could attain only at significant personal cost, that you thought would deliver to you the satisfaction you seek or the success you crave? Maybe it’s finishing a degree, publishing a book, or making a certain amount of money. Nothing is wrong with these goals per se, but if you place your happiness in their attainment, you are setting yourself up for your own version of these bitter Olympic moments. Even if you achieve your goal, you are very unlikely to achieve the happiness you’re after. And you just might find yourself less happy than you were before you reached the mountaintop.” I felt the post-achievement hangover very acutely once and it’s as accurate as described in the article.