Not just links this time
I went to a lecture on investing on Saturday, put on by the Nikkei Shimbun for subscribers. While it was much better than the last one I went to, I wasn't too impressed this time either.
The gist of it was how to use data (such as that provided by the Nikkei, natch) to choose companies to invest in. The lecturer again boasted about how he does 400 classes a year teaching people about investing. The talk was peppered with acronyms and references that the attendees clearly didn't understand, seemingly to make the presenter seem more like an expert. The audience was 90% male and 90% of retirement age. The questions people were asking at the end (how to open broker accounts, or how to invest when they didn't have 50,000 yen to make a minimum trade) showed a bit of a mismatch between the content and the needs of the participants.
I'm always very skeptical of people who claim to be great at something and then spend their whole time running around trying to get people to pay them to teach about it. I kind of doubt Warren Buffett runs around teaching 400 classes a year.
The kind of active investing showcased in this lecture makes for a good story (there was a definite push to upsell people to the 'investment school' the speaker works at), but I'm not convinced it's a good fit for most people, who should arguably just buy 2-3 index funds instead.
Once again I wasted my time so you don't have to ;)
Here are this week's links:
- A droll millionaire interview.
- Seems safer than I thought: Safe Withdrawal Rate for Early Retirees.
- What's going on with bonds? Checking in on Bond Market Losses.
- I knew the anecdote, nice to get the full story: WHAT HARRY MARKOWITZ MEANT.
- This seems familiar: INVESTING EXPERTS URGE ‘DO AS I SAY, NOT AS I DO’.
- Will we choose win-win or lose-lose. My money is on the latter: What genuine, no-bullshit ambition on climate change would look like.
- Looking good, MrFreeat33: DIVIDEND INCOME UPDATE FOR SEPTEMBER 2018.
- Given the global situation, this is incredible: Japan continues to rely on coal-fired plants despite global criticism.
- They're not the right kind of tourists, you see: Japan is struggling to deal with the foreign tourism boom.
- A former English teacher in China doing well.
- Some interesting background: What is a Security Token? A Comprehensive Guide to How They Work and Their Impact.
- The lower your fixed expenses, the tougher you are: Taking Inventory.
- My time horizon is at least 30 years, my endurance? Not so sure: Time Horizon vs. Endurance.
- Why does the stock market go down? Big Down Days.
- Were you happy or sad to see the market fall last week? Who Benefits From a Market Correction?
- Will your money last long enough? How Much Money Will You Take to Your Grave?
- I need to reprogram my brain so it enjoys doing pushups: Brain Training.
- The end of private car ownership? Why you have (probably) already bought your last car.
- Looks like it might happen this time: Gov't to announce 2019 sales tax hike to address debt mountain: reports.
What do you think? Anything good in there? I was struck by #6 and #8, particularly the jarring disconnect between them. More about that on Thursday.
And here are some books I am reading/have read/plan to read soon:
- Death's End (book three in the Chinese SF trilogy I've been reading) -Finally finished this. I really enjoyed this trilogy and it left some really big concepts in my head. To be honest, I enjoyed the first book the most, as the second and third ones went in quite a different direction. Still, some of the freshest and most original SF I have read for a while.
- The Girl in the Spider's Web (sequel to the Millenium trilogy by a different author) -Was very disappointed by this. Loved the originals, but this is just a generic ripoff with none of the flavour of the original. The writing is pretty pedestrian too. Can't recommend.
- The Martial Apprentice (autobiography by Roy Dean, a jiu-jitsu instructor I like). So far so good, if you are into martial arts :)