Wealth is easy to measure but hard to value.
“One of the most persistent fallacies is the reflexive association of wealth with wisdom,” Ed Borgato once wrote.
Barry Ritholtz asked people for their top 10 money rules last week.
The key thing about evolution is that everything dies. Ninety-nine percent of species are already extinct; the rest will be eventually.
The Battle of Long Island was a disaster for George Washington’s army. His 10,000 troops were crushed by the British and its 400-ship fleet.
There’s a saying – I don’t know whose – that an expert is always from out of town. It’s similar to the Bible quote that no man is a prophet in his own country. That one has deeper meaning, but they both get across an important point: Everyone’s human, everyone’s flawed, nobody knows everything. So it’s easiest to convince people that you’re special if they don’t know you well enough to see all the ways you’re not.
There aren’t many iron laws of money. But here’s one, and perhaps the most important: If expectations grow faster than income you’ll never be happy with your money. One of the most important financial skills is getting the goalpost to stop moving. It’s also one of the hardest.
Long-term thinking is easier to believe in than accomplish.
Today, we’re proud to announce that we’ve raised $200 million across two new funds — Collaborative V and Collaborative Growth.
Steven Pressfield wrote for 30 years before publishing The Legend of Bagger Vance. His career leading up to then was bleak, at one point living in a halfway house because it had cheap rent.