Tired of seeing your 401k turn into a 201k...

Friday, May 20th 2022  

Domain: 

BUSINESS  

Life lesson: 

God grant me the SERENITY to ACCEPT the things I can not change COURAGE to change the things I can and the WISDOM to know the difference. 

Core idea: 

Who's selling in this market causing this volatility?

And where is the money going?

Fact #1: 

PCP

PCP-Pause Breath Proceed

They want us to do something 

Noise brings distress 

Noise makes us proceed under duress which almost always brings pain 

Fact #2: 

SHORT TERM AND LONG TERM MONEY 

Separate short term money from long-term money 

My mother taught me those who play because of need lose by obligation 

Fact #3: 

Manage the team that manages your investments, not the investments 

Build a team 

Don't try to go at it on your own. 

Don't be your own attorney 

Don't be your own doctor 

Don't be your own pharmacist 

Or Therapist 

Fact #4: 

MISTAKES l PAY l COURSE CORRECT

Expect to pay and expect to make mistakes 

Don't beat yourself if you make mistakes 

Mistakes will happen. 

Work the team 

Like a football coach, if a player is not doing their job, study the problem and do an analysis 

Course correction when necessary 

Action:

Shoot podcast