Weekly Mixtape For October 16th, 2022

“The headlines that may or may not be impacting your financial plan and portfolio.”

https://youtu.be/BIjuR1wGoVU

Week In Review Articles

The WSJ: Inflation Sits at 8.2% as Core Prices Hit Four-Decade High

The WSJ: Dow Closes More Than 800 Points Higher in Volatile Day

The WSJ: Mortgage Rates Hit 6.92%, a 20-Year High

The WSJ: Inflation Pushes Social Security COLA to 8.7% in 2023, Highest Increase in Four Decades

https://twitter.com/jayclouse/status/1580535354343686145

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Weekly Mixtape

Morgan Housel: Little Rules About Big Things "People have vastly different desires, except for three things: Respect, feeling useful, and control over their time. Those are nearly universal."

Casey Grisez: Resistance "I resorted to writing "STS = LTS" at the top of all my notes and papers: Short-Term Sacrifice equals Long-Term Success. (No, I was not one of the cool kids.) I wanted to remind myself to work through the hard classes, long days of homework, late nights, and endless frustration because it would pay off in the end"

Andrew Zaro: Every Storm Runs Out Of Rain "While inside of those negative periods, our brains turn on their “pessimism bias,” where our thoughts tend to skew towards the negative, insinuating things will never get better and we are doomed. The truth is rather somewhere in between - as it always seems to happen."

Dr. Joy Lere: Fault Lines "The times we choose blame are when we need nuance the most. Blame is easy, but it won’t get you where you want to go. Exert the cognitive effort to practice self-awareness and take a fuller perspective. It's much more likely to pay off. Pointing fingers rarely leads to productive outcomes."

The Reformed Broker: You Weren't Supposed To See That "When some people have prosperity and the American Dream is still a brass ring for the masses to reach for, the system works. Everyone stays in line. When the American Dream is actually attained – by everyone all at once – the system buckles. That’s what you’re living through today."

A Wealth Of Common Sense: What The Worst Case Scenario For Stocks "But when it comes to investing, you also have to balance being optimistic with being realistic. For me that means being a long-term rational optimist with the understanding that things can and will get really bad in the short-term on occasion."

Pragmatic Capital: There's No Fed Pivot Coming "Many people these days are talking about a Fed “pivot”. This idea that they will alter their rate of change in interest rates and manage the “soft landing” they desire. But this implies that they’re in control and still moving the ball towards scoring. No. The Fed has already turned the ball over and they don’t realize it yet. And when they do they’ll have to backpedal. There will be no pivot because you can’t pivot when you’ve already committed a turnover."

The Irrelevant Investor: Bad News Is Good News "Stocks go up over time, but they can experience brutal setbacks that make you question everything you once thought to be true. The key to harvesting that long-term return is patience, a strong stomach, and proper risk management, which can vary wildly from investor to investor."

PRST: On Our PRST with Austin Keen--The Grinder

PRST: The PRST--Why You Need To Keep Your Mind Positive

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