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Hola damas y caballeros, ¿cómo están?
Bienvenidos a otra edición de TheFrugalSamurai.
Ahem, excuse me there – had the language settings all mixed up.
As much as I love speaking Russi… er Spanish, have to admit it that it makes things difficult for a predominantly English blog.
Quick and easy one today with another rendition of the classic TheFrugalSamurai’s “What I’m Viewing”.
Been a while since I’ve done one of these (last one here) so thought it best to keep us all updated on a short selection of articles, videos and links I’ve found useful in the last couple weeks to assist us on our financial and investment journey…
Wealth Management provider Schwab has commissioned a wonderful survey every year on how 1,000 Americans think about saving, spending, investing and wealth across a range of demographics.
This year’s survey has some interesting findings; among them being:
- over 1/3 admit their spending habits are influenced by images and experiences shared on social media.
- Americans believe it takes an average $2.3 million in personal net worth to be considered “wealthy.”
- with a sudden $1 million windfall, 54 percent would spend it—on a house first, followed by cars and travel.
This is a brilliant analogy of the state of the financial markets and erosion of “alpha” (out-performance) compared with over-crowding at the top of Mt Everest.
Basically, what was once exclusive and rewarding (climbing the highest peak) has become a complete log-jam, to the extent it is increasingly difficult to jostle your way to the top.
“…This is what crowds do to opportunities. No matter how good you are, if what you’re doing is very profitable, others will copy you and will be “good enough” to impinge on your game”.
I really enjoyed watching this Youtube video as former Yahoo CEO Marissa Mayer’s discloses some gems on career advice and life in general.
She’s a bit controversial in the business community but credit where credit’s due as she’s risen to the top of a male-dominated industry at one of the most recognizable names in the world.
Some of the gems include – seeking out the smartest people in the room, motivating lethargic staff as a leader and juggling family vs work commitments as a working mother.
Professor Scott Galloway (NYU Stern) wrote this witty and (often times cynical!) article on some of the unique warning signs that may be evident when a bubble is about to burst, had a GOOD cackle myself when I read the following:
- “When nations and firms start erecting big buildings, look out. The Pan Am Building, Sears Tower, and any number of giant penises plunging into Mother Earth in emerging markets are little more than multibillion-dollar dick pics and may seem like a good idea at the time but are just tacky…”
- “A CEO’s fashion can also be telling. When he or she starts showing up on stage wearing a black turtleneck (“I’m the next Steve Jobs”), it likely means not that Jobs has been reincarnated, but that the company’s stock is about to crash (Jack Dorsey) and/or the FDA is going to ban you from your own labs (Elizabeth Holmes)…”
- “When times are bad, people look to gray hair for leadership. When times are good/frothy, people look for youth…”
Lastly, something a bit different.
As a closet NBA fan (GO UTAH) this article piqued my interest on how elite NBA basketballers (and professional athletes in general), handle the pressure and stress of needing to perform game in, game out.
Can you imagine bearing the weight of expectation of MILLIONS each time you step into the limelight?
Fascinating read and a great insight into the minds of those names who we see only on TV and media. You may have heard of them… Steph Curry, Kyrie Irving, Kevin Durant, Michael Jordan, just to name a few.
So there ya go boys and girls, a short summary of what I’ve found interesting in the last couple of weeks.
There’s always something to read, something to learn, just gotta know where to look!
Nos vemos la proxima vez! Oops… there I go with the Russian again, sigh.
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