False Proxies That Deceive Your Finances
False proxies are misleading indicators that don’t align with the desired outcome you thought they did. And they can ruin your finances.
Problem solving and logical fallacies. Behavioral economics; should pick up someone else’s garbage?
These posts all deal with the way we interact with the world. Some have a financial-twist, while others are simply my philosophical musings.
I hope these Behavior posts provide you with an actionable idea you can use to improve your life.
False proxies are misleading indicators that don’t align with the desired outcome you thought they did. And they can ruin your finances.
Personal finance is, ultimately, about allocating the limited resources in our lives. No resource is so limited, and thus so important, as our time. The list below is an important reminder of that.
An overemphasis on statistics leads to poor conclusions and poor decisions. When numbers replace thought, bad outcomes abound. It certainly happens in investing.
Outsiders think investing is about intelligence. But insiders know differently. The true secret of great investing is…
The McDonald’s Test is a simple way to ask yourself: am I *really* enjoying the fruits of my labor? Or is this one Big Mac too many…
Samuel Bolton Jr. was a successful businessman, brewer, politician, and philanthropist in Troy, NY in the late 1800s. Why, then, did Bolton kill himself by diving into a vat of hot beer?
Most good habits don’t have a “set it and forget it” solution. They take work. But investors have it easy. Unless, that is, you’re being a dummy.
I want to describe nine scientific facts that can help you achieve your personal finance goals in 2023. I hope you employ some of these ideas, because the science is true (whether you believe in it or not).
Buffalo got crushed by this storm. But probably NOT in the way you think. And there’s a valuable lesson we can learn from it.
What Robert Frost can teach us about the FIRE movement.