13 Random Thoughts….

Burgess is in Amsterdam for the week and I’m playing Mr. Mom (read: less time for writing). Below are a handful of thoughts, quotes and questions that I’ve been jotting down over the past few weeks.

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“I wouldn’t own any. I don’t want to hold Treasuries now.”  Jamie Dimon, CEO of JP Morgan


Jeff Gundlach and Bill Gross tend to believe that the 37 year bond bull market has ended.


According to a New York Times story from a few years ago Suzie doesn’t like or trust or understand the stock market. This is kind of weird as most people would quote her as an investment guru.

Asked what she does with her money, “Save it and build it in municipal bonds. I buy zero-coupon municipal bonds, and all the bonds I buy are triple-A-rated and insured so that even if the city goes under, I get my money. I take a little lower interest rate to make sure my bonds are 100 percent safe and sound.”

Do you play the stock market at all? “I have a million dollars in the stock market, because if I lose a million dollars, I don’t personally care.”

In the same NYT’s piece Orman does mention that she spends $300-$500k a year on a private plane. (Ben Carlson)


“The Battle of New Orleans was one of the bloodiest skirmishes in the War of 1812. The sad thing is it never should have happened. The war had already been over for two weeks by the time almost 13,000 British and American soldiers went to battle. A peace treaty had been signed but news traveled so slowly in the early 19th century no one who was there had a clue. So they continued fighting.” Ben Carlson


“Where is the wisdom we have lost in knowledge? Where is the knowledge we have lost in information?” – T.S. Elliot


“Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” – Steve Jobs


Do you have a filtering system for eliminating irrelevant decisions and information that is more noise than signal? The whole article is here.


“Imagination is more important than knowledge.” — Albert Einstein


“If you’re not prepared to be wrong, you’ll never come up with anything original.”  Sir Ken Robinson


Are you sure your investments are appropriate for the market we are living into?


Can you write down on a napkin your investment approach for your spouse? Without using jargon? And is this the same strategy that was being used in 2008 and 2000?


“It doesn’t matter how often you are right or wrong. What matters is how right or how wrong you are. We frequently over-weigh the meaning in the probability of an outcome and under-weigh the magnitude that said outcome has. It’s okay to be wrong often if the cost is low. You only have to be right once if the gain is big.

The best way to improve any system (habits, workflows, decision frameworks, etc.) isn’t to make it more right, but it’s to make it less wrong. Before you add new processes or optimize for enhancement (making it more right), you should first remove any existing deficiencies, constraints, or bottlenecks (making it less wrong).” – Zat Rana


A 2013 Wells Fargo Survey asked married Americans what they perceived as the most difficult subjects to talk about. At the top—beating out death, politics, religion, and sex — 44% of respondents said money was the most difficult to talk about. – Carl Richards

In Your Corner,

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RC Peck, CFP

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