“Most of us view the world as more benign than it really is, our own attributes as more favorable than they truly are, and the goals we adopt as more achievable than they are likely to be. We also tend to exaggerate our ability to forecast the future, which fosters overconfidence.” – Daniel Kahneman I…

“I don’t believe people who say they don’t care about money and I don’t trust people who care too much.” – Doc Ford According to the World Wealth Report, there are a total of 12 million individuals that are millionaires* around the globe. In the US, that number is roughly 3.7 million people. People have…

“The more you think you know, the more closed-minded you’ll be.” – Ray Dalio Every week there seems to be at least one piece of news, economic data or important meeting that market participants think will determine the fate of the markets. This week the Fed met to decide what to do about their bond…

“There seems to be some perverse human characteristic that likes to make easy things difficult.” – Warren Buffett This notecard comes from Harold Pollack, a professor at the University of Chicago. It was posted on Twitter (via @m_sendhil) a few weeks ago. I love the idea of being able to distill as much financial knowledge…

“It’s tough to stay married. My wife kisses the dog but won’t drink from my glass.” “I haven’t spoken to my wife in years. I didn’t want to interrupt her.” – Rodney Dangerfield While attending a recent wedding I was asked what financial advice I would offer to the newlyweds. Here’s what I came up…

“I remember the $0.05 hamburger and a $0.40-per-hour minimum wage, so I’ve seen a tremendous amount of inflation in my lifetime. Did it ruin the investment climate? I think not.” – Charlie Munger You can’t see it, but it’s there. Over time it can be a huge unseen risk to your investment portfolio and other…

“Every day starts, my eyes open and I reload the program of misery. I open my eyes, remember who I am, what I’m like, and I just go, ‘Ugh.’” “I don’t stop eating when I’m full. The meal isn’t over when I’m full. It’s over when I hate myself.” – Louis CK Louis CK is…

“Hindsight, the ability to explain the past, gives us the illusion that the world is understandable.” – Daniel Kahneman “Those classes of investments considered ‘best’ change from period to period.  The pathetic fallacy is what are thought to be the best are in truth only the most popular – the most active, the most talked…

“One of the most important things I’ve learnt over the years is to remember that if you don’t know what is going to happen, don’t structure your portfolio as through you do.” – James Montier According to a recent survey by Edward Jones, 63 % of Americans don’t know how rising interest rates will impact their…

“The secret to building a successful common-stock portfolio isn’t to “beat the stock market” over the next two years, it is to capture its entire return over the next two decades.” – Bill Schulteis I’m always interested in finding simple ways to explain the complex topics that are involved in the world of finance. My…