Book: Unshakeable by Tony Robbins

book-imageThis book is an excerpt and a summary of „Money: Master the game” also by Tony Robbins.

I highly recommend any Tony Robbins book and this one is no exception.

This one may be better for you than „Money”, since that is a tough one to read – but very valuable.

Seemingly a book about finances – sneaks in some Tony Robbins knowledge about centering your state.

 

Amazon link

Some takeaways:

  • Invest in ETFs
  • Diversify in everything humanly possible
    • Across markets
    • Across time
    • Classes
    • Companies
    •  
  • Dont loose money / protect the downside – similar what Branson is obsessed about
  • Search for asymmetric risk / reward. -Paul Tudor Jones calls it 5:1 rule – for every dollar he risks, he expects 5
  • Know your taxes
    • Frequent trading kills you with trading fees and taxes. That extends to funds as well – when funds trade frequently, they can generate lotsa fees
    • That also extends to reballancing portfolio – better to slower bring it to target distribution

 

My Kindle Highlights

  • investors in 403(b) and 401(k) retirement plans.
  • Freedom Fact 1: On Average, Corrections Have Occurred About Once a Year Since 1900
  • Meanwhile, a study by JPMorgan found that 6 of the 10 best days in the market over the last 20 years occurred within two weeks of the 10 worst days.
  • performed well and sell the ones that have
  • “The four most expensive words in investing are ‘This time it’s different.’
  • you pay a high price for certainty.
  • Real Estate Investment Trusts.
  • publicly traded real estate investment trusts (REITs).
  • Master Limited Partnerships.
  • Asset Allocation Drives Returns.
  • 3. Always Have a Cushion.
  • The single biggest threat to your financial well-being is your own brain.
  • Mistaking Recent Events for Ongoing Trends Why Most Investors Buy the Wrong Thing at Exactly the Wrong Moment
  • as Warren Buffett says, “The stock market is a device for transferring money from the impatient to the patient.”
  • all this suffering is really just the result of an undirected mind that’s hell-bent on looking for problems!
  • Suffering trigger is “Less.”
  • 1. Suffering trigger is “Loss.”
  • 2. Suffering trigger is “Less.”
  • 3. Suffering trigger is “Never.”
  • Notice, too, that most, if not all, of our suffering is caused by focusing or obsessing about ourselves and what we might lose, have less of, or never have.
  • So what’s the biggest decision you can make in your life right now?
  • Are you committed to being happy, no matter what happens to you?
  • “I’m done with suffering. I’m going to live every day to the fullest and find juice in every moment, including the ones I don’t like, BECAUSE LIFE IS JUST TOO SHORT TO SUFFER.”
  • Whenever I start to suffer, I give myself 90 seconds to stop it so that I can return to living in a beautiful state.
  • But here’s what I do now. As soon as I feel the tension rising in my body, I catch myself. And the way that I catch myself is really simple: I gently breathe and slow things down.
  • “What’s wrong is always available . . . but so is what’s right!”
  • I’ve recorded this meditation and made it available online at http://www.unshakeable.com and on the Unshakeable mobile app, so you can listen to the audio with your eyes closed.
  • What struck me most was that everything seemed beautiful to her.
  • you can start giving even when you have very little.

 

 

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