This 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.
- Invest in ETFs
- Diversify in everything humanly possible
- Across markets
- Across time
- 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.