Creative planning for anyone under 60 should be about building a career/business that is uniquely suited to their skills, taking a few idiosyncratic risks, concentrating before diversifying, and hoarding bitcoins.
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Andy Flattery
@andyflattery
Owner/Head Janitor @ simplewealthkc.com & Host of The Reformed Financial Advisor Podcast.
Family, laissez faire entrepreneurship, & #bitcoin.
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This blew my mind from on
Chernobyl death toll:
around 50
Abortions after Chernobyl (by locals worried about genetic defects):
around 200,000
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Andy beat me to this - but 💯 any advisor worth their salt knows these concepts and theories are scams - imagine if they took that energy to learn about money 🤔 twitter.com/andyflattery/s
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2022 sector returns:
Energy: +65%
Tech: -28%
12/31/21 S&P weightings:
Tech: 29%
Energy: 2.7%
Indexing for the win!
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More evidence that we are reliving the 1970s. Everyone is getting into Oswald Spengler.
Jean Gimpel in "The Medieval Machine," 1975
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“If I were giving a young man advice as to how he might succeed in life, I would say to him, pick out a good father and mother, and begin life in Ohio.”
- Wilbur Wright
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Listening to on how to invest in your kids early.
TLDR: the whole thing is about picking a wife who would make a great mother
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- Everyone’s a scammer
- Everyone’s a speculator
- Everyone’s a…
What will call us out for next?
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I just noticed for the first time that parents drive their kids to the bus stop. Is this just a niche Kansas City trend or do I need to be outraged?
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Circulate this around to Webster County twitter
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About $270 of purchasing power today. My great great grandfather probably sold his corn for these.
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A $10 bank note from The Fort Dodge National Bank, 1870s
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4 year old son told my wife that I am faster than the Chiefs players
What did you accomplish today?
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The texting back and forth to set up time for a phone call is a technological regression.
The west is doomed.
Follow me for more trading tips 😂
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A distant relative announced on facebook that yesterday would be the last up day before the big market crash. Act accordingly.
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Never forget that Sam Bankman-Fried's company FTX scored highly on 'leadership and governance' for their #ESG ratings.
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Say hello to your old buddy on nostr
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"Yet over the next year it rose from $38 to $94. By 12/31/1982 it was $775 and on its way to $223,615 today—a compounded annual return of 20.8% over the past 42 years."
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"Three years later, on 12/31/1975, it was $38, a 53% drop over a period in which the S&P 500 was down only 14%. You might have dumped it in disgust at that point and never spoken to that friend again."
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"So you check out Warren Buffett and find that his investment vehicle, $brk.a, had indeed been an outstanding performer, rising from about $8 in 1962 to $80 at the end of 1972. Impressed, you bought the stock at $80 on 12/31/1972."
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Another example from "100 Baggers" by -
"Imagine if a friend had introduced you to Warren Buffett in 1972 and told you, “I’ve made a fortune investing with this Buffett guy over the past ten years, you must invest with him.”
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1/ Who remembers stock certificates?
I used to work with a regular joe who accumulated and held the same stock for decades, amassing a small fortune.
His crutch- no brokerage accounts.
Instead, he kept the stock certificates secured in safety deposit boxes.. Cold storage!
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4/ In this episode of The Reformed Financial Advisor, I unpack Chris Mayer’s modern classic “100 Baggers” and consider #bitcoin in light of the book’s principles.
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3/ Long-term holders in $tmo earned $116 for every $1 invested from 1982 to 2015, despite multiple gut wrenching drawdowns in between.
Not so convenient to trade these swings when your shares are held under lock and key, or hidden in the "coffee can."
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2/ The stock was Thermo Fisher Scientific $tmo, one of those featured in the study done by Chris Mayer in his book "100 Baggers."
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1/ Who remembers stock certificates?
I used to work with a regular joe who accumulated and held the same stock for decades, amassing a small fortune.
His crutch- no brokerage accounts.
Instead, he kept the stock certificates secured in safety deposit boxes.. Cold storage!
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"Skeptics who argue that bitcoin is not money are simply making a bearish prediction about bitcoin losing its purchasing power. They are entitled to their opinion, but bitcoin is empirically money from a neutral economic standpoint." 👇
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Bitcoin is Money!
Check out my article on the Bitcoin Financial Advisors Network. Reach out to one of the planners today if you need help!
bitcoinfinancialadvisorsnetwork.com/bitcoin-is-mon
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Reminder that the yuppy elite dismissing bitcoin is bullish
h/t
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On brand:
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gm personal finance gurus still think the next frontier is in regularizing prenups and moving from a .15% to a .09% expense ratio on your target date fund
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$10k invested since @ramit first scoffed at bitcoin.
Period: 10/30/2014 - 1/19/2023
$SPY: $22,895 (10.6% annualized return)
$BTC: $608,809 (164% annualized return)
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Based Jacksonians hulk smashing the national bank
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Replying to @ThomasGrealis
Sure. So for example the better way to have dealt with the Second Bank of the United States would’ve been to *govern* it through institutional reforms. But the Jacksonians just Hulk-smashed it, setting off a credit contraction and even more dangerous wildcat banking.
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Rest assured I have never copied another account’s viral tweet for engagement. My unoriginality is all my own.
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Checking in on the Voya Corporate Leaders Trust. This fund been hodling the same stocks since 1935, with the only changes being due to spin-offs or mergers.
Beating the S&P by 12% in the last year.
Morgen Rochard on why #bitcoin makes saving money relevant again:
"It is impossible for you to use a money as a medium of exchange unless you also expect it to be a store of value.."
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Bitcoin is Money!
Check out my article on the Bitcoin Financial Advisors Network. Reach out to one of the planners today if you need help!
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My aha moment with this is the distinguishing between class probability and case probability. I can calculate the gambling odds of landing on black (class probability), a game of chance. But I know with a degree of certainty that I will want vanilla ice cream (case probability).
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