MWB #4 - Communication, Human Biases and Wealth Principles
The impact of compelling communication skill, learning more about human biases and investment core principles.
Hello friends,
It's another Thursday. I'm always happy to write you this email.
First, I must welcome all my new subscribers. Thank you so much for coming on. Just to keep you in the loop, I write everyday and publish on my blog. What I do with this Newsletter is to bring you the best of what I wrote and the best of what I read from other every thursday. So it’s purely high signal information in your inbox weekly.
Here’s what others have got to say about me, so you are in a safe hand.
I mentioned last week that a big ANNOUNCEMENT is coming. So let me tell you what it is today.
I have started accepting articles for submission if you wish to publish your article on my blog. For now, I only accept personal finance related articles with great utility.
You can send all articles you have (new or old) to write@davidalade.com
Tweet of the week (New)
I wrote a thread on Sunday that a lot could relate with and it went viral. Beyond the vitality, it's the truth that's embedded in it for me. Those who can communicate clearly and precisely will always an easier pass in life over those can’t. And as I mentioned in the thread, who is better at doing a thing doesn’t matter, the good storyteller always win.
You should read the thread if you missed it earlier.
Best of what I wrote
3 Core Principles To Guide Your Investment Decisions
Investment can be as simple or as complicated as we make it. My goal always is to help keep it simple. I believe you go through a lot already mentally to make your money, investing it shouldn’t add to that headache. It is in that attempt that I shared this 3 principles.
Don’t lose
Asymmetric risk/reward
Diversification
This is a must read article as your walk your down to financial prosperity.
7 Things I Constantly Remind Myself Of
This article was a reflection. Life can be daunting and many times we feel helpless. I reflected on 7 things that has guided me or helped me navigate it better at different times. 3 of them:
Real happiness comes from the journey, not the arrival
Don’t stop when you have failed
I can only be me
GameStop! Same Lesson, The Future Is Unpredictable
“The most important lesson for me is that the future is unpredictable. If you think you could have seen what’s happening to GameStop coming and you could have benefited from it, you are still far away from understanding the workings of the world. Sure, if you were a member of the community that masterminded this, you would have gotten information and maybe benefited. Alas, you are probably not. The benefit of hindsight can be misleading many times” Click the link to read all.
Best Of What I Read From Others
This page on Wikipedia has been praised by some incredibly brilliant people as probably the most important page on the internet.
Cognitive biases are systematic patterns of deviation from norm and/or rationality in judgment.
The link above shows the list of all biases that are available out there. Being aware of them can give you an advantage to become a better person.
See this for example:
Wishful thinking - it is the formation of beliefs based on what might be pleasing to imagine, rather than on evidence, rationality, or reality. It is a product of resolving conflicts between belief and desire
Feels a good time to bring this up again. And it is a must read if you have not read it before or forgotten the details.
The 3 sides are:
The odds you will get hit.
The average consequences of getting hit.
The tail-end consequences of getting hit.
That’s it for this week
Until next week.
Again, thank you all for subscribing to this newsletter.