No Worries: How to live a stress free financial life

The purpose of volatility is to make people make stupid decisions.

It works because it has the best risk/reward characteristics of any portfolio. It allows you to stay invested.

What I am in search of is scalable businesses. An internet newsletter is a scalable business. It takes the same effort to write one copy as it does a million copies. The business can grow rapidly, without much increase in overhead. If you look at all the really profitable businesses out there, they are all scalable, weightless businesses. “Weightle

When I think of making more money, that’s the first thing that I think of—all the good that I can do with it. You don’t have the ability to do any of these things if you don’t want money.

Remember, volatility is the enemy; the purpose of volatility is to make people make stupid decisions. Volatility is also the enemy of your lizard brain. It stresses you out, and makes you feel anxious.

And the business has suffered. They are no longer dynamic, risk-taking entities. In the 2000s, they would spend money on technology, payroll, and client entertainment—because they always knew they would make more. Now, no more holiday parties. Make sure you work in an industry that still has holiday parties.

In most cases, the boss thinks about the employees they like the best, and gives raises to them, regardless of job performance. Your job is not your job. Your job is to be friends with your boss. Go out to lunch, go golfing, do what you have to do; but if you don’t have a good personal relationship with your boss, if your boss personally dislikes y

They certainly wouldn’t tip someone 50% on purpose, because they see money as a zero-sum game. If you get less, then I get more. Their sole purpose in life is to accumulate as much wealth as possible, one nickel at a time, until the end, and—then what? What was all that effort for? What was the purpose? They work and save, and work and save, and ne

The idea is worth next to nothing. It is all in the execution. You have to go out there and do stuff. You solve one problem, and you solve another problem, and after you’ve solved all the problems that you can possibly solve, you get to sit on top of a big pile of cash.