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Hi Do, Here are Todd’s latest fun picks to take your financial skills to the next level... Good news! I have an investment strategy treat for you today.
The first resource (see below) is a large white paper (practically a book) titled "The Cockroach Approach" by Taylor Pearson of Mutiny Funds.
While I disagree completely with his portfolio investment conclusions, his analysis of long-term investment strategy issues is accurate, rare, and required knowledge.
He nails many important investment strategy concerns in this white paper, which makes it a great educational piece.
Unfortunately, his recommended portfolio design stands on a fundamentally flawed premise making the whole thing a bit anti-climactic. (The solution is my recommended investment strategy here.)
With that said, I like this white paper a lot - enough that I'm going to take it apart, section by section, and elaborate on the key points during future "office hours" sessions inside my Expectancy Wealth Planning community.
In case you don't know, one of the value-added benefits inside my EWP community is I dissect other authors best works to broaden the education and make sure the course is as complete and accurate as possible. Whenever my students find a book, white paper, or other quality resource that provides unusual insight on an important topic, they introduce that resource to our community so we can take it apart in detail for deeper learning through a series of office hours sessions. I record these sessions and organize them by topic of interest.
The result is we've built an entire value-added resources library of mini-courses inside the main course to encompass niche, related topics in the investment and wealth building space.
Taylor's paper will get added to this library, along with the future office hours audio education where we analyze every statement and claim made in that white paper, so if you'd like to participate then you can get lifetime access for just a one-time fee here.
The other two investment education resources this month come from the great Howard Marks.
I laughingly joke that Howard must be a subscriber to this newsletter and a student of my EWP course because his teachings so closely parallel certain key points. Of course, Howard isn't taking investment courses from me, but it's fun nonetheless to see the parallels in instruction from one of the all-time masters.
I hope you get great value from this month's resources... Taylor and I spent some time together a few years back. He's a smart, well-studied guy, and this white paper shows it. It delivers a brilliant analysis of several problems in the investment landscape. You'll learn stuff that's seldom discussed in conventional investment circles, making it well worth you time. He correctly identifies certain sources of market risk and their implications, but he unfortunately chooses low/non-correlation of passively held assets as his solution. Oops!! Read his white paper for the risk analysis and insights, but choose this solution as the best long-term approach to managing all the risks he discusses. And again, I'll explain in detail how all of this works (in case you have questions) in future office hours sessions inside my Expectancy Wealth Planning community. The Folly Of Certainty - Howard Marks Memo from Oaktree Capital Management The future is probabilistic, never deterministic. That means it is always and forever unknowable. Which is why I designed my Expectancy Wealth Building course instruction from the ground-up around expectancy analysis and uncertainty. Mathematical expectancy is how you convert an uncertain future into a confident outcome. It's how you build wealth reliably in 999 out of a 1000 lifetimes... despite all of the uncertainty. You must understand expectancy principles deep in your bones so that they permeate every financial decision you make. Risk management is what separates great investors from the pack. Unfortunately, there's very little published about investment risk management that's any good. This video from Howard Marks is a rare exception. Enjoy!
Onward and upward!
Todd Tresidder
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