"The education gap is a main driver of the increasing wealth gap."
That's a good point. Ironically even with 'good' schools, people pay ignorance taxes on the basics like health and how to build a business.
Question about Investing strategy: I've been more on the dollar cost-averaging side when thinking about investing. Do you do a mix of Index Funds + stock picking or you've been focused on individual stocks alone?
I have a saying which is Try or diversify. Which is to say, get good and identifying great businesses, coming up with fair valuations, and investing - or get good at diversifying—index funds are a tried and true way to do that in the equities asset class.
Few people are cut out to do the former - I’d estimate 1-2% of people. But it’s still useful to learn because you’re less likely to get roped into bad deals. Financial literacy/fluency can help prevent someone from making bad investments, if nothing else.
I am in the minority who likes purchasing shares of a few wonderful businesses and have done fairly well with it
I haven’t purchased an index fund since I was a teenager. Although i have nothing against them.
Bingo - SITG is key for internalization. The brain is great at flushing away anything not established as vitally important for its needs
Mid twenties is still ahead of many people. I started as a teenager but since I didn’t have an actual 1:1 mentor, just YouTube mentors, I didn’t really start to make big cognitive gains in the space until my early twenties. I’d wager it takes a decade or two to master anything
Ahhh that photo on the thumbnail brought me back. Love ice face 😅. I’m in Brazil now and been away from the Daks for too long… Anyway, just came across your work, thought i’d say hi, and thank you for the perspective on coaching. Reminds me a lot of mentorship. I agree, it will be coming back, I was originally “transformed” by being open and trusting to a teacher, and him being open to guiding me. We need more of this! 🙌🫡
Beautiful essay, great reflection linking your coaching experiences with this new finance coaching emerging into the foreground~
Enjoyed this! Excellent points on the coaching vs learning. I've been coaching a LOT of farmers. So true.
Wow, I love to hear that farm coaches are out there. Excellent
Love this man, enjoy the slopes!!
"The education gap is a main driver of the increasing wealth gap."
That's a good point. Ironically even with 'good' schools, people pay ignorance taxes on the basics like health and how to build a business.
Question about Investing strategy: I've been more on the dollar cost-averaging side when thinking about investing. Do you do a mix of Index Funds + stock picking or you've been focused on individual stocks alone?
(and congrats with the new offer!)
Hey Ved, I like that - “ignorance taxes”
So true
I have a saying which is Try or diversify. Which is to say, get good and identifying great businesses, coming up with fair valuations, and investing - or get good at diversifying—index funds are a tried and true way to do that in the equities asset class.
Few people are cut out to do the former - I’d estimate 1-2% of people. But it’s still useful to learn because you’re less likely to get roped into bad deals. Financial literacy/fluency can help prevent someone from making bad investments, if nothing else.
I am in the minority who likes purchasing shares of a few wonderful businesses and have done fairly well with it
I haven’t purchased an index fund since I was a teenager. Although i have nothing against them.
Oh got you - I can imagine it's a great way to learn financial analysis with some skin in the game
Interesting - you've been getting a financial education since you were a teenager then. I only started learning this stuff in my mid-20s
Bingo - SITG is key for internalization. The brain is great at flushing away anything not established as vitally important for its needs
Mid twenties is still ahead of many people. I started as a teenager but since I didn’t have an actual 1:1 mentor, just YouTube mentors, I didn’t really start to make big cognitive gains in the space until my early twenties. I’d wager it takes a decade or two to master anything
I like your friendly approachable style, and can see why people would seek out your coaching skills!
Have fun skiing from a fellow California skier! ⛷🎿 💖
Ahhh that photo on the thumbnail brought me back. Love ice face 😅. I’m in Brazil now and been away from the Daks for too long… Anyway, just came across your work, thought i’d say hi, and thank you for the perspective on coaching. Reminds me a lot of mentorship. I agree, it will be coming back, I was originally “transformed” by being open and trusting to a teacher, and him being open to guiding me. We need more of this! 🙌🫡
Always cooking up new stuff, love it
Always cookin (: