I hope you found this series to be a helpful resource with lots of valuable information.
Each topic could be a chapter in a book.
Before we get to our summary, just a quick reminder to share this with anyone who you think might benefit. I'm not sure what the future is for Pacenotes, but I do plan to continue writing here about investing and will probably keep it fun by using as many analogies as possible.
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On to our summary:
Investing is rigged …in your favor
The secret to getting rich is time. And compounding your returns while you grow old.
You can create a diversified portfolio across different asset classes
There’s no free lunch on Wall Street. Big returns require taking risk, even if you’re not aware of the risk!
A good portfolio is allocated across multiple asset classes. If you want to do it yourself but don’t know where to begin, you can use the published asset allocation of your favorite target date fund as a baseline.
You don’t have to DIY. You can have your money managed professionally.
If you like to DIY, first understand what type of investor you want to be. Then create an investment plan. If you fail to plan, you are planning to fail!
A good company is not always a good investment. Just like buying a car, you should care about the value you get for the price you pay.
It’s the Roaring ‘20s and the people love trading! But each transaction requires that the market finds a buyer for every seller. This can lead to volatility. Oh, and watch your taxes! There are simple ways to pay a little less.
It ain’t over ‘til it’s over. Monitor your investments and be successful.
Learn these lessons, and you’ll be on your way to growing your wealth, the way that the ancient Greeks did. Enjoy this picture of the Treasury at Delphi, where the Oracle kept her money.
Thanks for reading and I look forward to sharing more with you.
Jason Meshnick