%% tags:: #writing/2024 #ProjectKnowledgeBase #Wealth started_date:: [[2024-05-05]] published:: project:: up:: ##### Research and idea capturing: - https://otter.ai/u/OzXG24U2XttSWzSvzwOJTXACatw?view=summary&tab=chat - Monish Pabrais interview on my first million 1:20:00 “I believe 99% of the population is better off investing on the index” https://youtu.be/XikIr0kedY8?si=IRb4eVnFDtuNijHJ - Doing nothing is the greatest skill of an investor, build this on Ben Felix 20 lessons post/video, 1:21:16 [https://youtu.be/XikIr0kedY8?si=IRb4eVnFDtuNijHJ](https://youtu.be/XikIr0kedY8?si=IRb4eVnFDtuNijHJ) %% ###### [[Wealth]] | Updated [[2024-05-18]] **Investing has been solved.** It's just not easy. Commentary on three out of 20 market lessons from [Benjamin Felix](https://www.linkedin.com/feed/#). 1. Time in the market beats timing the market. 2. Diversification is (still) the only free lunch in investing. 3. Investing has been solved. <iframe width="100%" height="315" src="https://www.youtube.com/embed/MOjS2zuQMdo?si=PDUyV4oVLtQxlOfy" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> My rule of thumb for sharing content with the network is coming back to that piece at least three times, I watched Ben Felix video at least 10 times as I write and share with people. I admire Ben's work because of his white paper references, in a world of Helpful Content Update, publication references does add legitimacy. — Commentary on three out of twenty great market lessons: 1. **Time in the market beats timing the market.** Sticking to a discipline strategy will typically be more effective than trying to time the market especially after costing taxes. Trust the process and exercise patience, time in the market makes the compound effect plays on your favor. If you need to visualize this go to money.ca calculator, make projections, and see the snowball effect for yourself. Buffet started investing at the age of 10 and 95% of his net worth was realized after his 50th birthday. 2. **Diversification is (still) the only free lunch in investing**. Diversification has been called the only free lunch investing for decades because it offers the rare opportunity to reduce risk measured by return variance without reducing expected returns. 3. **Investing has been solved.** For most people investing in a portfolio of low cost total market index funds is good enough, even if it's not perfect. — Go and watch his video, 7 minutes of wealth wisdom. ![[Pasted image 20240428121724.png]] ## Related to 1. [[Plan experiments as a habit scientist. Diversify as an investor — Speech02]] 2. [[Psychology of Money, top three quotes]] 3. [[Hands-off investing strategy]]