The Only Free Lunch

The doubters of 60/40 sometimes show themselves up as less sophisticated. if you seen enough data, you would realize these "worries" aren't such a big deal because you seen them before. https://www.morningstar.com/funds/what-doubters-get-wrong-about-6040-portfolio

https://fiscalparadigm.com/2024/05/26/a-dollar-saved-is-two-dollars-earned/

https://aswathdamodaran.substack.com/p/the-situational-awareness-fund-blow

EM cash profitability is just not that good

Personal Finance Personal finance pada dasarnya manajemen keuangan pribadi sedemikian sehingga seluruh kebutuhan hidup bisa terpenuhi sampai finish line. Ada kebutuhan pokok rutin yg costnya wajib dipay, pastikan dulu ini tercover. Kebutuhan pokok ini jadi baseline, brp pendapatan minimum lu seharusnya. Jika ini saja blm bisa dipay, upskill dan tingkatkan HC lu sampe tercover. Kebutuhan dan keinginan bisa terlalu banyak dan mayoritas orang tidak bisa menuhin seluruhnya. Untuk itu harus bisa manage dan atur strategi. Salah satu strateginya bisa dimulai dengan menyusun prioritas. Mulai dari prioritas tertinggi dulu lanjut ke bawah kalo masih mampu. Buat planning. Brp uang yg dibutuhin dan gimana paynya. Gunakan investasi utk mempercepat mencapai financial goal, sesuaikan dgn profil masing2. Singkatnya : pikirin semua kebutuhan wajib dan goals pribadi, naikkan pendapatan, tekan pengeluaran, investasi sesuai profil, repeat until rich. Kenapa harus hemat? Menurut gw ada dua alasannya. Pertama, seperti sudah disebut, kemampuan ekonomi mayoritas orang terbatas. Dengan berhemat, lu bisa menuhin lebih bnyk goal hidup lu. Kedua, mitigasi. Masa depan penuh ketidakpastian, selalu ada alasan utk sesuatu berjalan tidak sesuai rencana. Dgn berhemat, lu menyisakan bantalan yang lebih tebal Ketika alami kegagalan. Tips dari Colin Ada dua tips dari Colin menurut gw bagus sekali. Pertama : "The real savings is you save on the expensive stuff." Waktu susun bbrp goals yg penting sekali buat lu, liat mana yg paling besar nilainya lalu coba secepatnya capai goal ini. Kedua : "My happiness and my pleasure are all mental... and mental kind of fun happens to be free." Jika kita bisa cari kesenangan yg ga ada cost yg harus dipay, ini bisa sangat membantu. #PersonalFinance

There’s something special about founder-led companies. Bain’s research found that since 2015, founder-led companies outperformed their nonfounder-led counterparts by 2.1 times in terms of total shareholder returns (TSR). Among technology companies, the difference is much starker: founder-led tech companies beat their industry peers by 2.6 times in TSR. Even if we remove the tech sector companies that powered such significant growth in the S&P 500 since 2015, founder-led companies still surpassed their non founder-led counterparts by 1.4 times in TSR.

Bottom vs Cheap @avoidasininity posting kutipan dari Howard Marks ini kemaren waktu bahas tentang IDX. Kita gak bisa tau di mana bottom (atau pucuk for that matters), tapi kita bisa tau mana yg murah/mahal (sepanjang sudah paham apa yg dibeli dan memperhitungkan faktor X). Sederhana tapi tidak mudah. Untuk yang mau nonton full version, cekidot https://www.youtube.com/watch?v=Nac62xsvk0I

So I went to the coach before the tournament finals and explained my situation. He was incredulous. "I don't know what you believe," he said to me, "but I believe that God will understand." Every one of the guys on the team came to me and said, "You've got to play. Can't you break the rule, just this one time?" It was a difficult decision to make. The team would suffer without me. The guys on the team were my best friends. We'd been dreaming about this all year. I'm a deeply religious man, so I went away to pray about what I should do. As I knelt to pray, I got a very clear feeling that I needed to keep my commitment. So I told the coach that I wasn't able to play in the championship game. In so many ways, that was a small decision—involving one of several thousand Sundays in my life. In theory, surely I could have crossed over the line just that one time and then not done it again. But looking back on it, I realize that resisting the temptation of "in this one extenuating circumstance, just this once, it's okay" has proved to be one of the most important decisions of my life. Why? Because life is just one unending stream of extenuating circumstances. Had I crossed the line that one time, I would have done it over and over and over in the years that followed. And it turned out that my teammates didn't need me. They won the game anyway. If you give in to "just this once," based on a marginal-cost analysis, you'll regret where you end up. That's the lesson I learned: it's easier to hold to your principles 100 percent of the time than it is to hold to them 98 percent of the time. The boundary—your personal moral line—is powerful because you don't cross it; if you have justified doing it once, there's nothing to stop you doing it again. Decide what you stand for. And then stand for it all the time.