My husband asked my dad too! And Xennials can be quite obsessed with ritual. But we can be quirky too. I wanted a croquembouche instead of a wedding cake. Had to be convinced. lol
I have no taste for risk. It makes me a bad poker player and likely, if I had money for investment, would not serve me well there, either. But I did NOT choose someone “safe” when I decided to marry my husband. Only a lunatic would decide her best bet was a foreign man who had just put everything he owned into starting a business in another country! Best decision ever, though.
"We know what our spouse is like today but we can’t be certain what they will be like in the distant future." Funnily enough, my lady wife and I had a conversation about this very thing this morning.
Good stuff on Keynes (I used to teach economics)
I'm reminded of the blues song, It's cheaper to keep her.
oh indeed. Many brilliant insights (including the gambling analogy you allude to.) When he did his degree at university, he failed the Economics module. Someone asked him why that was. "Because I know more about Economics than the people who examined me." 😁
I have a similar approach to investing as you, although I let my managers do it mostly as I just dont care that much. My only advice for investing is avoid green energy stocks that rely on government mandates and buy energy stocks that conform to physical reality and limits. Oil and gas and nukes have many decades yet to run.
I didn't know that, but I believe it. Fossil fuels are going to be around for a very long time. I am a genuine energy/engineering expert with +45 of experience in the field (I started young) and most of what you read in the media about the energy 'transition' is magical thinking.
Our dog is one of the happiest investments we ever made as a family. I’ve had a fear of dogs all of my life and an annoying sense that he might be a little money pit, and yet this creature unlocked something generous and playful in us. He’s still an occasional money pit, but I wouldn’t trade him.
Perhaps the wisest move on "boom stocks" would be to have some deep conversations with people who understand how the underlying technology works to better assess where it's value resides.
No one can know the future, unless they are involved in creating it, or know someone who is; but if you believe the economy will continue on its' current trajectory throughout 2025, then gold and crypto, but specifically bitcoin, are likely to repeat their 2024 performance.
The risk factors are that bitcoin is highly volatile and that metals markets are artificially suppressed, for example, a small positive change in the value of silver would add millions of dollars to the cost of producing "smart bombs" and other military hardware. The pentagon can't have that.
Oftentimes, I've found that predicting the value of investments is less about analysis of financials, technicalities and fundamentals, and more about reading the emotional plane.
Government policies directly shape the future, and government power has rarely been as concentrated as it is now. So it would be wise to simply follow all of trumps actions, with an eye to how they will affect markets, consumers, and reshape the economy as a whole.
Great post and I like these wacky AI images you've been adding lately.
Anora is a fantastic movie. A modern, original spin on Pretty Woman and the classic Cinderella story. I thought it was riveting.
In a similar (real-life) twist of convention, I asked my husband to marry me. It was a spontaneous moment and I wasn't thinking of long-term investment, I just knew that's what I wanted in that moment. I didn't bank on him taking me seriously, but he did, and a few months later, we were saying "Absolutely" and "Definitely" (in lieu of "I Do".) There was nothing remotely conventional about our engagement or marriage.
Lucky for me, aside from my dogs, it has turned out to be my favorite investment--and not a penny in sight! Love is the strongest currency of all.
I read a book about Keynes a few years back, truly a fascinating character. It's said that he was such dazzling dinner party company that he could persuade almost anyone to his POV. As with Daniel Patrick Moynihan, I sometimes wonder if technocracy might have been somewhat more viable if we had had a million Keyneses rather than just the one.
David, you have a funny habit of writing posts on something I was discussing earlier that day. Today, we were discussing how impossible it is to predict so many difficulties that can arise with a spouse, such as their becoming mentally ill or alcoholic etc etc. So marriages are necessarily heavily based on luck.
Also, as it happens Ray was an academic economist (at the LSE) until he retired – and studied with Gary Becker (later a Nobel prize-winner) who wrote a lot on the economics of marriage. You might find some of his writings interesting.
It’s trite, but as I and my parents age, it’s clear that investing in health pays off. My dad was lucky in health until his 60’s, eating nothing healthy and not really exercising, only to have one crisis after another for the last 20 years and end up in bad shape now, at 82. This year, after decades of avoiding the gym, I started paying for what I consider to be expensive physical training, and I’m feeling better than I have in years and seeing progress in unrelated areas of life, as I feel better and gain energy. I’m also a fan of spending on education and travel.
As for investments, I’m fairly risk averse. I think it’s very hard to beat averages, so I tend to index funds and buy-and-hold. We do own a rental property in a hot market that’s been unexpectedly profitable, so I appreciate real estate now. My tip to my kids is to start saving and investing young and with education about what they’re buying.
Not trite at all. i've been increasingly investing time and money in exercise and having healthy food available. All we can do is play the odds but given the pace of medical technology, i think it's an even better investment to preserve good health. I tell myself the longer I can stay healthy the better chancer I'll have of being cured if I should get a disease. Thanks Andrea for the comment.
Are you familiar with the books by John D. MacDonald? One of the characters owns a houseboat named Keynes, which is how I first came to know him almost 40 years ago now.
The Girl, the Gold Watch, and Everything! I I remember that one. I used to read his books decades ago. I forgot about him. He told a great story. Thanks Tim.
I’ve always thought of marriage more like M&A
So asking a father’s permission is regulatory approval?
Who asks dad anymore?
I didn't but my future son-in-law asked me and my son asked his father-in-law to be. I think the millennial generation is really into marriage ritual.
My husband asked my dad too! And Xennials can be quite obsessed with ritual. But we can be quirky too. I wanted a croquembouche instead of a wedding cake. Had to be convinced. lol
I have daughters and I get asked every time.
Yeah, but the rules vary administration to administration
In Judaism the Ketubah used to be like the shareholder's agreement.
Someone once said:
“If you wanna be happy for the rest of your life, never make a pretty woman your wife.”
I have no taste for risk. It makes me a bad poker player and likely, if I had money for investment, would not serve me well there, either. But I did NOT choose someone “safe” when I decided to marry my husband. Only a lunatic would decide her best bet was a foreign man who had just put everything he owned into starting a business in another country! Best decision ever, though.
Animal spirits can work well in marriage! In fact, i think they're necessary and if they're absent, that's a bad sign.
Just here to comment on the AI-generated fingers crossed in the first image. I can't unsee it now lol
"We know what our spouse is like today but we can’t be certain what they will be like in the distant future." Funnily enough, my lady wife and I had a conversation about this very thing this morning.
Good stuff on Keynes (I used to teach economics)
I'm reminded of the blues song, It's cheaper to keep her.
From what I know of Keynes he was the coolest economist ever.
oh indeed. Many brilliant insights (including the gambling analogy you allude to.) When he did his degree at university, he failed the Economics module. Someone asked him why that was. "Because I know more about Economics than the people who examined me." 😁
I have a similar approach to investing as you, although I let my managers do it mostly as I just dont care that much. My only advice for investing is avoid green energy stocks that rely on government mandates and buy energy stocks that conform to physical reality and limits. Oil and gas and nukes have many decades yet to run.
I agree with that somewhat contrarian outlook. Hybrid car sales are growing faster than EV sales.
I didn't know that, but I believe it. Fossil fuels are going to be around for a very long time. I am a genuine energy/engineering expert with +45 of experience in the field (I started young) and most of what you read in the media about the energy 'transition' is magical thinking.
Our dog is one of the happiest investments we ever made as a family. I’ve had a fear of dogs all of my life and an annoying sense that he might be a little money pit, and yet this creature unlocked something generous and playful in us. He’s still an occasional money pit, but I wouldn’t trade him.
Great answer. i fell the same about our Sophie. "this creature unlocked something generous and playful in us" is the perfect expression of this.
Perhaps the wisest move on "boom stocks" would be to have some deep conversations with people who understand how the underlying technology works to better assess where it's value resides.
No one can know the future, unless they are involved in creating it, or know someone who is; but if you believe the economy will continue on its' current trajectory throughout 2025, then gold and crypto, but specifically bitcoin, are likely to repeat their 2024 performance.
The risk factors are that bitcoin is highly volatile and that metals markets are artificially suppressed, for example, a small positive change in the value of silver would add millions of dollars to the cost of producing "smart bombs" and other military hardware. The pentagon can't have that.
Oftentimes, I've found that predicting the value of investments is less about analysis of financials, technicalities and fundamentals, and more about reading the emotional plane.
Government policies directly shape the future, and government power has rarely been as concentrated as it is now. So it would be wise to simply follow all of trumps actions, with an eye to how they will affect markets, consumers, and reshape the economy as a whole.
The future may be unknowable but it will be fascinating to watch it unfold and surprise us as it always does.
Great post and I like these wacky AI images you've been adding lately.
Anora is a fantastic movie. A modern, original spin on Pretty Woman and the classic Cinderella story. I thought it was riveting.
In a similar (real-life) twist of convention, I asked my husband to marry me. It was a spontaneous moment and I wasn't thinking of long-term investment, I just knew that's what I wanted in that moment. I didn't bank on him taking me seriously, but he did, and a few months later, we were saying "Absolutely" and "Definitely" (in lieu of "I Do".) There was nothing remotely conventional about our engagement or marriage.
Lucky for me, aside from my dogs, it has turned out to be my favorite investment--and not a penny in sight! Love is the strongest currency of all.
Thanks Petra. A happy marriage is the best investment!
I read a book about Keynes a few years back, truly a fascinating character. It's said that he was such dazzling dinner party company that he could persuade almost anyone to his POV. As with Daniel Patrick Moynihan, I sometimes wonder if technocracy might have been somewhat more viable if we had had a million Keyneses rather than just the one.
Thanks Ivy! He's a great writer so i imagine he could also be a great wit.
What if it were more like buying socks?
With locks.
You forgot frocks.
aye, I frockgot
David, you have a funny habit of writing posts on something I was discussing earlier that day. Today, we were discussing how impossible it is to predict so many difficulties that can arise with a spouse, such as their becoming mentally ill or alcoholic etc etc. So marriages are necessarily heavily based on luck.
Also, as it happens Ray was an academic economist (at the LSE) until he retired – and studied with Gary Becker (later a Nobel prize-winner) who wrote a lot on the economics of marriage. You might find some of his writings interesting.
Yes and I think it was better for me not to know all the possibilities! Ignorance=bravery. Ignorance plus luck=bliss.
ROMO! Love it!
It’s trite, but as I and my parents age, it’s clear that investing in health pays off. My dad was lucky in health until his 60’s, eating nothing healthy and not really exercising, only to have one crisis after another for the last 20 years and end up in bad shape now, at 82. This year, after decades of avoiding the gym, I started paying for what I consider to be expensive physical training, and I’m feeling better than I have in years and seeing progress in unrelated areas of life, as I feel better and gain energy. I’m also a fan of spending on education and travel.
As for investments, I’m fairly risk averse. I think it’s very hard to beat averages, so I tend to index funds and buy-and-hold. We do own a rental property in a hot market that’s been unexpectedly profitable, so I appreciate real estate now. My tip to my kids is to start saving and investing young and with education about what they’re buying.
Not trite at all. i've been increasingly investing time and money in exercise and having healthy food available. All we can do is play the odds but given the pace of medical technology, i think it's an even better investment to preserve good health. I tell myself the longer I can stay healthy the better chancer I'll have of being cured if I should get a disease. Thanks Andrea for the comment.
Are you familiar with the books by John D. MacDonald? One of the characters owns a houseboat named Keynes, which is how I first came to know him almost 40 years ago now.
The Girl, the Gold Watch, and Everything! I I remember that one. I used to read his books decades ago. I forgot about him. He told a great story. Thanks Tim.
He did indeed. They flowed so well.
ROMO! That's MY acronym!🙃