We have two socialist parties in the United States but one of them concedes elections that they lose and has a basic respect of rule of law.

Your savings rate matters more than your investment returns. nonmaterial.substack.com/p/your-savin...

Your Savings Rate > Your Investment Returns

Highest Returns

nonmaterial.substack.com

I remember seeing the China Hustle documentary around 2018ish. I was convinced the Chinese economy was about to implode. The ETF is essentially flat since then. Nobody knows anything.

I wrote about the housing affordability "crisis" nonmaterial.substack.com/p/housing-af...

‘I won’t own treasury bonds because I’m worried about a debt crisis.’ Bro what do you think will happen to EVERY OTHER FINANCIAL ASSET if there is a debt crisis? About the only thing I’d want is some gold.

My latest article. I think it makes sense to embrace diversification earlier than a 'years to retirement' kind of framework. Do it at the dollar value where a 50% decline would make you say "holy shit"

Risk Tolerance & Portfolio Size

The Power of Compounding

nonmaterial.substack.com

I started a new substack. This is more just free-form blogging vs. research reports on stocks. I wrote about inflation in article #1. I hope you dig it. nonmaterial.substack.com/p/people-rea...

People Really Hate Inflation

Note: If you’re getting this in your inbox and wondering “why am I getting this?” I am valuestockgeek and I write the Security Analysis newsletter.

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I’m opposed to things like day trading, options trading, crypto, etc. and their impact on young investors. With that said, I do think it’s good to learn the hard lessons when you’re young. They are $5,000 mistakes that become lessons. This is far better than making $200,000 mistakes in your 40s.

The 'answer' to investing is to own some mix of global stocks, government bonds for the country that has the reserve currency, and some gold. Specific allocations should be tailored to your risk tolerance. Rebalance regularly. Keep costs & taxes low. Tune out forecasters.

Here's a pretty sensible portfolio. 20% VT (global large caps) 20% VIOV (US small value) 10% AVDV (international small value) 20% GLDM (gold) 20% VGLT (long-term US treasuries) 10% VGSH (short-term US treasuries) VT simulated to 50% US/50% Global ex-US here.