Friday, October 9, 2020

Enough by John C. Bogle

  Some of my expectations which I had before reading the book were met. As a founder of Vanguard company John C. Bogle allocated significant part of the book describing advantages of the mutual funds and greed of the active managers.
The book is intentionally simplified, there are no numbers, calculations or anything else. Its targeting emotions.
There is an interesting statement on the greed: “… the rampant greed that threatens to overwhelm our financial system and corporate world runs deeper than money.  Not knowing what enough us subverts our professional values. It makes salespersons of those who should be fiduciaries of the investments entrusted to them.  It turns a system that should be built on trust into one with counting as its foundation.  Worse, this confusion about enough leads us astray in our larger lives. We chase false rabbits of success; we too often bow down at the altar of the transitory and finally meaningless and fail to cherish what is beyond calculation, indeed eternal”.  
 
With internet at our fingers, waiting online to serve us, we are surrounded by information, but increasingly cut off from knowledge. Facts (or, more often, factoids) are everywhere.  Wisdom, the kind of wisdom that was rife seventy – one hundred years ago is in short supply. Soon we shall know everything that does not count and nothing that does. 
 
Leadership and values
A difference between a leader and a manager? Managers task is to do things right,  then as leaders, whose task is to do the right thing. 

Friday, October 2, 2020

September 2020 update ($583,327 -$22,778 or -%3.8)

 ↑ Financial independence savings for last month $2,000
Grand total additions: $2,000 USD

↓ Emerging Markets Stock Index Fund is down by $2,717 or -2.0%
↓ Eurozone Stock Index Fund is down by $3,519 or -2.8%
↓ US 500 Stock Index Fund is down by $6,165 or -4.0%
↓ Global Small Cap Index is down by $3,038 or -2.6%
↓ Fidelity Growth Fund is down by $411 or -0.7%
↓ EUR is down to USD by 2.4% or $6,392 for my portfolio
↓ GBP is down to USD by 4.5% or $2,535 for my portfolio
Grand total losses: $24,778

Financial Independence September 2020 update