Bank Runs and Why Zebras Don’t Get Ulcers

“Investing is not a game where the guy with the 160 IQ beats the guy with the 130 IQ. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.”- Warren BuffetIf you’re a zebra grazing on the savannah, what would trigger your stress response?  Perhaps you spot…

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Retirement Buckets: Grow your wealth and safeguard your income

I’ve heard that I should “own my age” in bonds but I’m worried that I’ll run out of money in retirement with such a conservative portfolio.  Is there another way? This is a post I wrote for my other blog, but is just as important for doctors as anyone else.  The only difference is that, if you are incorporated, some…

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Uncalculated risks

There are no solutions, only trade-offs.Thomas SowellYou can only calculate risk in hindsight.  You can't know the actual risk going forward because you don't have the data yet.  Things change.  The best you can hope for is a fuller and more accurate understanding of the range of outcomes from any given decision.  Past data can be helpful, but good decisions…

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