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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Book review: Reboot your Portfolio

Today we have a guest post from Stefan Scott, a flat-fee financial planner from BC.  I know Stefan personally.  He's a smart, hard-working guy who specializes in helping physicians get on the path to financial independence using an evidence-based approach.  His business is called House Calls Financial Planning and his email is housecallsfp@gmail.com.  If you have any questions for him,…

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Positioning

Organisms can position themselves in one of two ways from an evolutionary perspective: specialize or generalize.  Specialist species are adapted to a narrow range of conditions.  They are specialized for their niche and out-compete other species in that space.  Specialists thrive when conditions are just right, but suffer the most when conditions change.  Think of giant pandas, venus fly traps,…

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