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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How to think about bear markets

I heard someone smarter than me say on a podcast recently, “We don’t react to the events in our lives.  We react to our interpretation of those events.”  He was talking about mental health and mindfulness. But that wisdom, which I think might be Stoic in origin, can also be applied to investing.As I write this, the S&P/TSX is down…

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Optimists, pessimists, and realists in life and investing

My last post, Why I am not a Bitcoin investor, sparked a surprisingly positive response both in and out of the comments section - thank you to those who reached out.  Even the Canadian Moneysaver is going to pick it up for an upcoming issue.  It seems there are a lot of investors who share my reservations about cryptocurrencies and…

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