Quote for the Week
Every sale raises a series of questions, often surrounding relative values and opportunity costs. What will you do with the proceeds? Do you have something in mind that you think might produce a superior return? What might you miss by switching to the new investment? And what will you give up if you decide not to switch and continue to hold the asset in your portfolio? Or perhaps you decide to sell and don’t plan to reinvest the proceeds. In that case, what’s the likelihood that holding the proceeds in cash will make you better off than you would have been if you had held on to the thing you sold? Selling an asset is a decision that absolutely must not be considered in isolation. — Howard Marks (source)
From the Archives
Last Call
- Wild Minds – M. Housel
- How Social Media Shapes Economic Perception – K. Scanlon
- 5-Step Guide to Processing Ambiguous Market and Economic News – TKer
- Not All Total Returns Are Created Equal – J. Rekenthaler
- Speculation Temptation – Investment Talk
- Ben Graham’s Mother Gave Him a Key Message – Beyond Ben Graham
- Inside Ray Dalio’s Hedge Fund – NY Mag
- The Secretive Industry Devouring the U.S. Economy – Atlantic
- A 500-Year-Old Record of the Aztec Empire Comes to Life – Atlas Obscura
- Humans As Drivers of Evolution – JSTOR Daily
