What I have been reading - 5th November 2020

Here’s what caught my attention over the past week or so:

I have a few questions: This is a one-minute read, but you might be thinking about it for a while.

What's the catch?: In today's world, if you are being offered anything more than about 0.5% on your savings you must ask yourself 'what's the catch'? If you want a higher yield (i.e. to get anything above inflation) you will have to be prepared to take on more risk or more volatility.

How will I ever look at America the same way again?: New York Times writer Frank Bruni articulates beautifully how half of America must feel.

When you have enough, it's time to help others: I love this article by Paul Brown about his realisation that he had 'enough' and was free to step off the treadmill.

Our recent performance sucks. Here's your $10 billion back: Value investors have had a hard time recently. It won't always be the case, but this manager couldn't wait any longer.

Charting 20 years of home prices changes in every US city: Interesting visuals, but don't be lured in by the first two sentences. A 106% increase in two decades translates into growth of 3.7% a year. Inflation over that period was 51% so your real return was 55% or just 2.2% per annum. And that doesn't include the cost of owning the property.

When the siren song of market timing is the loudest: It's always there - the temptation to market time. The siren song never goes away, but Ben Carlson puts forwards five scenarios in which it's particularly strong. I have seen all of these scenarios play out.

FINALLY:
Churchill's D-Day Task List: This is amazing. Churchill wrote a 'to-do' list titled "D-Day". What can we learn from that?

ENJOY!

Georgie

georgie@libertywealth.ky