Newsletter Archive
Issues older than 90 days
The Dark Side of Student Loans
Issue #528, June 25, 2018
The Cost of Out-sourcing Convenience
Issue #527, June 18, 2018
Social Security: 66 or 70?
Issue #526, June 11, 2018
Student Loans: There’s (Unfortunately) a Lot More!
Issue #525, June 04, 2018
Co-signing a Note
Issue #524A, May 31, 2018
The Knight Frank Luxury Index and Collectables
Issue #524, May 28, 2018
The Importance of Diversification: The Myth of Diversification
Issue #523, May 21, 2018
How to Save Thousands on Your Food Bill
Issue #522, May 14, 2018
MoviePass and Other Things
Issue #521A, May 10, 2018
Degree Inflation, Long Training Periods, and “Certification” Part III
Issue #521, May 07, 2018
Follow-up on Several Things
Issue #519A, April 25, 2018
The Kids Birthday Party Hustle
Issue #518A, April 18, 2018
A Pension Question: Part II of II
Issue #518, April 16, 2018
A Physician is an Executive
Issue #517A, April 11, 2018
A Pension Question: Part I of II
Issue #517, April 09, 2018
Is the Correction Over?
Issue #516A, April 05, 2018
Used Car Dealers, Student Loans, the Chinese, and Uncle George’s Rule
Issue #516, April 02, 2018
Starter Homes
Issue #515, March 26, 2018
Redecorating: Beware!
Issue #514, March 19, 2018
NASDAQ Closes at Record High
Issue #513, March 12, 2018
A 40% Chance
Issue #512, March 05, 2018
Several Things
Issue #511, February 27, 2018
Human Capital, Education and Wealth
Issue #510, February 19, 2018
Another Stock Market Update
Issue #509A, February 18, 2018
Some Thoughts on Savings
Issue #509, February 12, 2018
A Stock Market Upfate
Issue #508S, February 10, 2018
Who Can You Trust? Part II of II
Issue #508, February 05, 2018
The Christmas Decoration Pre-worn Jeans Hustle
Issue #Interim Bulletin #507A, February 03, 2018
2018 Outlook for Financial Markets
Issue #507, January 29, 2018
Who Can You Trust? Part I of II
Issue #506, January 22, 2018
Life Insurance Settlements
Issue #505, January 15, 2018
Commodities and Buying the Breakout
Issue #504, January 08, 2018
Buffett Wins His Bet
Issue #503A, January 04, 2018
Practice Real Estate and Free Agency
Issue #503, January 01, 2018
Outlook for 2018: Part III: Stocks and Bonds
Issue #502, December 25, 2017
My Outlook for 2018: Part Ii: Precious Metals
Issue #501A, December 21, 2017
Outlook for 2018: Hard Assets: Part I of III
Issue #501, December 18, 2017
More Thoughts on Bitcoin
Issue #500A, December 14, 2017
Fees and Good Relations with Bankers
Issue #500, December 11, 2017
Salvator Mundi
Issue #499A, December 07, 2017
Should You Rent or Own a Home?
Issue #499, December 04, 2017
A Gift Subscription
Issue #Interim Bulletin #498A, December 02, 2017
Stocks vs Real Estate: Asset Allocation: Part II of II
Issue #498, November 27, 2017
When Good Enough is Fine
Issue #497A, November 22, 2017
Stocks vs Real Estate: Asset Allocation. Part I of II
Issue #497, November 20, 2017
The Saudi Arrests and the Perils of Foreign Investing
Issue #496, November 13, 2017
Gambling and Las Vegas
Issue #495, November 06, 2017
Some Tips on Auto Insurance
Issue #494, October 31, 2017
Bitcoin and the Digital (Crypto) Currencies
Issue #493, October 23, 2017
The Coming Bear Market: Part II How to Prepare
Issue #492, October 16, 2017
Some Observations on Cemeteries
Issue #Interim Bulletin #491A, October 12, 2017
The Coming Bear Market: Part I: The Myth of Buy and Hold Forever
Issue #491, October 09, 2017
The Market makes New Highs
Issue #490, October 02, 2017
The Importance of a New High
Issue #489, September 25, 2017
A Little Insurance: Wealth, War and Wisdom
Issue #488, September 18, 2017
Some Observations
Issue #487, September 11, 2017
How to be Successful in Your Career
Issue #486A, September 07, 2017
How NOT to Buy a Home
Issue #486, September 04, 2017
This Week in the Market
Issue #485, August 28, 2017
Is the “Trump Bump” Running Out of Gas?
Issue #484, August 21, 2017
Gold is on the Move
Issue #483, August 14, 2017
The Importance of Estimation
Issue #482, August 07, 2017
Buying Art and Collecting: Part II of II
Issue #481, July 31, 2017
Buying Art and Collecting in General, Part I of II
Issue #480, July 24, 2017
Physicians need to be More Forceful: Follow-up
Issue #479, July 17, 2017
Physicians need to be More Forceful
Issue #478, July 10, 2017
Your First “Real” Investment
Issue #477, July 03, 2017
Leasing a Watch: Don’t
Issue #476, June 26, 2017
The Importance of Your Children having a Job
Issue #475, June 16, 2017
The Problem with Medical Student Debt is—the Med Schools
Issue #474, June 12, 2017
Critters and Varmints in your Home and Yard
Issue #473A, June 07, 2017
Leveraged ETFs
Issue #472, May 29, 2017
Leasing a Vehicle: Don’t!
Issue #471, May 22, 2017
Escheat
Issue #470, May 15, 2017
More on Buying Jewelry
Issue #469, May 08, 2017
Buying Jewelry: Gold, Diamonds and Pearls
Issue #468, April 30, 2017
Thomas Sowell: Part III of III
Issue #467, April 24, 2017
Thomas Sowell: Pat II of III
Issue #466, April 17, 2017
Live Close to Where You Work
Issue #465, April 10, 2017
Medtronic in Hospital Management
Issue #Interim Bulletin #464A, April 07, 2017
Thomas Sowell: Part I of II
Issue #464, April 03, 2017
A Political Contribution a an Investment: Part II of II
Issue #463, March 27, 2017
A Political Contribution as an Investment: Part I of II
Issue #462, March 20, 2017
Buffett Selling Vacation Home
Issue #461, March 13, 2017
Advanced Placement (AP) ourses
Issue #460, March 06, 2017
The Importance of a Credit History
Issue #459A, March 02, 2017
A Credit Card Scam
Issue #459, February 27, 2017
The Electronic Health Reord
Issue #458, February 20, 2017
Contracts
Issue #457, February 13, 2017
Platinum and Palladium
Issue #456, February 06, 2017
Economic Outlook for 2017: Part II of II
Issue #455A, February 02, 2017
Economic Outlook for 2017: Part I of II
Issue #455, January 30, 2017
A Story From Vegas
Issue #454A, January 25, 2017
Land Donation Deals and the IRS
Issue #454, January 23, 2017
The Theory of Gambler’s Ruin
Issue #453, January 16, 2017
Student Loans: But Wait, There’s More!
Issue #452, January 13, 2017
A Second Home
Issue #Interim Bulletin #451A, January 04, 2017
HELPING PHYSICIANS ATTAIN FINANCIAL SECURITY
By Robert M. Doroghazi, M.D., F.A.C.C.
Behavioral economics is a hot topic. The field was pioneered by psychologists Amos Tversky and Daniel Kahneman, who received the Nobel Economics Prize in 2002 (Tversky passed away in 1999). See The Undoing Project: A Friendship that Changed Our Minds (Michael Lewis, Norton, 2017). This year’s Nobel in Economics went to Richard Thaler of the U. of Chicago for his work in the field. I reviewed Thaler’s Misbehaving in Issues #412 (4/4/16) and #413 (4/11/16)
Many people have told me I’m the most efficient person they ever saw. I’m always thinking about how to save time. Being efficient with your time is the same as being efficient with your money. You want to do as good a job in less time (spend less), or a better job in the same amount of time (get more for your money).
There are times when you spend as long as you need. You play Mozart’s Flute Concerto #1 in G Major (K313) for the Boston Pops. It must be perfect. You are arguing a case before the Supreme Court. You give your best effort. Compare this to the vast majority of things you do in life. To quote Larry the Cable Guy, just “git ‘er dun” and move on.
What makes me write on this now is all the leaves in my yard. The last several years I’ve had a yard service do the fall and spring cleanup (Note: I always mow my own lawn). When finish, the yard is meticulous, nary a leaf or branch to be found. Of course, within minutes, more leaves have fallen, and the wind blows the neighbor’s leaves into your yard. I would guess half of the bill is to get the last 5% of the leaves.
I’ve already made a couple of trips around the yard with my new mower, and will make a few more over the next 2 weeks. By January 1st, my yard will look the exact same as when the yard service cleaned it up, and I’ll be about $800 ahead.
There are times when you must give your supreme effort. Otherwise:
Don’t waste your time
when good enough is fine
RMD
Thanksgiving Day, 1971, #1 Nebraska beat #2 Oklahoma 35-31 at Norman, in what I, and many others, consider to be the best college game of the era, and arguably the best since WW II. Go to YouTube and watch Johnny Rodgers punt return. It is the most thrilling play I’ve ever seen. Rodgers is just about to get caught from behind, when the defender is annihilated by a Nebraska player who comes out of nowhere for a spectacular open-field block.
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