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8 Ways to Becoming Smart Like Charlie Munger (Learning the Inversion Mental Model)
Charlie Munger is considered one of the greatest investors of the 20th century. As a Vice Co-chairman of Berkshire Hathaway with his brilliant and well-known partner Warren Buffet, they created an investment portfolio that produced staggering wealth. Charlie’s secret is his reliance on a formalized way of thinking called “mental models” that has served him throughout his life to become successful. What makes Charlie’s mind tick? What does he refer to as his “bag of tricks” that he relies on to analyze and dissect the businesses and investments that have made Berkshire Hathaway and his portfolio of investments such a success? “I was very lucky because every place I’d looked,…
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8 Strategies for Maintaining Your Financial Health and Overall Wellness
If you find yourself constantly stressed about money, you’re not alone. Money is one of the biggest sources of stress and anxiety in people’s lives. But you can take control of your finances and significantly reduce your stress with a little effort. We share eight strategies to maintain (or improve) your financial health and overall wellness: This article was guest written by Jeff Nguyen from Piggy Bank Power. Jeff Nguyen is a retired high school economics teacher. He created Piggy Bank Power to provide clarity for anyone who’s struggling with financial literacy. He hopes the site’s resources and advice will empower readers to save for their futures and become as…
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8 Reasons For Bank Runs (And How to Protect Your Money)
We had a dramatic weekend, as regulators saw bank customers rushing to access their money in Silicon Valley Bank (SVB) before it completely failed. As of this writing, SVB has failed, while the next bank to suffer the same fate this weekend was Signature Bank in New York. The next bank that regulators are closely watching is San Francisco-based First Republic Bank, which currently is in its last leg as JPMorgan Chase & Co. has stepped in to inject funds to help it keep afloat. What is going on, and why are banks failing? In this article, we will explain the causes of these bank failures and bank runs and…
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8 Lessons to Create a Budget
When it comes to the most vital skills in personal finance, I think learning how to create a budget is at the top. Whether you’re a college student, a stay-at-home parent, or a young professional, budgeting is a critical aspect of achieving financial success. I have learned a lot about personal finance and have consolidated my knowledge in this blog, here are 8 lessons to create a budget like a personal finance expert. Furthermore, know that how you manage your money by creating a budget can mean whether you become successful with money or not. Therefore, let’s start first with the first point, and that is having a goal. 1.…
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8 Reasons Why Investing in Silver Makes More Sense Now
8 Reasons Why Investing in Silver Makes More Sense Now In an ongoing old debate about gold versus silver as a better investment. Why is now the best time to buy silver? Gold has been the dominant precious metal in investment portfolios for as long as we can remember. However, with a historical difference in the gold-to-silver ratio, the growing demand for silver in industrial applications, and silver’s role as money, the hedge against inflation makes a strong case for the white metal. Our analysis indicates why silver is an ideal choice if you’re planning to diversify your portfolio by adding a precious metal. 1. Silver is at record low…
