Nicholas Gyngell | Public figure
Nicholas Gyngell
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25.01.2022 Not every financial plan is the same. That’s because people differ in many ways. We value different things, we have varied priorities and a wide range of goals set across different horizons. How do we understand what we want? This article suggests first posing to yourself a series of questions. Give it a try. It’ll get you thinking.
24.01.2022 Talk of a per-capita recession in Australia must be balanced against a strong labour market, rising business investment and a boom in infrastructure spending. This doesnt mean things couldnt be better, but it also suggests taking a more balanced view than some of the media headlines portray, as this writer argues.
23.01.2022 As we get older, theres a natural tendency to spend more time in reflection. But if youre still breathing, you still have a life to live. Imagine getting together with old friends and asking: If we met again three years from now, what would need to have happened for each of us to be happy? Carl Richards explains
23.01.2022 A few years ago, the idea of everyday investors debating the implications of inverted yield curves would have seemed fanciful. But these days, everyone has access to market information in real time via their devices. According to blogger Michael Batnick, that increases the risk of investors mistaking noise for signal.
21.01.2022 #Emotions and #Behavioural #Bias cause #Investors to behave badly leading to #Regret and costly mistakes. This sketch by Carl Richards (Behavior Gap) demonstrates the outcome of this bad behaviour well. Two important behavioural biases to understand are overconfidence and loss aversion. One involves the desire for more risk and / or fear of missing out while the other fears losing money. People also can often find it difficult to get out of the mindset of allowing the past t...o guide your investment decisions because it is much easier to extrapolate recent events out into the future than pondering whether things will change. To avoid costly mistakes and regrets an awareness of these biases and mindsets is key as well as having a plan that you will stick to no matter what emotions you may feel. #Life #Goals #Values #Money #Emotions #Finance #Wealth #Psychology #Irrational #Decisions #Emotional #Markets #Volatility #Belief #Overconfidence #Regret #Loss #Risk #Mindset #FOMO #Plan
20.01.2022 Planning a summer holiday? The success of your adventure can swing on your clarity around your goals and your degree of acceptance of what you can and cant control. A similar approach applies to investing. In this article, Jim Parker provides the vacationers guide to a successful investment experience.
20.01.2022 Happy Birthday Nathan! You have developed into a fine young boy who I am very proud of. This moment reminded me of what a school principal recently said; make sure you savour these years as they go quickly; wise words as I cannot believe you are starting school next year!
20.01.2022 If we become #Distracted and drift from our original #Desired planned path over time our #Goals are likely to turn into unattainable #Dreams. A lifetime #Regret may result as you contemplate just how your future self will explain this complacency to your family, kids and even yourself in the future? The variables and assumptions upon which a plan is based change overtime. We may also be distracted by something we have heard from our friends or seen in the media. Like the exa...mple with the compass we may become complacent or ignorant with just being slightly off track for a year or so but overtime that complacency or ignorance will compound and is likely to result in us becoming so far off track that we end up in an unfavourable destination. It is therefore worth spending the time and effort to check your plan on a regular basis to ensure that you remain on the right track to arrive at your desired destination.
19.01.2022 Another way of looking at market volatility is to understand the difference between your time horizon and your endurance. The former relates to the time needed to achieve your goals. The latter is about whether youre situated to hang around long enough to take advantage of that horizon. Morgan Housel explains.
19.01.2022 Anyone who has witnessed the spending behaviour of wealthy celebrities will know that having more money does not necessarily translate to better financial outcomes. In fact, many people get stuck in a consumption arms race in which every increase in income just gets absorbed by a higher standard of living. Ben Carlson explains.
19.01.2022 Advice around dealing with anger usually boils down to either bottling it up or giving vent to it. But what if there was a third way? This article, from the Harvard Business Review, argues that recognising our strongest emotions and acting rationally need not be incompatible concepts.
19.01.2022 Fear of missing out is a frequent motivation for those people who feel a compelling need to check their mobile phones every few minutes. The result is they often end up worrying about things they have no control over. Contemplating this, blogger Tony Isola found solace in a gruesome display at an ancient Italian church.
19.01.2022 In medicine, psychologists have noticed that ill people sometimes report feeling better even when the pill they are given contains no active substance. This happens in investment, too. People can think that short-term trading or performance-chasing is making them better off. In reality, it is all in their minds. This article explains.
17.01.2022 One cause cited for the recent run of market volatility has been fear of rising interest rates and what that might mean for shares. Speculation about the effects of higher rates always makes great click-bait. But it pays to be sceptical about these theories, as this tongue-in-cheek article from Morgan Housel suggests.
15.01.2022 I am passionate about encouraging people to think about their goals and aspirations and to put a plan in place to ensure that they are achieved. Results of this study show why it is vital to act on your hopes and dreams, and that it isnt normal to just keep putting them off indefinitely.
15.01.2022 Nathan was very excited about his big day today. The years just go too quick!
14.01.2022 Purpose behind some of the deeper questions that I may ask to determine your values and what is important to you.
14.01.2022 I often get asked the question why I changed career from being a geophysicist. As I further reflect back on that question, I realise that it was due to an increased awareness of what my own values are and what is truly meaningful to me. I think that as a result of this experience and discussions with many people about their aspirations in life that we really need to be aware or our own values prior to setting any goals or aspirations. If a person lacks awareness of what their own values are then there is a real risk of their goals and aspirations being misaligned with their values which will most likely lead to feelings of discontentment and lack of fulfillment on accomplishment of those goals or aspirations.
14.01.2022 Not every financial plan is the same. Thats because people differ in many ways. We value different things, we have varied priorities and a wide range of goals set across different horizons. How do we understand what we want? This article suggests first posing to yourself a series of questions. Give it a try. Itll get you thinking.
14.01.2022 Another reason people confuse the simplicity of an idea with the effort required to achieve it is failing to distinguish between concept and application. Understanding the mechanics of a plan is one thing. Implementing it is another. In this article, Carl Richards suggests asking yourself some tough questions first.
12.01.2022 As much as we would like to do everything in life, the truth is our options are limited. There are only so many hours in the day and only so much money to spend. Put another way, finite people, attempting to do an infinite amount, will always feel overstretched. This article lists 10 ways you can feel less busy
12.01.2022 Humans love certainty. Thats why there are polls about upcoming elections. Its why people check the weather report. And its why investors have such an appetite for market predictions. But think about this: If everyone had a crystal ball that forecast the correct way to invest, there would be no market risk.
12.01.2022 The people who feel best about their financial situation are often those who are fully aware of what their financial situation is. Knowing how much you earn is not enough. You also need a grasp on what you are spending and saving. This article highlights the virtue of clarity about your finances and your goals.
11.01.2022 Enthusiasm is always in plentiful supply at this time of year. But good intentions are rarely enough for us to achieve our resolutions. So why do we so often fail? This article cites 10 common reasons, including being in too much of a hurry and, less frequently appreciated, trying to do it all on our own or not knowing our WHY!.
10.01.2022 Everywhere you look at this time of the year, someone is telling you what stocks to buy in 2019, the chances of a recession, the likely path of interest rates and what will happen to currencies. These forecasts are really guesses and are often just a pitch to get you to trade. In fact, Barry Ritholtz sees forecasting as an exercise in futility.
10.01.2022 While were deluged with information these days, the fact is more information does not necessarily lead to better decisions. Whats often overlooked is how relevant the information is to your circumstances and whether it is actionable. This article argues that a better approach is to focus on what matters.
08.01.2022 One of the biggest traps that people fall into with investment is to associate high cost, arcane complexity and slick marketing with good outcomes. In fact, long-term winners dont do anything special. They just keep it simple and make fewer avoidable errors. In this article, Rick Ferri lists the top 10 mistakes hes seen.
07.01.2022 School holidays - brings back many memories of when I was a kid! Yes - Nathan loves his ice cream!
06.01.2022 Big financial decisions involve lots of variables your future income, your savings rate, interest rates, tax changes you know the score. We can make forecasts, of course, but that means working with incomplete information. So how can we manage this inherent uncertainty? This writer has a couple of ideas from the world of poker.
06.01.2022 Did you know that New Zealand was the worlds second best performing developed share market in three of the past seven years? Yet in 2017, it was the worst. Whos it going to be in 2019? The truth is no-one knows which countries, sectors or stocks will do well from year-to-year. And thats why you diversify, as this article explains
06.01.2022 Speculation about why the stock market rises or falls each day is great media fodder. The truth, however, is that over time, markets rise on expectation that profits will increase. And they fall because in the short term those cash flows are uncertain. The gap between the long-term return and the short-term risk is filled by our anxiety.
05.01.2022 Journalism is often referred to as writing history on the run. Every day, the news must be wrapped up into bite-sized stories, with heroes and villains, causes and effects all clearly laid out. But reality is rarely that simple. We can easily underestimate the roles of randomness and chance. This article explains.
05.01.2022 Our human tendency to judge the quality of a decision by the ultimate consequence is a simple concept. After all, results often provide a useful gauge of the value of the actions that led to them. However, as with many things, once you add a healthy dose of randomness things start to become problematic, as this article explains.
04.01.2022 Michael Pascoe is one of Australias most experienced and respected finance journalists. For many years, he hosted the Nine Networks Sunday morning business program. Now, well into his 60s, he has admitted that most daily financial markets reports are rubbish and that for journalists, they are a meaningless grind.
04.01.2022 A common view is that the most successful investors are the smartest ones. But while its true that knowledge of how markets work can help get us to where we want to go, knowhow on its own is rarely enough. Much under-rated is the virtue of discipline and the ability to tune out extraneous noise, as this article explains
03.01.2022 Feelings and hunches are usually not a good guide to long-term investment decisions. We tend to over-rate our own competence and give too much weight to recent events. This blog post from Psychology Today lists eight common behavioural biases behind dumb money decisions.
01.01.2022 There are different types of conversations about money, some concerning partners, some related to children and some to ageing parents. This blogpost presents a practical structure for 10 of these most unavoidable talks, covering why each is important, when to talk about it and how to bring it up
