Market highs | Travel and money | Road to Rio 2016
As we move deeper into the dog days of summer, your finances may not be at the top of your priority list. Luckily, that's what we're here for.
Most markets had a mild pullback over the last few weeks, but have since moved up to enjoy year-high levels, with the exception of Europe and Japan. While both have rallied somewhat, they are still a ways from their January 1 levels.
Due to recent market performances, we are beginning to rebalance positions for portfolios considerably outside of our model allocations. At this point the need is relatively small, but should the next few weeks see strong market returns, we'll ensure all the necessary rebalancing is taken care of before Labour Day.
Given the August slowdown, I thought it would be fun to include some videos and infographics I've wanted to share with you for a while.
The first is a great video ----- probably the single best explanation I've come across ----- on how the economy works by the brilliant hedge fund manager Ray Dalio. If you watch this and realize you need more Dalio in your life, his free book Principles is not only a must-read for business owners, but the first two sections should be required reading for students, as well. The book provides great advice on how to succeed in today's world, and acts as a how-to guide to becoming wiser and fulfilled.
On the review queue
Buy experiences, not things by James Hamblin: One of my pet peeves is seeing people buy stuff they don't need and sometimes can't even afford. A lot of good research has gone into finding out how to best spend our limited funds in order to get the most out of them. James Hamblin's article highlights much of that.
Animal Farm by George Orwell: A classic read by the iconic George Orwell expressing his disdain for Communist Russia. Although Animal Farm was meant for another time, it's a lasting lesson in ensuring the system or government you want in power is not the same as, or worse than, the one you want replaced. After finishing the book, I couldn't get the lyrics from The Who's "Won't Get Fooled Again" out of my head ----- "Meet the new boss...same as the old boss".
The Subtle Art of Reaching Your Potential by Taylor Pearson: Taylor Pearson's great essay covers too many important topics for me to mention them all. If you're looking to up your game or just want a fresh way of making sure you are investing your time in the right activities, this one is for you.
Dear Hank and John by Hank and John Green: My new podcast du jour! From the creators of the Crash Course YouTube channel, the brothers Green team up to create a podcast that is quirky, empathetic, educational, sombre, and funny, all at the same time. If you're interested, I'd recommend starting at the beginning, but be cautious of binge-listening!
Going Viral: Olympic Watch