Links for June 2022

Links for June 2022

Sad situation: https://www.marketwatch.com/story/were-headed-for-a-family-feud-my-father-offered-his-3-kids-equal-monetary-gifts-my-siblings-took-cash-i-took-stock-its-soared-in-value-and-now-theyre-crying-foul-11648697565?

• I wonder if his siblings would be equally eager to give the Letter Writer money if his stocks had gone down in value?...

How to lose your job in 10 years, courtesy of the Banker on FIRE: https://bankeronfire.com/how-to-lose-your-job-in-10-years

Found a couple good reflections, with a lot of perspective (and, dare I say, wisdom):

• https://eversightwealth.com/why-perfectionism-ruins-portfolios/
• https://awealthofcommonsense.com/2021/01/its-ok-to-build-wealth-slowly/
• I'm always a fan of Ben Carlson of Ritholtz Wealth Management. In fact, several employees of that firm run insightful blogs. Really good way to share your outlook and attract the kind of clients you want!

Speaking of wisdom and perspective, George Sisti of On Course Financial Planning has a great monthly newsletter! I'm particularly fond of this recent one: https://oncoursefp.com//images/Vectors%20Apr%2022%20final.pdf

Another good one from Banker on FIRE--here are the people who beat the stock market: https://bankeronfire.com/beat-the-stock-market

• For the rest of us, there are index funds! And they work pretty well, too...

Tsunami stones, a physical representation of how important it is to avoid unnecessary risk: https://www.atlasobscura.com/places/tsunami-stones

Several articles on Universal Basic Income:

1. The first one I ever came across from this guy. I found it well-reasoned and surprisingly persuasive: https://www.scottsantens.com/engineering-argument-for-unconditional-universal-basic-income-ubi-fault-tolerance-graceful-failure-redundancy/
2. Why UBI? Because "Computer technology is already eating jobs and has been since 1990." https://medium.com/basic-income/deep-learning-is-going-to-teach-us-all-the-lesson-of-our-lives-jobs-are-for-machines-7c6442e37a49
3. How are we supposed to pay for all this? Yes, Santens has a comprehensive plan: https://medium.com/economicsecproj/how-to-reform-welfare-and-taxes-to-provide-every-american-citizen-with-a-basic-income-bc67d3f4c2b8
4. Won't that just cause rampant inflation and defeat the whole purpose? Not necessarily: https://www.scottsantens.com/would-unconditional-universal-basic-income-cause-inflation-ubi/
5. Wouldn't it be better to target only those who really need it? In short, no:  https://medium.com/basic-income/the-progressive-case-for-replacing-the-welfare-state-with-basic-income-e8bd02c5875e
6. FAQs: https://www.scottsantens.com/basic-income-faq/