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Week 5: Weekend reading for health, wealth and happiness

By Sam Instone - February 04, 2021

One of the biggest news stories this week is Jeff Bezos stepping down as CEO of Amazon.

There's much to learn from Amazon's visionary founder...

Especially when it comes to setting ambitious goals and being relentless in your pursuit of them.

From a humble office in his garage to one of the richest people on earth, Jeff's futuristic plans seemed impossible, crazy even, to many.

One of the pre-Amazon names was relentless.com

The URL still redirects to Amazon today.

I'd like his story to inspire you today as you remember the new year's goals you set for yourself.

Because by this time every year, most people have already abandoned them.

But you don't have to be one of them.

You can be relentless.

Relentless in your ambitions.

Relentless in becoming better every day.

Relentless in making a positive difference in your life and the lives of others.

Use the momentum of a new month to go out and get what you really want in 2021 and beyond, after one of the most challenging years in recent history.

Where is your focus right now?

Is it scrolling through market news about the impact of Gamestop or the price of Bitcoin?

"Where focus goes, energy flows"

Instead of working towards retirement, work towards creating your ideal lifestyle.

There is usually a path to get there in a few years instead of a few decades and it begins with planning those goals.

If 2020 taught investors anything, it is:

1. The importance of staying calm when markets are volatile
2. The value of a disciplined investment strategy and diversified portfolio, and
3. The forward-looking nature of the stock market, often acting in contrast to the economy

The news stories of Gamestop this week provoked a flurry of volatility and fear, and underscored the fundamental misunderstanding that most people have about stock market investing.

On this, Ben Carlson has a great article called 'How the stock market works'.

Certainly, the golden rule of investing is don't panic.

But the reality is that none of us can stop our brains from working the way they do.

There are, however, several ways to prevent emotions such as fear from hindering your decision-making ability.

Peter Lazaroff, CIO of PlanCorp, shares some interesting thoughts in 'How hindsight bias can impact your investment decisions'.

A financial adviser's main purpose is often misunderstood as simply pointing clients in the right direction with regards to investments.

But as 2020 proved, they play many roles to help steer clients through the stormy year, including behavioural coach, agony aunt and teacher. 

Dave Butler, Dimensional Fund Advisors' Co-CEO, summarises everything your adviser should be in '10 attributes of great financial advisors'.

As always, and true to my own military roots, the final word is taken by former senior British Army officer, inspirational leader and Ironman champion David Labouchere on 'Food Sense'.

Set an example to your family about the importance of healthy eating and how that will help you achieve your life goals.

Because, any change needs to come from within and that starts with what you put into your body. 


A question for you 

Ask yourself - What will you put in your body today?


This week's meditations

"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute."
- William Feather

"I can’t tell you how to get rich quickly. I can only tell you how to get poor quickly: by trying to get rich quickly."
André Kostolany

"Keep inventing, and don’t despair when at first the idea looks crazy. Remember to wander. Let curiosity be your compass. It remains Day 1."
- Jeff Bezos

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Have a great weekend and enjoy the ‘light’ reading! 


Jeff Bezos' 'Email to Employees

Ben Carlson's blog 'How the Stock Market Works'

Peter Lazaroff on 'How Hindsight Bias Can Impact Your Investment Decisions'

Dave Butler's article '10 Attributes of Great Financial Advisors'

David Labouchere's article 'Food Sense'