It’s been said that markets go up like escalators and drop like elevators. There is also Newton’s Third Law which states that for every action there is an equal and opposite reaction. This is where the Fed comes into play when markets drop like elevators.
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Following up from last week’s blog post that discussed Bertrand Russell’s Conquest of Happiness, this week will focus on some of the actions we can take and the ways we can train ourselves to welcome more happiness into our lives.
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Gary Carmell
Posted in Economy, Interest Rates, News, Trends, Uncategorized, Wealth
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Last week were engaged in our annual planning process. As part of this, we come up with key assumptions regarding the operating environment for the next three years or so. Interest rates, of course, are a huge variable in our business and dominated much of the discussion.
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“What is elementary, worldly wisdom? Well, the first rule is that you can’t really know anything if you just remember isolated facts and try and bang ‘em back. If the facts don’t hang together on a latticework of theory, you don’t have them in a usable form.”
— Charlie Munger
For me,
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For many years I have wanted to read the book Flow: The Psychology of Optimal Experience but think I have subconsciously put it off because of the author’s unpronounceable name (at least to me) for fear if someone asked me who wrote it I wouldn’t be able to say his name.
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I must admit that I was struggling to find the motivation to do this week’s post after three straight weeks of travel and a particularly busy seven days that included late-night business dinners for a number of them. Woe is me. I only bring it up because all of us face those times when we don’t want to do something and yet after we do it we inevitably feel better about having taken on the challenge.
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Please note that since the S.E.C. thinks some of my blogs crossover in terms of promoting CWS or making investment recommendations, they now need to be reviewed by our Chief Compliance Officer before being posted. As a result, after this week I anticipate that future blogs will be posted on Tuesday.
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This post will be a little self-indulgent, as it will not touch on anything related to real estate, interest rates, or economics. It is inspired by my recent attendance at the 40th reunion of my eighth-grade class.
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Gary Carmell
Posted in Economy, Investing, News, Philanthropy, Uncategorized, Wealth
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I was in New York City in 2015 and stayed near Carnegie Hall which is fitting since I wrote about Andrew Carnegie last week and plan to continue with discussing him again this week. Carnegie Hall is one of the great legacies he left behind.
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On July 25, 1998, my father, Sherman Carmell passed away and today is the anniversary. I would like to pay tribute to him by sharing this video. He was a very special person who left an indelible imprint on my life. He truly made his mark in the world despite having passed away at the relatively young age of 67.
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