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8 Ways to Becoming Smart Like Charlie Munger (Learning the Inversion Mental Model)
Charlie Munger is considered one of the greatest investors of the 20th century. As a Vice Co-chairman of Berkshire Hathaway with his also brilliant and well-known partner Warren Buffet, they collaborated to create a staggering wealth of investment portfolio. Additionally, Charlie is modest and relies on ways of thinking called “mental models” that have served him throughout his life to become super successful. What makes Charlie’s mind tick? What are (what he refers to) his “bag-of-tricks” that he relies on to analyze and dissect businesses and investments that have made Berkshire Hathaway and his portfolio of investments such a success? “I was very lucky because every place I’d looked, at…
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8 Strategies for Maintaining Your Financial Health and Overall Wellness
If you find yourself constantly stressed about money, you’re not alone. Money is one of the biggest sources of stress and anxiety in people’s lives. But you can take control of your finances and significantly reduce your stress with a little effort. We share eight strategies to maintain (or improve) your financial health and overall wellness: This article was guest written by Jeff Nguyen from Piggy Bank Power. Jeff Nguyen is a retired high school economics teacher. He created Piggy Bank Power to provide clarity for anyone who’s struggling with financial literacy. He hopes the site’s resources and advice will empower readers to save for their futures and become as…
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8 Key Lessons on Managing Oneself
As I relax on this lovely morning, I can’t help but ponder on the importance of “managing oneself.” It’s about keeping a watchful eye on our daily actions and making necessary changes to achieve our goals efficiently, productively, and with laser-sharp focus. The “I am” I’m referring to is none other than the person staring back at me in the mirror – the “me” that’s been with me all along. I’ve often heard that successful individuals possess a higher level of self-awareness. This inner understanding enables them to remain grounded and, ultimately, more productive than most. That’s why I’ve created this blog – to explore and master the art of…
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8 Reasons For Bank Runs (And How to Protect Your Money)
We had a dramatic weekend, as regulators saw bank customers rushing to access their money in Silicon Valley Bank (SVB) before it completely failed. As of this writing, SVB has failed, while the next bank to suffer the same fate this weekend was Signature Bank in New York. The next bank that regulators are closely watching is San Francisco-based First Republic Bank, which currently is in its last leg as JPMorgan Chase & Co. has stepped in to inject funds to help it keep afloat. What is going on, and why are banks failing? In this article, we will explain the causes of these bank failures and bank runs and…
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8 Lessons to Create a Budget
When it comes to the most vital skills in personal finance, I think learning how to create a budget is at the top. Whether you’re a college student, a stay-at-home parent, or a young professional, budgeting is a critical aspect of achieving financial success. I have learned a lot about personal finance and have consolidated my knowledge in this blog, here are 8 lessons to create a budget like a personal finance expert. Furthermore, know that how you manage your money by creating a budget can mean whether you become successful with money or not. Therefore, let’s start first with the first point, and that is having a goal. 1.…
