Cut the Sh*t

(Read time: 3 minutes)

Good morning,

Let’s get into it! Your Tuesday newsletter.

Read This

The best articles I’ve read recently.

The art and science of spending money (Morgan Housel)What do interest rates mean for stock performance? (Of Dollars and Data)Ranking the best passive income sources (Financial Samurai)High-yield savings accounts actually have high yields now (Wealth of Common Sense)The cost of believing a clever sales pitch from an advisor: $900,000 (WSJ)

Not That

The type of shit you should ignore.

The best stocks to invest $50,000 in right now (Motley Fool)Stock market outlook for 2023: Here’s what experts predict (Yahoo)


“Our brains don’t like work. That’s where habits come in. But the likelihood that your first solution to a problem is the optimal one is not high. This is true of life and finances. That is what makes identifying bad financial habits and replacing them with better ones is crucial.”

How to replace bad financial habits

Identify the habit you’d like to change (Overspending)Create a new identity (What would someone who spends responsibly do?)Rack up small wins that reinforce that identity (Days where you don’t overspend)

How to create a new habit

Make it obvious (Use physical cues – remove shopping apps from your phone)Make it attractive (Consider your future – cutting spending will allow you to save)Make it easy (Start small, build the habit, and then scale – start with shopping or eating out)Make it satisfying (Reward yourself for small wins – Make a nice dinner for each good week of spending)


Reader: Do you invest in REITs, and if so, which ones/what percentage of your portfolio?

Cole: REITS, or real estate investment trusts, are companies that own, operate, or finance income-producing real-estate.

I invest in a Vanguard REIT with a 0.12% expense ratio and hold ~10% in my taxable brokerage account.

REITs provide further diversification from stocks and bonds, while allowing investors to get exposure to real estate passively. 

Some consider REITs to be crucial and others deem them unnecessary for a long-term portfolio.

As is the case with most things, it’s likely somewhere in the middle.

Have a question for me? Respond to this email and I’ll include it in a future newsletter.

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No clickbait. No sensationalism. Just fast & impartial news.

Join for free👇 (and send to the people in your life with questionable news habits).


When the Chargers went up 27-0, a bettor bet $1.4 million on them to win the game to net $11,200.

Jacksonville came back and won 31-30.

@DKSportsbook has confirmed that this bet was indeed made.

— Darren Rovell (@darrenrovell)
Jan 15, 2023

Some shmuck put $1.4 million down to make $11,200 on what he thought was a sure bet.

A brutal lesson in risk management and how outcomes are often driven by tails (relatively unlikely events).

For context, this guy would have made about ~$57,000 risk-free for putting $1.4 million in a 3-month certificate of deposit.

That’s it for today! Enjoy your short week and I’ll be back Thursday morning.



PS: Some life principles applied to investing are shit.

Disclaimer: This newsletter is strictly informational. It is not investment advice, tax advice, financial advice, or a solicitation to buy/sell any assets. Please do your own research. You’re an adult and you’re responsible for your own decisions. This newsletter may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links (at no cost to you).