Lessons from Financial Samurai

(Read time: 4 minutes)

Good morning,

Hope you had a great weekend! Today marks the first day of Junto interviews. I think you’re going to get a ton of value from these – I know I have.

Without further ado, your Tuesday newsletter.

Read This

The best writing I’ve read recently.

The worst financial trait you can have (Morgan Housel)10 simple pieces of financial advice (Compounding Quality)When will you feel rich? (Nick Maggiulli)Why it doesn’t matter that your portfolio is down right now (Ben Carlson)If you’re looking for a deal on a used car, remember this (CarDealershipGuy)

Not That

The type of shit you should ignore.

Top Wall Street analysts say buy Apple & Spotify (CNBC)Consumer staples: The greatest opportunity to short on Wall Street (Markets Insider)

Tips (from Financial Samurai)

Today’s tip section is special. I’m excited to share my first interview and couldn’t be more excited about the guest.

Sam Dogen, AKA Financial Samurai, writes a blog (of the same name) and recently published his book Buy This, Not That (which I highly recommend). 

Here are my two favorite questions from the interview:

Cole: What do most individual investors get wrong about investing?

Sam: That they can beat the market. Sure, you might beat the market some of the time. But over a 10+-year timeframe, the majority of professional investors don’t. See the performance of active investors here.

Cole: What is your favorite way to buy your time back?

Sam: Building passive income streams. It feels amazing to have money work for you so you don’t have to. My favorite passive income stream is from physical rental properties and private real estate investments. Unlike stocks, real estate is a tangible asset that provides utility and generates income. Its value doesn’t just crash overnight.


Reader: What investment broker do you use, and why?

Cole: Personally, I use Schwab. They have tons of low-cost investment options.

If you don’t already have a brokerage account, here are two others to consider:

Vanguard – Great, low-cost options. Owned by holders of investments instead of shareholders.

Fidelity – Low-cost. Tons of ETF options.

There are plenty of brokerage accounts that offer low-cost investment opportunities. Your investments are far more important than where you hold the account.

If you’d prefer to use a robo-advisor, I personally think Wealthfront is best.

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

Together with Athletic Greens

I hope you know that most supplements are bullshit.

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This is from Wolf of Wall Street.

Matthew McConaughey (senior stockbroker) is teaching Leonardo DiCaprio (new stockbroker) how to “succeed” on Wall Street.

Skip to 0:35.

“The name of the game is to move the money from your client’s pocket into your pocket.”

Another reminder that you should handle your own money.

You don’t need a stock broker to buy stocks.

I’d be very skeptical of anyone trying to get you to buy a specific stock, especially if they cold call you.

I have a handful of exciting interviews that I’ll be releasing over the coming weeks, but next up is Nick Maggiulli, COO for Ritholtz Wealth Management and author of one of my favorite investing books: Just Keep Buying: Proven Ways to Save Money and Build Your Wealth

Get after it this week.



PS: Learn how to take advantage of your employee stock purchase program.

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).