Here you will be able to find communications from the RIM team as well as helpful resources and articles.
Prof. Adam Grant explores why people refuse to give up views that are incorrect and how we can do better. We cling to our familiar tools – assumptions, habits and instincts. Missing from our toolkit is an open mind.Thinking again takes humility, effort and training. It is not an easy mindset switch. It is worthwhile if we want to grow in wisdom and effectiveness. The appendix of the book gives action items for implementing the concepts discussed in the book.
“Thinking troubles us; thinking tires us. Thinking can force us out of the familiar, comforting habits. Thinking can complicate our lives. Thinking can set us at odds, or at least complicate our relationships with those we admire or love or follow. It is easier to agree with and pass along ideas that other people find agreeable than to do the work of thinking through whether they are correct, especially given the risk that the discovery of fallacy can put us at odds with others whose approval we intrinsically seek.”
Diversifying across multiple factors may be even more effective than asset class diversification. Recent academic research has led to an explosion of factors. Swedroe and Berkin try to narrow down this list, narrowing the “factor zoo” from six hundred purported factors to eight usable ones.
The hardest thing in personal finance is to feel like you have enough. “The most important part of every plan is planning on your plan not going according to plan.” Rather than using our money to buy more stuff, we should use it build “a life that lets you do what you want, when you want, with who you want, where you want, for as long as you want.”
DIY Financial Advisor is a great book for investors who are considering managing their own portfolio or for professional investment advisors. It presents a great system- one that is accessible to those with time and interest, but it is still somewhat technical and complex.Whether an individual decides to self-implement this strategy or to hire an advisor, this book arms investors with knowledge of what pitfalls to avoid and a robust, evidence-based approach to investing.
“A meaningful life is not a matter of speed or efficiency. It’s much more a matter of what you do and why you do it than how fast you get it done.” We can stop trying to do more faster and instead focus on the few things that will bring about results we really care about. We go from managing ourselves and others to leading. We change our mentality from trying to rush around covering all of our responsibilities to living an integrated life.