Financial Security Is The Ability To Say Yes

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Dad, can we play Monopoly? Dad, will you take a look at my bike please? It’s making a funny noise but I want to go for a ride. Dad, want to watch this video I made? Dad, can I teach you this new dance a friend sent me? Being a parent is a time sink. If I thought I wasn’t …

Of Folk Tales And Finance

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Last night my son and I took turns reading short stories before bedtime, as is our longstanding ritual. We’d finished The Hobbit and the Lord of the Rings trilogy last year, and needed some lighter fare. We’re currently halfway through a book of folk tales from around the world. I received it as a gift from a third grade student’s …

When Passion Meets Aging

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I just finished reading Barbarian Days, a delicately wrought memoir by William Finnegan, a staff writer at the New Yorker magazine. Finnegan was awarded the Pulitzer Prize for biography in 2016 for this book. Finnegan’s gift is to use his lifelong obsession with surfing as a lens to explore the eventual unfurling of a unique and distinguished life path. His …

A Visit From Scrappy Younger Me

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When you start a physician finance blog, you are burning to share your message. You say yes to every opportunity, and are flattered when anyone expresses remote interest in what you have to say. Two plus years ago, I was a young upstart approached by a similarly newish blogger who asked me to complete a written interview that he assured …

A COVID Question You Can Answer For Less Than The Cost Of Your ER Visit Copay

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This article is intended for the otherwise healthy patient under 50 years of age who thinks he may have contracted COVID. If you have a body mass index above normal, are diabetic, use an oxygen tank, or the number of medications you take exceeds the number of grandchildren whose names you can remember, this is not written for you (in …

If You Press The Button, Someone You Don’t Know Will Die

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Some of the more fantastic ethical dilemmas I encountered as a child were accompanied by Rod Serling’s haunting narration on black and white episodes of The Twilight Zone. It’s only now, as an adult member of society during a public health crisis, that I am able to draw fully on the parables from that strange and unforgettable sci-fi series. One …

The Hazards Of Passive Investing

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“A” is a managing director at a hedge fund, which provides the unique opportunity to obtain insights and perspectives that seldom reach the FIRE echo chamber. “A” has graciously agreed to let me share our most recent correspondence below, which began after I forwarded Big ERN’s recent article on the “Passive Investing Bubble.” The big concern I personally have with passive …

Frailty

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It was the day after Father’s Day, and we’d chosen a park for an outdoor, bring your own lunch picnic. It was 80 degrees and piercing California light, but we scouted some secluded bleachers beneath an awning that promised reprieve from the sun and sufficient space to maintain social distancing. There was a 100 yard walk along a 30 degree …

Understanding The Larry Portfolio

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I continue to read the 2018 edition of Reducing The Risk Of Black Swans by Swedroe and Grogan, and I’m thoroughly enjoying the intellectual exercise. Today, I’ll share my latest A-ha moment.When designing a portfolio, we often use the terms risk tolerance or risk aversion. The caveat to using these terms is that investors don’t have a terrific way of …

You Are Here

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Uncharacteristically wet morning in late June, more than drizzle but less than rain. Beyond the wall of windows in the great room: expected coastal fog but with asphalt roads visibly soaked enough to preclude my comfortably taking a morning bike ride. Seattle riders wouldn’t think twice, but it takes so little to stop a Californian. I am reading the poet …