In a weak moment, I agreed to appear on a podcast. I like podcasts, but I’m not trying to build my brand or anything like that, so my sole motivation is to help others. This can be a weak motivator in the face of doing actual work.| Michael James on Money
Having listened to a few episodes of Ramit Sethi’s podcast where he helps couples face and conquer their money issues, I looked forward to reading his book Money for Couples. In it, Sethi distills his experience helping hundreds of couples into strategies that cover a wide range of problems. It’s clear that Sethi has the skills and experience necessary to help couples with their financial problems. However, creating a book to help people solve these difficult issues on their own is ...| Michael James on Money
As investors age, two things become increasingly apparent: they need more help with their finances and investments, and they’re more vulnerable to financial exploitation. Depending on who you listen to, financial advisors are either the solution to these problems, or they are part of the problem.| Michael James on Money
I recently learned an interesting new way to abuse statistics using regressions. (I’ll describe it first in a way that requires no math background, and give some math details at the end.) It can be difficult to tell if those who abuse statistics are dangerous and well-intentioned or dangerous and know fully what they’re doing. Either way, they’re dangerous.| Michael James on Money
The 2024 investment return for my overall portfolio measured in Canadian dollars was 18.0%, which is below my benchmark return of 19.0%. The difference is primarily due to my choice a few years back to adopt an automated plan that shifts gradually away from stocks when stock prices are high as measured by the cyclically adjusted price-to-earnings ratio (CAPE) of world stocks. My benchmark doesn’t take CAPE into account.| Michael James on Money
Here’s a scenario related to credit cards that plays out far too often. To some degree it’s a problem from the past, but it still affects older people today. It has the potential to affect younger people too if they’re not careful.| Michael James on Money