Wealthwoke Weekly Whammy #3 – 15 March 2019
What’s working for me this week?
WHAT I TRIED
Insight Timer (meditation app)
Having set myself the mission of practicing some form of meditation every day, I am always on the lookout for ways to help me stick to this. Fortunately there are some great apps available to assist.
Until recently, I have been using either Calm or Headspace. This week I heard about Insight Timer from a yoga teacher. So I tried it. And its amazing.
Its billed as being the largest meditation library on earth with fifteen thousand free meditations available. You can choose meditations by duration and benefit. So if you want to do a 10 minute meditation to boost your confidence, you can find one with just two clicks.
You can also log your sessions automatically through the app which is great for keeping you accountable.
The app is available for apple and android devices.
WHAT I lISTENED TO
Revisionist History, with Malcolm Gladwell (podcast)
Like most people, I love Malcolm Gladwell. He is the author of fantastic books such as The Tipping Point, Blink and David and Goliath. I even took his online writing course last year, which I can also highly recommend.
So I was pleased to stumble onto his podcast – “Revisionist History”. The premise of this podcast is to “go back and reinterpret something from the past: an event, a person, an idea. Something overlooked. Something misunderstood.”
Not only does Gladwell provide fascinating alternative theories on these events, but he does it in his own inimitable style which we have grown to love over the years through his books. He is simply a supreme story teller.
Revisionist History is already on its third season so there’s a lot of catching up to do if you haven’t found this podcast yet. I particularly enjoyed “The hug heard round the world” and “Malcolm Gladwell’s 12 rules for life” (spoiler alert – there is only 1 rule).
WHAT I READ AND LEARNED ABOUT MONEY
Big Mistakes: The Best Investors and Their Worst Mistakes
By Michael Batnick
Don’t they always say you should learn from your mistakes? Well, my thinking is that rather than learning only from my own mistakes (of which there are plenty thank you very much), I should rather learn from those made by some of the greatest investors who ever lived.
I’m not sure about you, but I’m tired of hearing of all the things that Warren Buffet did right to become the most revered investor of our time. I want to know what he did wrong. And surprisingly, he’s made plenty of mistakes that have cost him Billions. The same is true for other legendary figures, such as Bill Ackman, Chris Sacca, Jack Bogle, Mark Twain, and John Maynard Keynes.
The book definitely made me feel better about myself and gave me space to reflect more deeply on some of the investment decisions I have made over the years. For example, I have a tendency to hold on to “losers” for way too long, not because I think they will miraculously recover, but because letting them go would mean admitting I was wrong.
This is definitely in my top 5 investment books. Read it – it could save you a lot of pain and money.
Available on Kindle:
Have a great weekend, Wealthwokers.