Financial Snafus | Wisdom, Wealth, and Wellness
Financial Snafus | Wisdom, Wealth, and Wellness
Good morning, good afternoon, good evening. Depending on the part of the world you’re in. This is Jonathan Satovsky of Satovsky Asset Management and on today’s episode of “Seeking Wisdom, Wealth, and Wellness,” I want to talk about some financial snafus.
Let’s call them: 1. Garbage In, Garbage Out, and 2. False Precision.
Garbage In, Garbage Out
Many investors make decisions based on certain assumptions. And those assumptions, if the assumption is wrong, then obviously the result isn’t going to be what you expect. So to the greatest degree possible, I would suggest working with the known rather than the unknown. And if you work with the knowns, I think it’s easier to solve problems because you can work with what you know and then probabilistically go from there.
False Precision
The words “always” and “never” are a little dangerous. I think it’s better to say “sometimes’ or “could be” or “part of you believes a certain outcome” because the world is unpredictable and there’s a lot more gray than black and white. If you approach things without the “always” and “never” and instead use “sometimes,” and “could be,” you give yourself a greater chance for better expectations over the short and long run for yourself and the people that you care about.
Think about that on your Path to Wisdom, Wealth, and Wellness.
Have a great day.
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Disclosures
This blog post is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation or offer to buy any securities or interests in any strategy offered by Satovsky Asset Management, LLC (“SAM”). SAM is a registered investment advisor with the Securities and Exchange Commission – for more information see www.adviserinfo.sec.gov. Please remember that different types of investments involve varying degrees of risk, and that past performance is not indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the strategies recommended or undertaken by SAM) will be profitable. Market index information shown herein is included to show relative market performance for the periods indicated and not as standards of comparison. The market volatility, liquidity and other characteristics of SAM’s portfolio composition are materially different from the securities listed on public market indices. Market index information was compiled from sources that SAM believes to be reliable. No representation of guarantee is made hereby with respect of the accuracy or completeness or such data. Opinions are as of date of video and are subject to change. A copy of SAM’s current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request. SAM undertakes no duty to update information presented herein.
Further Reading
Jonathan Satovsky Interviews Rabbi Simon Jacobson
Always on the run
Learning something new
