The Holy Grail

An old friend, who is also a member, said to me recently, geez Bill, I sure hope you find the ‘Holy Grail‘! Knowing Danny very well I asked geez, where did that come from.

Well turns out Danny uses one very specific piece of the site for his trading. Every now and then, however, he told me, he’ll start to click through all that is available. Having a specific goal in mind and a specific methodology, everything else on the site appears to him, to be a search for something.  A holy grail or different strokes for different folks?

If you read the new static home page you’ll notice the following sentence: This site is organized in much the same way a broker/advisor organizes his book: by client interests. Lots of choices are afforded depending upon your interests, psyche, financial condition, and experience. 

While sure it may seem like I’m in search of something that doesn’t exit, wait maybe it does, if you can define it.  It probably means different things to different people. For some if they can generate additional income, utilizing let’s say option writing on an income producing asset, within acceptable risk parameters, well that’s the holy grail for them.

For others it may be the ability to retire at 50 instead of 70. Again within appropriate and acceptable risk parameters. Or it could mean the ability to gain enough for a downpayment on a home, a fancy vacation, a college education.

We are all different, with different objectives and goals, different income levels, different risk tolerances,  at different ages and stages of life. What is suitable to you and fills your needs is your holy grail.  In the welcome letter to new members I state pick your area of interest, concentrate your efforts their and ignore the rest.

When I stated all that to Danny his response: Oh now I get it! Of course most think of the holy grail as big gains without risk. That my friends does not exist.

So what’s your holy grail? Think about it.

Talking Points and We’re Year Five in a 10-Year Recovery: Golub:

Does Money Buy Happiness? (Time)
Do We Need a Recession for a Meaningful Correction in Stocks? (Wealth of Common Sense)
Bond Shortfall of $460 Billion Seen Boosting Debt Markets (Bloomberg)
The Eccentric Genius Whose Time May Have Finally Come (Again) (Atlantic)
The vanished grandeur of accounting (Boston Globe)
I’d Choose Emerging Markets, Wouldn’t You? (Research Affiliates)
More Robots Won’t Mean Fewer Jobs (HBR)
Time Inc. Has a Big Problem—So Does Digital Journalism (The Atlantic)
Those Who Forget the Past… (FT Alphaville)
7 things the most-highlighted Kindle passages tell us about American readers (Vox)
Does Race or Gender Matter More to Your Paycheck? (HBR)
Realtors and Builders Differ on the Need for New Homes (Real Time Economics)
The Eric Cantor Upset: What Happened? (FiveThirtyEight)
What’s the Penalty for Pundits Who Get It Wrong? (Bloomberg View)
Google Earth Screenshots Reveal Our Planet’s Beautiful, Pattern-Like Designs (FastCo Design)

We’re Year Five in a 10-Year Recovery: Golub