An eBook Review and Discourse — Successful entrepreneurs do three things well: they meet the needs of their clients, have products that are easy to use, and they are reliable. Lying as a Way of Life: Corruption and Collectivism Coming of Age in America by Alexandra York is all of that. …

According to the Corporate Finance Institute, Behavioral Finance Theory is based on the premise that individual investors commit errors of knowledge, make emotional decisions, and are influenced by social pressure. They also claim that Traditional Finance Theory is based on rational markets and investors, that neither are confused by errors…

An internet search for April 17, 2007 at onthisday.com reveals that nothing happened. Certainly, nothing as significant as a Black Swan event. Or did it? A Black Swan is an impossible to predict event that had a massive impact. …

The 1980 US Olympic Committee expected coach Herb Brooks to select players based on the traditional methods. Their plan was to invite a large group of the best college hockey talent in America (according to committee consensus) to a tryout. This routine is similar to testing individual investors with risk…

The common wisdom among traditional money managers is that ‘beating the market’ will improve the lives of individual investors. For the sake of bureaucratic complexity, this “wisdom” includes alternative asset classes, active management, economic analysis, market forecasts and risk tolerance questionnaires. All of this presumes that analysts and strategists possess…

Any long-term goal must be based on a solid premise. For True Wealth Management, the goal is for investors to live the one life they have with confidence. Its premise is a seemingly obvious metaphysical fact — the only thing that can go out of existence is that which lives…

The Law of Causality is the Law of Identity in action. If an investor’s primary investment objective is to live the one life they have with confidence, investment success or failure must be measured by looking into the future, not back into the past. The corollary to this is the…

In the Nature of True Wealth Management essay, we identified three of its attributes: Living Our Lives with Confidence, Dollars of Future Wealth, and Avoiding Unnecessary Risk. Before discussing the latter, it helps to identify some different kinds of risk. Nearly every traditional investment forecast is a combination these: interest…

This series was launched in November 2018 by recognizing our first Poetic Justice Warrior, the classical economist who coined the term ‘entrepreneur.’ Of course, that was Jean-Baptiste Say, the father of Say’s Law of Markets as published in his 1821 A Treatise on Political Economy. …