Saturday, January 12, 2019, Delray Beach, Florida


Notes From My Journal

The New Challenge I Give Myself Every Day

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I received a note from a former protégé who is using my personal productivity system (my “Goaltending Program”) to accomplish her very demanding schedule as editorial director of a growing publishing company.

I thanked her for the note, congratulated her on her success, and said, “You know, I’ve taught this system to dozens, showed it to thousands… yet you may be the only person besides me that is using it!”

Then I shared with her something that I’ve added to the Goaltending Program.

It’s a new challenge I give myself – four things I try to do in order to enjoy the satisfaction of an intellectually fulfilling day:

  1. Write something worth reading.*
  2. Do something worth writing about.*
  3. Read something worth recommending.
  4. Learn something worth teaching.

This is a quality-of-life challenge. There are no requirements in terms of “how much” or “how long.” For example, “Learn something worth teaching” might be how to adjust one’s side view mirrors so that there are no blind spots. And “Write something worth reading” might include this little journal entry that you are reading right now. (Of course, you are the judge of whether I’ve succeeded.)

*I got the first two from Ben Franklin.

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From My Work-in-Progress Basket, Notes From My Journal

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Notes From My Journal

Does the SEC Really Give a Crap About Small Investors?

Delray Beach, FL– “The private markets are awash in capital these days,” Jay Clayton, Chairman of the SEC, told entrepreneurs and business-school students in Nashville recently. “The question is, who is participating?”

For decades, regulators have walled off most private deals from smaller investors. Because of the added risk of private investing, they must meet stringent income and net-worth requirements to participate. As a result, small investors never had access to companies like Uber Technologies and Airbnb.

Mr. Clayton wants to change that.

“This is good news,” TM said in a memo to my partners. “And it would be no small potatoes as it would open a big line of biz. Early Seeds.”

TM was talking about the opportunity for businesses like ours, publishers of investment advice, to sell more newsletters and other advisory services focusing on this newly opened and quite exciting topic.

Here’s what I think: Yes, it will be good for financial publishers like us. And it will be great for financial advisors and brokers and all the guys with suits that live off Wall Street. But it will not be good for ordinary investors, particularly the elderly and vulnerable. This change will make the sum of them poorer. And I’m pretty sure Mr. Clayton knows that.

 

From My “Work-in-Progress” Basket

A Serious Answer to a Dumb Question

 “What habit made the biggest difference in your life with the least effort?”

This is the sort of question you see on Quora – ultimately dumb but superficially interesting. I rarely open the links because I know the answers will likely be as silly as the questions.

That’s what happened when I saw this one.

But then I thought: If I am taking questions from an audience and someone asks this one, how would I answer it? I couldn’t dismiss it as a stupid. What would I say?

Hmmm… the audience is waiting. Clock is ticking…

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