Lester Golden
1 min readDec 9, 2021

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Sum it up with a few aphorisms:

You own stuff, stuff owns you.

The real purpose of money: it buys you freedom to tell idiots and big shots where to go (a Bogartism).

Align your appetites comfortably below your earning capacity.

Shortcut to alignment: geographic arbitrage; earn northern and western and spend eastern and southern (Mediterrenean). There less money buys more time.

Overhead management: My only car has two wheels--and it earns my calories.

Remove Malkiel and Kiyosaki from the book list. Malkiel is an apostle of the now discredited EMH (efficient market hypothesis), about which Buffett said "we've greatly benefited from a school of thought that told us not to think." (The Superinvestors of Graham and Doddsville, 1984)

Kiyosaki is a pseudo-libertarian apostle of useless Austrian economics. Hayek predicted a depression in the late 1940s while Keynes was the best investor of his generation: 12% CAR from 1921-46. Add Kahneman's Thinking, Fast and Slow by the psychologist who stole the economics Nobel from the economists in 2001, Nassim Taleb's The Black Swan and Ken Fisher's The Great Humiliator.

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Lester Golden
Lester Golden

Written by Lester Golden

From Latvia & Porto I write to share learning from an academic&business life in 8 languages in 5 countries & seeing fascism die in Portugal&Spain in1974 & 1976.

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