“Make money while you sleep!” — That slogan became popular in the longest secular bull market in the US stock market, which ran from August 1982 to December 1999. During that 17-year timespan, stocks returned an inflation-adjusted return of 1,128%.
Isn’t that the dream? To get rich without working?
In Bull: A History of the Boom and Bust, 1982-2004, the financial journalist and author, Maggie Maher, observed that dream started during the 80s:
In 1942, the world was at war. In December of the previous year, the United States entered WWII when Japan attacked Pearl Harbor. By that time, the US got into a war that started in 1939. While Americans were quick to adjust back at home, […]
I’ve adopted the mental model of Charlie Munger when it comes to living a good life. It’s useful to gain insights into the thought process of certain rich people. Munger was trained as a lawyer, got briefly into real estate development, and built his fortune together […]
Consider two artists: MC Hammer and Chamillionaire. Most people know the former because he famously went broke in the 90s despite earning millions of dollars. It’s a good case of money fallacy that many people who earn well often ignore. MC Hammer made 37 million […]