Monk Says… “Learn the Game”
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Monk Says… Market timing is like jumping double dutch
Just like jumping in double dutch, there is a rhythm & a timing to investing. The current market meltdown is painful. I am not saying that flippantly. There are real world consequences to your finances because of the actions of others. This may be of little consolation, but on average there is an economic/market pullback…
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Monk Says… Assets/Liabilities
An asset is anything that produces or increases in value: inventory, intellectual property (IP), cash, or investment instruments just to name a few. A liability put simply, is anything you owe: mortgages, rent, loan payments on equipment. The gentlemen at Earn Your Leisure had a masterful campaign to illustrate which is more desirable – assets…
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Monk Says… Inflation: what is it & why are The Fed’s always fighting it?
Inflation is when the price of things you normally buy go up over time. So, the end result is that it will cost you more money to buy the same thing today than it did in the past. Here’s an odd illustration: I attended the Fresh Fest concert in 1985. The price of the ticket…
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Monk Says…What’s in a name: The S&P 500
What is the S&P 500 and why do you hear about it every morning as you’re rushing to get out the door? By definition it’s an index that tracks the 500 largest stocks. In lay terms, it’s used to gauge the market temperature. Is the market hot (going up) or is the market cooling (going…
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Monk Says…What I learned from winning the lottery
First, let me be clear, I have never won more than $20 from the lottery. That’s $20 over my entire lifetime. But as a wise person once said, learn from other people’s mistakes because you won’t live long enough to make them all yourself. The lottery winner who was my guide was a man named…
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Monk Says…NIL, AAU, 8U, High School, NCAA, NBA, and NFL coaches, it’s not your fault
You are about to learn one of the strangest sports facts ever… One of my nephews makes more money from Nike than 80% of all athletes. Pause for a moment, and I’ll say it again: since his 1st birthday, one of my nephews has been making more money from Nike than 80% of all professional…
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Monk Says…Sometimes it just comes down to timing
Timing, or what some call luck, is when opportunity meets preparation. When Lynell Bevels shared that Umpqua Bank was assisting home ownership with the assistance of Richmond Neighborhood Housing Service, I couldn’t believe my eyes. I am very familiar with the agency and how they put people in homes because I went through their workshop…
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Monk Says… Think, Act, Get
If you THINK differently, you will act different. If you Act differently, you will Get different results. Dame Dash, one third of the Roc-A- Fella Records founders triad (Dame Dash, Jay-Z, Kareem Burke) famously spoke about how hip hop artists go broke. Dame called it the hip hop starter kit. Dame outlined how a…
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Monk Says… Investment took a Loss? Pivot, don’t quit
Bouncing back from a loss is THE hardest lesson to learn in financial literacy (even though losses are inevitable). It is going to happen. But what you do after that loss will define how high you will ever go. Kareem Abdul-Jabbar was the most dominant player in college basketball at one time. At 7’2” he…
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Monk Says… It all starts with your WHY (your goal)
The 1st step on your investment journey begins with your why. If you don’t know where you’re going, how do you know when you’ve arrived? Your why is just that, YOUR why. It doesn’t matter if your WHY is to fund your retirement, send a child to college, or to pay for your next vacation.…
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Monk Says… Start the year with a Financial Checkup
Start the new year with a different approach. We usually start the new year with resolutions (that fall by the wayside in less than 30 days). How about starting the new year picking low hanging fruit? Start by checking in with your financial advisor. Check on the progress of your 401(k) (IRA or Keogh) and…
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Monk Says…There is a time for Reflection
Something that was taught to me by a broker friend of mine: look back on your investments and decide whether your position achieved the goal of the purchase or not. We as humans look back at the year and decide if it was a good year or not – which is why we make New…
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Monk Says…The Greatest Gift From Grandparents, Uncles, and Aunties
The holiday season is now upon us. Gifts will be bought and gifts will be given. Michael Jackson sang that you must give love on Christmas Day and there is no greater gift than love. So, the 2nd greatest gift is the gift of ownership. Can you name what you gave or received 3 Christmas’…
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Monk Says…Generational Wealth: Why most people will never achieve it
This post on generational wealth is based on a chapter in my upcoming book on financial literacy Dr Boyce Watkins’ verbal imagery summarizes it like this, “generational wealth is a relay race”. The Proverbs say that a wise person leaves an inheritance to their children’s children. First, if you’ve survived tech layoffs, automation, and globalization…
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Monk Says…Emotions and Your Investments: Love
(or, How I was blinded by Love) Part 3 of 3 It is said that love is blind, but to quote The Teacher, KRS-1 from Boogie Down Production, “Love’s gonna get cha’. You see, I loved the Fisker Karma story so much that I didn’t get out of my position in Quantum Technologies when I…
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Monk Says…Emotions and your investments: Hate
(or, Why I never bought Tesla) Part 2 of 3 Most people think that Godfather III is the worst movie of the Godfather trilogy. I don’t know about that, but in The Godfather III Micheal Corleon told his nephew, “you should never hate your enemy, it clouds your judgment”. This was a lesson I had…
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Monk Says…Administration Change
Administration change = new opportunities (or, How Obama doubled my money) Part 1 of 3 Whenever there is an administration change due to a newly elected President in the U.S., it also opens up opportunities as an investor. The biggest employer in the United States, is the United States. So, it stands to reason that…
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Monk Says…Lesson Learned: Price vs Value
As we take this day to acknowledge the sacrifices that military veterans have made and continue to make, I can’t help but reflect on the lessons I learned while being in the military-both in the field and in the markets. I graduated high school with the goal of going to college. But after growing up…
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Monk Says…Did you know:You can bet for or against Donald Trump in the stock market?
Truth social is traded on the NASDAQ stock exchange under the symbol: DJT No matter who you decide to vote for, you should exercise your right to vote. But, while the entire planet will be watching to see the fate of the USA & Donald J. Trump, those in the know will also be watching…