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Assiduously
Definition- With great care and perseverance

Part of Speech- Adverb

"And the older you are, the more assiduously you have to work on it." (123)

The student studied assiduously in order to be prepared for his final exam

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Early in 2000, I actually met an advisor who was being sued by a client whose diversified portfolio had returned 29% in the bubble year 1999" (177)

I recognize that this passage is not very related to the big picture, but I could not help but laugh at this story.

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"In the long run, a bear market is just a Big Sale anyway. It is irrational in the extreme for someone who is not finished buying yet to want the market to go up" (135)

This is a very bold and counterculture thought. Yet, throughout the book, he maintains that it is revolutionary thoughts that make people wealthy, for if it was easy, everyone would be rich. In this case, he calls a bear market a good event that we all should hope for. Almost every investor wishes for bull markets and fears bears. But here, Murray is calling bears a wonderful buying opportunity. It is a bold statement, but after further explanation, he proves his point.

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"The single most important variable in the quest for equity investment success is also the only variable you ultimately control: your own behavior" (120)

The chapter and book as a whole is about investing in stocks, what to do, what not to do. Almost as if it is a guide or manifesto of investment advice. But one thing that he did not forget to include was that it is up to you to do your part. If your behavior is not there, then you're not going to get the results you were expecting. I also thought it was good to include this as a reminder that the book is not a guarantee. Sort of like getting rid of any liabilities.

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Stoicism
Definition- The endurance of pain or hardship without a display of feelings and without complaint
Part of Speech- Noun

"Are you willing to wager your family's lifetime investment success that your stoicism is that fireproof?" Pg 80

After failing the test, the student's stoicism allowed him to finish the day with a smile.

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"The stock market crash of October 19, 1987-when he only 'lost' $347,000,000! Except he didn't lose anything that day either... Berkshire Hathaway closed on October 19, 1987 at $3,170 a share. On August 31, 1998, it closed at $60,500" (76)

The book is about long term investing, but the author can only reason so much and say so much to the reader. But without any evidence, how can we believe him? While he does support his claims with historical evidence, I thought this one was especially important because it references Warren Buffet, a very well known investor. In this scenario, it shows how one of the best investors in the world adheres to the same advice that the author is trying to give the reader. I think that the evidence will stick with the reader more since he has a sort of automatic ethos to him (Buffet).

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Euphoria
Definition- A feeling or state of intense excitement and happiness
Part of Speech- Noun

"And heaven knows, the psychology of the investing public changes-cycling from the most blissed-out euphoria about equities" Pg 4

The euphoria in the student came after he was declared class president.

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Nominal
Definition- Expressed in terms of a certain amount, without making allowance for changes in real value over time
Part of Speech- Adjective

"You see, nominal returns are just the absolute percentage returns you got paid, in a vacuum" Pg 52

A countries nominal GDP is not an accurate representation of their economic output because it does not account for inflation.

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"'Certainty' is not a condition that exists in nature. Reasonable probability, based on an examination of historical bond/stock relationships, is all we have, and it will therefore have to do." Pg 48

Again a side track from the central argument, he acknowledges the fact that his strategy is not a guarantee, because nothing is. And I think it is important that he let the reader know this, not only about his strategy, but about investing in general. No matter what, you cannot predict the future of a stock, but rather make a reasonable guess. Once the reader understands this, they understand a lot more about the market and that this book is not a surefire way to make money.

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"Think of it, dear reader: one can buy nothing but top-rated funds, and yet lose significant amounts of money, if one's own behavior is sufficiently inappropriate." Pg 22

While it is a side track from the main claim of the book, this has important value. He mentions this before he actually gets into the main argument of the book, which I find is important. It lays a solid foundation for the rest of the book to build upon. Also, it makes logical sense; if you follow the advice given, but have poor principles, it will not work for you. And additionally, a long term strategy is based on the assumption that you have a good principle, so by introducing this at the beginning of the book, he clears up any confusion about his advice.

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Week 1 (1 - 60)
Week 2 (60 - 100)
Week 3 (100 - 193)

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Hello world, welcome to my blog. My name is Oscar, and I am currently reading the book called Simple Wealth, Inevitable Wealth. I love investing and learning about investing, so I thought it would be a great decision if I read about something that I am passionate about. The book has the central claim that investing in stocks is the easiest way to secure a good retirement. To support the claim, it explains long term strategies and why they are better. And that is why I choose the book, not for its retirement thesis, but for the explanation of long term investing.