Personal Finance for Engineers (Stanford Society of Women Engineers / SWE, 2016)Adam Nash
This is the version of my talk, Personal Finance for Engineers, given at Stanford on April 26, 2016. It was hosted by the Stanford Society of Women Engineers and the Stanford Society of Latino Engineers.
Personal Finance for Engineers (Stanford CS 198, Nov 2015)Adam Nash
This is the version of my talk, Personal Finance for Engineers, that I gave at Stanford University on November 2, 2015 for the CS 198 Section Leader program.
Personal Finance for Engineers (Stanford Society of Women Engineers / SWE, 2016)Adam Nash
This is the version of my talk, Personal Finance for Engineers, given at Stanford on April 26, 2016. It was hosted by the Stanford Society of Women Engineers and the Stanford Society of Latino Engineers.
Personal Finance for Engineers (Stanford CS 198, Nov 2015)Adam Nash
This is the version of my talk, Personal Finance for Engineers, that I gave at Stanford University on November 2, 2015 for the CS 198 Section Leader program.
Personal Finance for Engineers (Stanford Computer Forum, Apr 2017)Adam Nash
This is the version of my talk, Personal Finance for Engineers, given at the Gates Computer Science Building at Stanford for the Stanford Computer Forum.
Personal Finance for Engineers (Github 2014)Adam Nash
This is the version of Personal Finance for Engineers given at the Github HQ in San Francisco on Feb 20, 2014. This version is made extra awesome by the appearance of octocat.
Personal Finance for Engineers (AirBnB 2013)Adam Nash
This is the version of Personal Finance for Engineers given on November 19 at AirBnB headquarters in San Francisco. It is largely the same content as the version for Twitter.
Personal Finance for Engineers (Stanford CS Forum, 2018)Adam Nash
This is the version of my talk, Personal Finance for Engineers, that I gave at Stanford University in the Gates Computer Science building for the Stanford CS Forum on February 8, 2018.
This is the version of my talk, Be a Great Product Leader, given at Zynga on Feb 22, 2016. It includes six lessons on product leadership from my time at eBay & LinkedIn.
Personal Finance for Engineers (Stanford Computer Forum, Apr 2017)Adam Nash
This is the version of my talk, Personal Finance for Engineers, given at the Gates Computer Science Building at Stanford for the Stanford Computer Forum.
Personal Finance for Engineers (Github 2014)Adam Nash
This is the version of Personal Finance for Engineers given at the Github HQ in San Francisco on Feb 20, 2014. This version is made extra awesome by the appearance of octocat.
Personal Finance for Engineers (AirBnB 2013)Adam Nash
This is the version of Personal Finance for Engineers given on November 19 at AirBnB headquarters in San Francisco. It is largely the same content as the version for Twitter.
Personal Finance for Engineers (Stanford CS Forum, 2018)Adam Nash
This is the version of my talk, Personal Finance for Engineers, that I gave at Stanford University in the Gates Computer Science building for the Stanford CS Forum on February 8, 2018.
This is the version of my talk, Be a Great Product Leader, given at Zynga on Feb 22, 2016. It includes six lessons on product leadership from my time at eBay & LinkedIn.
In this update of his past presentations on Mobile Eating the World -- delivered most recently at The Guardian's Changing Media Summit -- a16z’s Benedict Evans takes us through how technology is universal through mobile. How mobile is not a subset of the internet anymore. And how mobile (and accompanying trends of cloud and AI) is also driving new productivity tools.
In fact, mobile -- which encompasses everything from drones to cars -- is everything.
Tails Linux Operating System: The Amnesiac Incognito System in Times of High ...Maurice Dawson
After the information released by Edward Snowden, the world realized about the security risks of high surveillance from governments to citizens or among governments, and how it can affect the freedom, democracy and/or peace. Research has been carried out for the creation of the necessary tools for the countermeasures to all this surveillance. One of the more powerful tools is the Tails system as a complement of The Onion Router (TOR). Even though there are limitations and flaws, the progress has been significant and we are moving in the right direction.
Unlocking the formula for a high performance digital product team, London Jul...Wilson Fletcher
In July 2015, we hosted a lively evening event to tackle an increasingly pressing issue: how should businesses be building and maintaining successful digital product capability?
The evening brought together digital leaders from across various sectors who discussed some of the key issues.
Here's Founder Mark Wilson and Lead Service Designer Katie Buchanan's presentation where they shared their experiences of making digital teams better.
Thank you to everyone who joined us for a thought-provoking and enjoyable evening.
For details of our upcoming events, visit our blog http://www.thehumanlayer.com
SVPMA Dec 2014 Event
“Shifting to an Experimental Mindset: The Dos and Don’ts of Hypothesis Testing” with Teresa Torres, Product Consultant & Coach, former CEO
http://svpma.org/2014/12/december-2014-event/
Personal Finance for Everyone (Stripe 2014)Adam Nash
This is the version of my talk, Personal Finance for Engineers, that I gave on February 20, 2014 at Stripe HQ in San Francisco. It has minor modifications to broaden the language for the whole company.
Personal Finance for Engineering (Pinterest, 2014)Adam Nash
This is the version of Personal Finance for Engineers, covering behavioral finance, liquidity, savings, compounding, and long term investing. It was given at Pinterest HQ in San Francisco on Jan 23, 2014.
Stanford CS 007-01 (2020): Personal Finance for Engineers / IntroductionAdam Nash
These are the slides from the 1st session of the Stanford University class, CS 007 "Personal Finance for Engineers" given on September 15, 2020. This seminar covers a survey of the students enrolled in the course, with an overview of the topics to be covered over the course of the series.
Learning Objective: Examine the methods that minorities can use for achieving financial success
A growing minority population presents opportunities for financial success. Financial success is about changing your perspective on wealth, how you grow it, how you maintain it, and how you preserve it. It first starts with getting vested into helping change the trajectory of your future. Wealth transfer is happening. So what can be done to deliver financial education and financial planning to minorities? How do we position ourselves to be a part of it and benefit from it? This seminar will help you to understand the behavioral pitfalls we fall into as a community; the personal, social, and mental roadblocks to obtaining wealth; and how we are a part of that ride to investing.
At the end of this seminar, participants will be able to:
a. Recognize financial fundamentals to building wealth.
b. Identify the factors that lead to lower wealth accumulation among members of underrepresented groups.
c. Identify personal habits and values that can impact a strong financial future.
d. Create an action plan for achieving financial goals.
Stanford CS 007-05 (2021): Personal Finance for Engineers / Assets & Net WorthAdam Nash
These are the slides from the 5th session of the Stanford University class, CS 007 "Personal Finance for Engineers" taught on October 19, 2021. This seminar focuses on liquidity, emergency funds, assets & liabilities, and net worth.
Stanford CS 007-05 (2019): Personal Finance for Engineers / Assets & Net WorthAdam Nash
These are the slides from the 5th session of the Stanford University class, CS 007 "Personal Finance for Engineers" This seminar focuses on liquidity, emergency funds, assets & liabilities, and net worth.
Stanford CS 007-05 (2020): Personal Finance for Engineers / Assets & Net WorthAdam Nash
These are the slides from the 5th session of the Stanford University class, CS 007 "Personal Finance for Engineers" This seminar focuses on liquidity, emergency funds, assets & liabilities, and net worth.
Stanford CS 007-03 (2022): Personal Finance for Engineers / CompensationAdam Nash
These are the slides from the 3rd session of the Stanford University class, CS 007 "Personal Finance for Engineers" given on October 11, 2022. This seminar covers compensation, equity & comparing offers.
Stanford CS 007-02 (2022): Personal Finance for Engineers / Behavioral FinanceAdam Nash
These are the slides from the 2nd session of the Stanford University class, CS 007 "Personal Finance for Engineers," given on October 4, 2022. This seminar covers the topic of Behavioral Finance.
Stanford CS 007-01 (2022): Personal Finance for Engineers / IntroductionAdam Nash
These are the slides from the 1st session of the Stanford University class, CS 007 "Personal Finance for Engineers" given on September 27, 2022. This seminar covers a survey of the students enrolled in the course, with an overview of the topics to be covered over the course of the series.
Stanford CS 007-10 (2021): Personal Finance for Engineers / Additional Topics...Adam Nash
These are the slides from the 10th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered on December 7, 2021. This seminar covers student requested additional topics for the course, including bitcoin / cryptocurrency, derivatives, futures, options, private equity & venture capital.
Stanford CS 007-09 (2021): Personal Finance for Engineers / Real EstateAdam Nash
These are the slides from the 9th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered on November 30, 2021. This seminar covers real estate and related financial decisions: buying, renting, rent vs. buy, real estate investment, rental properties & tax advantages.
Stanford CS 007-08 (2021): Personal Finance for Engineers / Financial Plannin...Adam Nash
These are the slides from the 8th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered on November 16, 2021. This seminar covers financial planning, financial goals, couples & life insurance.
Stanford CS 007-07 (2021): Personal Finance for Engineers / InvestingAdam Nash
These are the slides from the 7th session of the Stanford University class, CS 007 "Personal Finance for Engineers" given on November 9, 2021. This seminar covers compounding, types of investments, diversification, how to invest, and the four keys to good investing (all boring).
Stanford CS 007-06 (2021): Personal Finance for Engineers / DebtAdam Nash
These are the slides from the 6th session of the Stanford University class, CS 007 "Personal Finance for Engineers" on October 26, 2021. This seminar focuses on compounding, mortgages, auto loans, student loans, credit cards and credit scores.
Stanford CS 007-04 (2021): Personal Finance for Engineers / Savings & BudgetsAdam Nash
These are the slides from the 4th session of the Stanford University class, CS 007 "Personal Finance for Engineers" given on October 12, 2021. This seminar covers savings rates, income & expenses & budgeting.
Stanford CS 007-2 (2021): Personal Finance for Engineers / Behavioral FinanceAdam Nash
These are the slides from the 2nd session of the Stanford University class, CS 007 "Personal Finance for Engineers," given on September 28, 2021. This seminar covers the topic of Behavioral Finance.
Stanford CS 007-01 (2021): Personal Finance for Engineers / IntroductionAdam Nash
These are the slides from the 1st session of the Stanford University class, CS 007 "Personal Finance for Engineers" given on September 21, 2021. This seminar covers a survey of the students enrolled in the course, with an overview of the topics to be covered over the course of the series.
Stanford CS 007-10 (2020): Personal Finance for Engineers / Additional Topics...Adam Nash
These are the slides from the 10th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered in November 2020. This seminar covers student requested additional topics for the course, including bitcoin / cryptocurrency, derivatives, futures, options, private equity & venture capital.
Stanford CS 007-09 (2020): Personal Finance for Engineers / Real EstateAdam Nash
These are the slides from the 9th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered in November 2020. This seminar covers real estate and related financial decisions: buying, renting, rent vs. buy, real estate investment, rental properties & tax advantages.
Stanford CS 007-08 (2020): Personal Finance for Engineers / Financial Plannin...Adam Nash
These are the slides from the 8th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered on November 3, 2020. This seminar covers financial planning, financial goals, couples & life insurance.
Stanford CS 007-07 (2020): Personal Finance for Engineers / InvestingAdam Nash
These are the slides from the 7th session of the Stanford University class, CS 007 "Personal Finance for Engineers" given on October 27, 2020. This seminar covers compounding, types of investments, diversification, how to invest, and the four keys to good investing (all boring).
Stanford CS 007-06 (2020): Personal Finance for Engineers / DebtAdam Nash
These are the slides from the 6th session of the Stanford University class, CS 007 "Personal Finance for Engineers" This seminar focuses on compounding, mortgages, auto loans, student loans, credit cards and credit scores.
Stanford CS 007-2 (2020): Personal Finance for Engineers / Behavioral FinanceAdam Nash
These are the slides from the 2nd session of the Stanford University class, CS 007 "Personal Finance for Engineers," given on September 22, 2020. This seminar covers the topic of Behavioral Finance.
Stanford CS 007-10 (2019): Personal Finance for Engineers / Additional TopicsAdam Nash
These are the slides from the 10th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered in December 2019. This seminar covers student requested additional topics for the course, including bitcoin / cryptocurrency, derivatives, futures, options, private equity & venture capital.
Stanford CS 007-09 (2019): Personal Finance for Engineers / Real EstateAdam Nash
These are the slides from the 9th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered in November 2019. This seminar covers real estate and related financial decisions: buying, renting, rent vs. buy, real estate investment, rental properties & tax advantages.
Stanford CS 007-08 (2019): Personal Finance for Engineers / Financial Plannin...Adam Nash
These are the slides from the 8th session of the Stanford University class, CS 007 "Personal Finance for Engineers" offered in November 2019. This seminar covers financial planning, financial goals, couples & life insurance.
TECHNICAL TRAINING MANUAL GENERAL FAMILIARIZATION COURSEDuvanRamosGarzon1
AIRCRAFT GENERAL
The Single Aisle is the most advanced family aircraft in service today, with fly-by-wire flight controls.
The A318, A319, A320 and A321 are twin-engine subsonic medium range aircraft.
The family offers a choice of engines
Vaccine management system project report documentation..pdfKamal Acharya
The Division of Vaccine and Immunization is facing increasing difficulty monitoring vaccines and other commodities distribution once they have been distributed from the national stores. With the introduction of new vaccines, more challenges have been anticipated with this additions posing serious threat to the already over strained vaccine supply chain system in Kenya.
Sachpazis:Terzaghi Bearing Capacity Estimation in simple terms with Calculati...Dr.Costas Sachpazis
Terzaghi's soil bearing capacity theory, developed by Karl Terzaghi, is a fundamental principle in geotechnical engineering used to determine the bearing capacity of shallow foundations. This theory provides a method to calculate the ultimate bearing capacity of soil, which is the maximum load per unit area that the soil can support without undergoing shear failure. The Calculation HTML Code included.
Overview of the fundamental roles in Hydropower generation and the components involved in wider Electrical Engineering.
This paper presents the design and construction of hydroelectric dams from the hydrologist’s survey of the valley before construction, all aspects and involved disciplines, fluid dynamics, structural engineering, generation and mains frequency regulation to the very transmission of power through the network in the United Kingdom.
Author: Robbie Edward Sayers
Collaborators and co editors: Charlie Sims and Connor Healey.
(C) 2024 Robbie E. Sayers
Final project report on grocery store management system..pdfKamal Acharya
In today’s fast-changing business environment, it’s extremely important to be able to respond to client needs in the most effective and timely manner. If your customers wish to see your business online and have instant access to your products or services.
Online Grocery Store is an e-commerce website, which retails various grocery products. This project allows viewing various products available enables registered users to purchase desired products instantly using Paytm, UPI payment processor (Instant Pay) and also can place order by using Cash on Delivery (Pay Later) option. This project provides an easy access to Administrators and Managers to view orders placed using Pay Later and Instant Pay options.
In order to develop an e-commerce website, a number of Technologies must be studied and understood. These include multi-tiered architecture, server and client-side scripting techniques, implementation technologies, programming language (such as PHP, HTML, CSS, JavaScript) and MySQL relational databases. This is a project with the objective to develop a basic website where a consumer is provided with a shopping cart website and also to know about the technologies used to develop such a website.
This document will discuss each of the underlying technologies to create and implement an e- commerce website.
Democratizing Fuzzing at Scale by Abhishek Aryaabh.arya
Presented at NUS: Fuzzing and Software Security Summer School 2024
This keynote talks about the democratization of fuzzing at scale, highlighting the collaboration between open source communities, academia, and industry to advance the field of fuzzing. It delves into the history of fuzzing, the development of scalable fuzzing platforms, and the empowerment of community-driven research. The talk will further discuss recent advancements leveraging AI/ML and offer insights into the future evolution of the fuzzing landscape.
Automobile Management System Project Report.pdfKamal Acharya
The proposed project is developed to manage the automobile in the automobile dealer company. The main module in this project is login, automobile management, customer management, sales, complaints and reports. The first module is the login. The automobile showroom owner should login to the project for usage. The username and password are verified and if it is correct, next form opens. If the username and password are not correct, it shows the error message.
When a customer search for a automobile, if the automobile is available, they will be taken to a page that shows the details of the automobile including automobile name, automobile ID, quantity, price etc. “Automobile Management System” is useful for maintaining automobiles, customers effectively and hence helps for establishing good relation between customer and automobile organization. It contains various customized modules for effectively maintaining automobiles and stock information accurately and safely.
When the automobile is sold to the customer, stock will be reduced automatically. When a new purchase is made, stock will be increased automatically. While selecting automobiles for sale, the proposed software will automatically check for total number of available stock of that particular item, if the total stock of that particular item is less than 5, software will notify the user to purchase the particular item.
Also when the user tries to sale items which are not in stock, the system will prompt the user that the stock is not enough. Customers of this system can search for a automobile; can purchase a automobile easily by selecting fast. On the other hand the stock of automobiles can be maintained perfectly by the automobile shop manager overcoming the drawbacks of existing system.
Welcome to WIPAC Monthly the magazine brought to you by the LinkedIn Group Water Industry Process Automation & Control.
In this month's edition, along with this month's industry news to celebrate the 13 years since the group was created we have articles including
A case study of the used of Advanced Process Control at the Wastewater Treatment works at Lleida in Spain
A look back on an article on smart wastewater networks in order to see how the industry has measured up in the interim around the adoption of Digital Transformation in the Water Industry.
Saudi Arabia stands as a titan in the global energy landscape, renowned for its abundant oil and gas resources. It's the largest exporter of petroleum and holds some of the world's most significant reserves. Let's delve into the top 10 oil and gas projects shaping Saudi Arabia's energy future in 2024.
CFD Simulation of By-pass Flow in a HRSG module by R&R Consult.pptxR&R Consult
CFD analysis is incredibly effective at solving mysteries and improving the performance of complex systems!
Here's a great example: At a large natural gas-fired power plant, where they use waste heat to generate steam and energy, they were puzzled that their boiler wasn't producing as much steam as expected.
R&R and Tetra Engineering Group Inc. were asked to solve the issue with reduced steam production.
An inspection had shown that a significant amount of hot flue gas was bypassing the boiler tubes, where the heat was supposed to be transferred.
R&R Consult conducted a CFD analysis, which revealed that 6.3% of the flue gas was bypassing the boiler tubes without transferring heat. The analysis also showed that the flue gas was instead being directed along the sides of the boiler and between the modules that were supposed to capture the heat. This was the cause of the reduced performance.
Based on our results, Tetra Engineering installed covering plates to reduce the bypass flow. This improved the boiler's performance and increased electricity production.
It is always satisfying when we can help solve complex challenges like this. Do your systems also need a check-up or optimization? Give us a call!
Work done in cooperation with James Malloy and David Moelling from Tetra Engineering.
More examples of our work https://www.r-r-consult.dk/en/cases-en/
Courier management system project report.pdfKamal Acharya
It is now-a-days very important for the people to send or receive articles like imported furniture, electronic items, gifts, business goods and the like. People depend vastly on different transport systems which mostly use the manual way of receiving and delivering the articles. There is no way to track the articles till they are received and there is no way to let the customer know what happened in transit, once he booked some articles. In such a situation, we need a system which completely computerizes the cargo activities including time to time tracking of the articles sent. This need is fulfilled by Courier Management System software which is online software for the cargo management people that enables them to receive the goods from a source and send them to a required destination and track their status from time to time.
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Caveats & Preface
• I am not a financial planner
• This presentation is not financial advice
• You would be extremely foolish to make investment
decisions based solely on the content of this
presentation or discussion
• The opinions in this deck are intended purely to provoke
discussion & further education
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Why Personal Finance?
• Poorly covered in traditional education, even
top tier universities
• Not technically difficult, but signal:noise ratio
is terrible
• Massive impact on your life
- Money is one of the top 3 reasons
for marital problems
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Fast Five Finance Basics
1. Behavioral Finance Basics
2. Liquidity is Undervalued
3. Cash Flow Matters
4. The Magic of Compounding
5. Good Investing is Boring
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5. How many of you think
you are rational with
your money?
(show of hands)
6. You are NOT rational
ANCHORING MENTAL ACCOUNTING CONFIRMATION &
HINDSIGHT BIAS
GAMBLER’S FALLACY
OVERCONFIDENCEHERD BEHAVIOR OVERREACTION &
AVAILABILITY BIAS
LOSS AVERSION
(PROSPECT THEORY)
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Anchoring
• People estimate answers to new /
novel problems with a bias towards
reference points
• Example: 1974 Study
• Most common examples:
• Price you bought a stock at
• High point for a stock
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Mental Accounting
• Money is fungible, but people put it
in separate “mental accounts”
• Lost movie tickets example
• “Found Money” problem
• Vacation fund & credit card debt
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Confirmation & Hindsight Bias
• We selectively seek information
that support pre-existing
theories, and ignore / dispute
information that disproves them.
• We overestimate our ability to
predict the future based on the
“obviousness” of the past.
(example: real estate)
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Gambler’s Fallacy
• We see patterns in independent,
random chains of events
• We believe that, based on series
of previous events, an outcome is
more likely than odds actually
suggest
• Coin flip example
• It’s because with human behavior,
there are no “independent” events
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Herd Behavior
• We have a tendency to mimic the
actions of the larger group
• Crowd psychology is a major
contributor to bubbles (believed)
• Easier to be “wrong with everyone”
than “right and alone”
• No one gets fired for buying IBM?
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Overconfidence
• In one study, 74% of investment
managers believe they deliver
above average returns.
• Positively correlated with High IQ...
• Learn humility early
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Overreaction & Availability Bias
• Overreact to recent events
• Overweight recent trends
• Studies demonstrate that checking
stock prices daily leads to more
trading and worse results on
average
• Worse in high tech, because we
are immersed in “game changers”
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14. Choice B:
You have a 100% chance of gaining $500.
You have $1,000 and you must
pick one of the following choices:
Choice A:
You have a 50% chance of gaining $1,000,
and a 50% chance of gaining $0.
15. Choice B:
You have a 100% chance of losing $500.
Now, you have $2,000 and you must
pick one of the following choices:
Choice A:
You have a 50% chance of losing $1,000,
and a 50% chance of losing $0.
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Loss Aversion (aka Prospect Theory)
• We hate losses more than we love
winning
• Average loss aversion is 3:1 (!)
• Affects views on wide range of
situations, including taxes, holding
on to losing stocks, “sunk cost”
mistakes
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It’s OK to Not Be Rational
• The key is that humans are predictably irrational
• Know your own flaws, and you can set up systems to
account for them
• Self-awareness is key
(yes, my Mom is a psychologist...)
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Liquidity
• Almost universally undervalued
• Strictly defined - it’s the
quantification of how much money
you can get, and how fast.
• Liquidity is the power to take
advantage of great investment
opportunities
• Liquidity is also, in the end, the
only thing that matters when you
need to pay for something.
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Liquidity & Returns
• In almost all cases, liquidity is inversely
correlated with returns
• Examples:
- Cash = very liquid
- Private equity = very illiquid
• Common mistake: Safety != Liquidity
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Practical Outcome: Emergency Funds
• Standard recommendation is that you
have 3-6 months of living expenses in
cash / cash-equivalents.
• That number increases if you are in
highly volatile industry / career.
• Worth considering length of time for
potential job search.
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Cash Flow
• The ultimate secret to personal finance is
quite simple:
- Spend less than you make
(on an ongoing basis)
• Very easy to measure, but few people do.
Annual budget is a great idea.
• Don’t forget to model in annual expenses
& “personal spending”
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Savings Targets
• What’s the right number? 3%? 6%?10%? 20%?
- There is no question - the more you save, the more
secure you are. Income comes & goes, but expenses
/ lifestyle are sticky!
• A lot of models assume working 40 years, and
producing savings to generate 80% of working
income.
- These models don’t actually match anyone’s real
world experience.
- There are a lot of models out there, and rules of
thumb, but it’s important to run the numbers yourself.
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The Magic of Compounding
• Not convinced that Albert Einstein said it was the
greatest force in the universe.
• It’s the key to almost all long term financial planning.
• Exponentials are bad in algorithmic cost, good in
savings returns.
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Simple Model
• Rule of 72
• In Excel, for each year, just use
=POWER(1+rate, year)
• 4% over 20 years is 2.19x
• 8% over 20 years is 4.66x
• Careful: it works on debt just as well as savings...
in reverse!
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The Benefits of An Early Start
• Compounding really takes off over long time periods
Years Return at 8%
10 2.16x
20 4.66x
30 10.06x
40 21.72x
50 46.9x
In most retirement planning
models, money saved between
ages 25 - 35 produces more
money than all savings between
35 - 65!
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The Dangers of Debt
• Bankruptcy is literally when you can’t pay your debts.
You can’t go bankrupt if you don’t have debt.
• You will never find an investment that pays 8%
guaranteed, let alone 20%+
• You will find *tons* of credit offers out there that will
charge you that.
• “Bad” debt is toxic, your best return is to pay it off.
But emergency fund takes precedence.
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Good Investing is Boring
• No one wants to be average, but with investing,
average is actually well above average.
• You will beat most mutual funds, and a large majority of
your peers with simple, low-cost index funds.
• Asset allocation explains ~90% of the variance between
fund performance
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Basic Asset Allocation
• Different types of assets (stocks, bonds, etc) have
different volatility & return characteristics
• There is an efficient frontier of combinations that
can maximize return for a given volatility
• Complication: historical performance does not
predict future performance
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Simple Operating Model
• 2 hours of work per year.
• Pick an asset allocation that is appropriate for your
emotional character & time frame & goals.
• For each asset class, pick the cheapest index fund with
the lowest drift and best liquidity.
• Rebalance every year.
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Recommended Books
• WSJ Guide to Understanding Money & Investing
• The Millionaire Next Door
• A Random Walk Down Wall Street
• The Essays of Warren Buffett
• Common Stocks & Uncommon Profits
• The Intelligent Investor
• Devil Take the Hindmost
• When Genius Failed
• Against the Gods: The Remarkable Story of Risk
• http://blog.adamnash.com/2007/02/14/personal-finance-
education-series-2-recommended-books/
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Disclosure
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Text
Nothing in this presentation should be construed as a solicitation
or offer, or recommendation, to buy or sell any security. Financial
advisory services are only provided to investors who become
Wealthfront clients pursuant to a written agreement, which
investors are urged to read and carefully consider in determining
whether such agreement is suitable for their individual facts and
circumstances. Past performance is no guarantee of future
results, and any hypothetical returns, expected returns, or
probability projections may not reflect actual future
performance. Investors should review Wealthfront’s website for
additional information about advisory services.