Be fearful when others are greedy, and be greedy when others are fearful.

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Retirement savings may best real estate returns in Singapore (The Straits Times)

A great reminder that, unlike the myths that some evil people out there are spreading, real estate returns are cyclical and dependent on leverage.

In Private Markets, Red Is the New Black (Enterprising Investor)

A good commentary on the current state of markets. VC money is banking on these startups becoming monopolies. However, as the post notes:

Theory teaches that monopolies eventually deliver what economists call supernormal profit. Yet, this new genre of entrepreneurial venture takes an awfully long time to become profitable. Years after their VC backers have exited, today’s start-ups are often still heavily loss-making. It took 12 years for Twitter to generate a net income. A decade after launching, Uber incurred an $8.5-billion loss in 2019 — the year of its IPO.

Earn Money Reading Financial Statements (The Wealthy Accountant)

I suspect the ability to read and analyse financial statements will become much more important in the future with the increased use of software to trawl through reported financials.

And the ability to read and analyse financial statements comes from a strong foundation in understanding how accounting works.