I recently read an interesting article that included the memorable question: “What would’ve happened if you hadn’t given the brief for High Speed 2 to a load of engineering firms who immediately focused on speed, time, distance, and capacity?
Nice one! For me, 'financial happiness' lies in dividends, allowing me to focus on real returns from my portfolio instead of its volatile current value. I'm fully aware that this is a psychological thing and not rooted in financial mathematics, but it gives me peace of mind. When the markets dip, I can just buy more income. As J. D. Rockefeller famously said: ‘Do you know the only thing that gives me pleasure? It's to see my dividends coming in.’
Well, I think people want it, but the ineptitude of our government and engineers and the byzantine planning laws make it impossible to build anything. Hard to believe that in the 19th century Britain was the world’s leading engineering power.
Very important! For some customers of investment services, the "fun" part is a yearly invite for lunch to the in-house restaurant. Or even the board cantine, if you're high net worth. I once asked a nice old lady why she was paying around €50k for mediocre investment services and she replied, "but that pleasant young man has lunch with me in their wonderful place every year!" Good as gold, apparently.
For others, the fun part is the "income" flow. Ask somebody what's better, CAGR 10% in an unpredictable rhythm, or CAGR 6% regularly quarterly, and everybody choses the former. Until 14 months go by with zero gains, which is no fun at all, so then it's the latter for seven out of ten.
Anybody who has attempted to travel by bus in Britain's provincial towns will tell you that Mickey Mouse is already in charge of public transport.
(note to self: do not mention airport construction delays or budgets in Germany as it causes the people to become uncharacteristically agitated and emotional)
Nice one! For me, 'financial happiness' lies in dividends, allowing me to focus on real returns from my portfolio instead of its volatile current value. I'm fully aware that this is a psychological thing and not rooted in financial mathematics, but it gives me peace of mind. When the markets dip, I can just buy more income. As J. D. Rockefeller famously said: ‘Do you know the only thing that gives me pleasure? It's to see my dividends coming in.’
I met some Brits at a conference once and in conversation, I praised the idea of HS2: finally, Britain will modernise its rail infrastructure!
They looked at me like I had just arrived from Mars. It was like I had used a racial slur without realising it.
Here is my new theory: When the project has been this difficult, the delays this long and the cost overruns this big, maybe people just don't want it.
Well, I think people want it, but the ineptitude of our government and engineers and the byzantine planning laws make it impossible to build anything. Hard to believe that in the 19th century Britain was the world’s leading engineering power.
Very important! For some customers of investment services, the "fun" part is a yearly invite for lunch to the in-house restaurant. Or even the board cantine, if you're high net worth. I once asked a nice old lady why she was paying around €50k for mediocre investment services and she replied, "but that pleasant young man has lunch with me in their wonderful place every year!" Good as gold, apparently.
For others, the fun part is the "income" flow. Ask somebody what's better, CAGR 10% in an unpredictable rhythm, or CAGR 6% regularly quarterly, and everybody choses the former. Until 14 months go by with zero gains, which is no fun at all, so then it's the latter for seven out of ten.
Anybody who has attempted to travel by bus in Britain's provincial towns will tell you that Mickey Mouse is already in charge of public transport.
(note to self: do not mention airport construction delays or budgets in Germany as it causes the people to become uncharacteristically agitated and emotional)