The Tao of Wealth Management
The path to success in many areas of life is paved with continual hard work, intense activity, and a day-to-day focus on results. However, for many investors who adopt this approach to managing their wealth, that can be turned upside down.
The Chinese philosophy of Taoism has a phrase for this: “wei wu-wei.” In English, this translates as “do without doing.” It means that in some areas of life, such as investing, greater activity does not necessarily translate into better results.
Here is this week’s article from Dimensional’s Jim Parker: The Tao of Wealth Management
SAGE Serendipity: The Inspired Life column in The Washington Post looks at a Stanford/Yale study to be released on whether it’s beneficial to ‘find your passion’. “The idea of “finding” one’s passion implies that people have built-in interests just waiting to be discovered, and if you can simply figure out what they are you will magically be able to embrace them… focusing too narrowly on one kind of interest can cause people to miss developing knowledge in other areas that could help them succeed in their field.”