After a post a few months ago on “Timing the market,” Jonathan sent me a copy of his new book “Mindful Investing.” Mindful investing, to him, is:
1. Mindfully looking at what you really need to make you happy (both now and in the long term), then making an investment plan to match your needs.
2. Once you’ve done that, avoiding the noise.
He shares a key concept in Taoist philosophy – “wu-wei” or intentional non-actiohn. Doing without doing.
The key is to do the planning part – determine the amount of money you’ll need in the future, save, and invest/rebalance regularly in a simple diversified portfolio. Then free yourself from market timing and investment selection judgements.
Make a plan, then wu-wei.
It resonated.
