I Love Books!!

We talked recently about the power of being a contrarian. The idea is that you need to be able to break any theories you have in order to strengthen them.

You need to find the limits, you need to find the errors in your thinking. But, what if there was a way that you could find these errors, yet do it from the safety of your own home, with out risking life and limb?

Enter books!

Books are great things. They are densely packed little bricks of knowledge. You can travel to the moon, you can walk among the dinosaurs, you can fight in a war or run a country, all from the comfort of your couch or your bed, or beach towel. I mean think about how powerful that is!!

You can learn about and from the best minds in the world, simply by reading a book.

Synthesizing is Key

Now that we’ve talked about books, let’s talk about education and critical thinking.

Just because you can read a book, doesn’t mean that you should follow it blindly. Simply having something in writing does not make it relevant to you.

The true magic lies in gathering little tidbits of knowledge as you go. In gaining bits and pieces of a collective experience, then synthesizing that into something that’s applicable to you and your individual situation.

I mean look at this very blog. It’s a hot dumpster fire of black words on a white screen. We do our best to give you a glimpse into what we are thinking and what we have learned.

But, what exactly is this blog? It’s our story, and it’s our experiences. Some small part of this thing might help you connect or understand something that you read elsewhere and then cement that thought into your head and allow you to apply it to your own individual situation.

Is that a good book?

I always tend to take a book or two with us while we travel. Inevitably along the way, usually waiting in line to board the plane, or sitting next to someone. They will ask:

Is that a good book?

And I’ll usually answer this way:

If I can gather just one piece of knowledge from this book, it’s worth while.

Now, think about that, just one piece of knowledge. I’m not looking for anything life changing out of any one particular piece of paper.

But, when you take that one piece of knowledge, and rub it together with another and another and another, all the sudden you something that could be life changing.

It’s a compounding of knowledge, much like the compounding of interest or money that we all have grown to love.

Connecting the Dots is where the true magic happens. This is where you can take bits and pieces from everything you read and frame your own story and blaze your own path.

So, with that we present…

A Contest!!

As we continue to purge items from our place, we’ve come across a few books that we want to give a good home. (Check the image at the top, we are going to get rid of some of those as well.)

Mrs. Wow usually gives a copy of The Simple Path to Wealth to all her interns at the end of their internship. Just a gentle shove to help them on their way.

But, we have a few extra copies lying around, sooo… what great way to spread the knowledge than to give a way a great book.

So, here’s what we are going to do. Since JLCollins talks so much about how volatile the market is, and how you should play the long game with your investments, let’s have a little fun!

In the comments here, write your guess for the closing value of VTSAX (as of 5/21 it was 71.34) for 6/28, 7/15 & 7/31, but you have to have your guesses in and locked by 6/1. So, any comment dated after 6/1 will be ineligible.

One of these Could be YOURS!!!!

The winner will be the closest to the closing value on those dates (absolute value, no Price is Right stuff). And we’ll contact you and get your shipping address and send you a copy of the book!

Any other good books I should add to the stack on my nightstand?

20 Comments

  • Financially Fit Mom May 22, 2019 at 6:04 am

    I love everything about this post – sorry in advance for the lengthy comment, but when you write such amazing words about books, you are kinda asking for it…. 🙂 OK – I’ll stick with the 2 main things that made me want to jump up shout YES!
    1. “The idea is that you need to be able to break any theories you have in order to strengthen them.” I recently started researching the opposing view of any ideas I get rather than the supporting. I’ve always said you can find evidence to support ANY argument these days and I’ve found that researching my opposing view not only opens my mind more, but I learn so much and have much less bias if I still decide to try whatever it is out.
    2. “If I can gather just one piece of knowledge from this book, it’s worth while.” I’m currently reading “Every Tool is a Hammer” by Adam Savage. I found him to be a fascinating man when hearing him on the Tim Ferris Show so I naturally checked out his book. It’s a lot of his experiences in making things which after a short bit, I cannot relate. I’ve intentionally been trying to STOP reading a book if I’m not pulled into because there are just so many out there but last night, just as I started scanning rather than reading, it was just one sentence…and I wanted to jump up and down on the bed and point and scream YES! This is what I’m talking about! This is what we need! (I didn’t – my daughter may have called the police to take me away). But it was that one thing, and who knows if it will change my life, but it will make an impact for awhile.
    YAY BOOKS!

    Reply
    • Mr WoW May 22, 2019 at 6:29 am

      Yes, finding opposing view points to your own is a very important thing to do.

      When ever I’m looking to buy something, I never read good comments, I only read the bad ones. I don’t need to confirm that I want the thing.

      I will stop reading a book if I just can’t get interested in it. It is hard. But even then, there’s something about them that opens your mind to new ideas and ways of thinking about things. And if that’s what you get from them, well then… that’s what they are all about!

      Thanks for stopping by!!

      Reply
  • Life Outside The Maze May 22, 2019 at 6:46 am

    “Is that a good book?” I just got that question yesterday. A better question might be is that a great book? I agree that if it was worth the time reading it is good. A great book was also a joy to read and has enough that I will revisit it. I will give away a good book but probably not a great one. Also, since I love games my guess is: 70.85 on 6/28, 71.59 on 7/15 and 71.72 on 7/31. Shouldn’t the worst guesses get the book since they probably need it the most? haha

    Reply
  • 5am Joel May 22, 2019 at 6:55 am

    VTSAX guesses…

    6/28: $71.75
    7/15: $71.96
    7/31: $72.18

    Book for your nightstand = Anything You Want by Dereck Sivers

    Reply
  • Mrs Doodlepop May 22, 2019 at 9:16 am

    Ooo I love the way you are giving away the JL Collins books! Very creative!
    6/28: 70.50
    7/15: 72.44
    7/31: 69.34

    Reply
    • Mr WoW July 16, 2019 at 8:39 am

      Alright… Given that FERVENT FINANCE won the first book, you are winning the second one. Congrats!!!

      Shoot me an email with your address and I’ll get the book out shortly.

      Reply
  • Fervent Finance May 22, 2019 at 10:50 am

    6/28: 72.34
    7/15: 72.99
    7/31: 70.23

    Reply
    • Mr WoW June 28, 2019 at 7:12 pm

      So you won the first book… Go a head and email me your address and I’ll send it out… MrWow at WafflesonWednesday dot com.

      CONGRATS!!!!

      Reply
    • Mr WoW July 16, 2019 at 8:37 am

      So… Congrats!!! You won the Second Book as well. Apparently everyone was way less optimistic than you!!

      Price and yield
      Price as of 07/15/2019
      $74.75

      So I think we’ll go with the Second Place Person.

      Reply
  • Barret May 22, 2019 at 12:25 pm

    6/28: 71.52
    7/15: 70.55
    7/31: 72.28

    Reply
    • Mr WoW August 5, 2019 at 8:16 pm

      Ok you won the third book!!! Congrats!!

      with the closing price of $74.09 on 7/31.

      Hit me up with your address and I’ll send it out!

      Reply
  • Adam @ Brewing FIRE May 22, 2019 at 1:39 pm

    6/28: doesn’t matter
    7/15: doesn’t matter
    7/31: doesn’t matter

    10, 15, 20 years from now: much higher than today, and that’s all that does matter.

    Sorry for the smart-a$$ response!

    Also, I’m 19th in queue for my local library copy of Simple Path to Wealth, so this would help me out!

    Reply
  • Mrs. Groovy May 23, 2019 at 5:05 am

    I love that Mrs Wow gives copies of Simple Path to her interns! Way to go!

    No guesses here since we need to purge too.

    Reply
  • Randy May 28, 2019 at 9:18 am

    The only book that I ever finished and immediately started over was The New New Thing by Michael Lewis. I still think about things from it now.

    Predictions for VTSAX:
    6/28 – 69.98
    7/15 – 69.63
    8/1 – 69. 76

    Reply
  • Joe May 29, 2019 at 7:19 am

    I think giving out the book is a really great idea too.
    I’ve been hearing more about Annie Duke’s Thinking in Bets lately. I read it once, but I need to read it again to absorb it better.
    My guess, just for fun.
    6/28 – 71.34
    7/15 – 71.34
    7/31 – 71.34 🙂

    Reply
    • Mr WoW June 10, 2019 at 10:11 pm

      interesting strategy…

      Reply
  • Randy May 31, 2019 at 8:04 am

    My favorite book is The New New Thing by Michael Lewis. While the story is a little dated now, the themes are timeless.

    6/28 – 69.20
    7/15 – 68.85
    7/31 – 69.15

    Reply
    • Mr WoW June 10, 2019 at 10:11 pm

      alright you’re in… 20 more days to go

      Reply
    • Randy June 11, 2019 at 6:45 am

      I ended up with a double post and two different predictions. To be fair, I’ll take whichever one ends up furtherest away from accurate.

      Reply
  • MrWow June 28, 2019 at 6:57 pm

    Alright… “Price as of 06/28/2019 – $73.04”

    source:
    https://investor.vanguard.com/mutual-funds/profile/vtsax

    Reply

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