Book: The Determinants of Wealth

[PloutosNX]

Hello Jerome,

I am starting a new post to talk about your book.
 
I am currently reading your book and I am only on the first part, I have read up to "How to Pick Stocks". I really enjoyed the beginning of your book and I will have to go back to it to assimilate some concepts.
I liked the part about how to define the work rate and remuneration, as well as the part about savings and the optimal profitability that can be concluded from it.
I had never thought of using this approach to quantitatively define the goal of financial independence.
 
There is food for thought and above all a lot of questions that are jostling around in my head! Concerning the different approaches, portfolios and strategies, I have already read and studied different cases. I had also thought about using several methods, but then my thinking was that I would only replicate the market and the complexity would be a disadvantage. But a reminder does not hurt.
I had finally given myself the idea of being the market (stock, real estate, gold) and taking a position by following a strategy based on increasing dividends, or at least stocks with correct fundamentals.
There in your book you reinforce this idea by giving the tip of using what already exists as a type of portfolio.
I know I'm going to start over with a lot of questions to try to understand everything, but with your book you've given me a lot of food for thought and some points still seem obscure to me.
I think that since time, you know that my goal is not to copy, but to understand what is the latest thinking to make my own choices and be able to be independent for the purchase/sale of my positions. If I can benefit from knowledge, advice and wise experiences I take it with pleasure and respect. I hope to be able, perhaps, also one day to help and return the favor.
 
 
Here are some typos I saw in the book to start with.
 
Figure 21: Real Estate: AUCHAH, I think you meant to write SRFCHA?
Unemployment rate chapter: 3 ETF portfolio, Emerging countries: EEM and in the IEF text, I also think you wanted to write EEM.
 
If I see any more, I'll let you know if that's okay with you.
 
 
I sincerely hope that your book will have a significant impact, because I find it very informative. I will recommend it without hesitation (and perhaps seem less like an alien by showing that I am not alone). Your book may not be so easy to assimilate at first glance, but it is an excellent summary and offers avenues for reflection both with regard to work and market opportunities (in the broad sense, including everything).
 
I have a number of questions, but they will go into detail in the book and I wouldn't want to detract from your work by giving away information regarding thoughts, strategy, etc.
 
Would it perhaps be better to have a private section in the forum or do you have a suggestion?
 
 
Thanks again in advance for your patience and availability! I still feel like I'm the only one using the forum, or I'm the only one who doesn't understand anything and asks questions so trivial that everyone wonders what I'm doing there and they follow the posts like an episode of a series on Ne...ix (no advertising please to get out of the Rate Race!).
During your survey, it seemed to me that there were still several of us visiting your site.
 
Best regards,
Xavier
 
PS: I'm not abandoning the rest of my posts among other things to understand the choice of companies, but I want to read what is related to it in your book first. I will certainly find answers there.

[Jerome]

But who is this dear Ploutos?

Thanks for your post. Regarding the typos, figure 21, indeed, well seen… It's just in the part devoted to real estate, but wrong in this summary table. I corrected it, thanks for your lynx eye. Like what even after very many rereadings…

On the other hand, for the other point you mention, IEF is correct, not EEM as you seem to think. You choose the ETF that has the best performance among the three that are mentioned unless the MM-UI indicator is bad (in this case you switch to IEF). I will very slightly modify the wording since it seems to create confusion.

Don't hesitate if you see other things that don't seem clear.

Your private section suggestion: good suggestion, it's done and I gave you access. I'll let you open the first topic there.

I assure you that you are not the only one who comes to the forum. There are many people who read, but few who participate, which is a shame. This is the same observation that we made following the survey.

PS: in your PS you also made a very nice mistake. I think that unconsciously it was wanted. Ciao!

[PloutosNX]

Hello Jerome,

The rereading brings many corrections, but it is impossible to see everything!
It's not necessarily a lynx eye, I simply spent time on the painting and eventually I told myself that there was something that didn't fit.

No, nothing needs to be changed for ETFs and the best performance! It was me who made a mistake regarding ETFs. I took the IEF for an emerging country ETF (confused with the IEMS). In my opinion, don't change anything in your book and as I told you, I will have to reread certain passages to understand the subtleties that escape the first reading.

This is often a difficult observation regarding the forum and its use and I have had the same disappointment in the past and the different sites that I have created.
The writing of my various questions and pots aims to understand and have answers, but also to try to animate the forum.

Good point about my typo! I'll find the excuse that the V and the B are too close on the keyboard. I hesitated to specify that I won't be able to find spelling mistakes, because given the number of them I make... but more careless mistakes!

Good day,
Xavier

[PloutosNX]

Hello Jerome,

Here is my first reading finally finished! "A quality and precision of Swiss cuckoo!" are the first words to summarize my thoughts in order to qualify this work.

This book brings another vision and reflection to achieve financial independence. We are very far from the current standards that just sell wind. This first reading pushes me out of my comfort zone and raises even more questions.

Thank you Jerome for this book whose content is very relevant. I have already recommended it to a few people around me and I will continue without moderation.

Best regards,
Xavier

[Jerome]

THANKS

Amazon reviews are welcome too!

[PloutosNX]

Good evening Jerome,

Unfortunately I couldn't post it on Amazon, that's why I already wrote here... I'll try again later to put one on Amazon.

Good evening,
Xavier

[PloutosNX]

Hello Jerome,

I have a doubt about the VNQ ETF. Does it only cover the US market?
If so, I think that in your chapter "Relative momentum" there is an error in the name of the ETF for real estate outside the US.

Good day,
Xavier

[Jerome]

what a lynx eye

there is an “I” missing, => VNQI

I correct, thank you

[Author]

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