1000000CHF's Journal

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123

That was exactly the point of Clear’s book - not to summary the neuroscience and psychology of habits formation, but rather to provide practical framework and methods around building new habits yourself.

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124

Speaking of self-help books, there’s new one by Robert Greene (unfortunately not yet available on libgen.io):

125

Since I had a conversation about learning programming and developing open-source projects with @ma0, I thought I’ll make public my idea:

I’m more interested in learning JS & TS for web development (both backend and frontend) and/or Python for data science and backend development (and perhaps Scala for distributed backend and Big Data). Next year, I’ll take some programming classes and I’ll start developing an open-source FinTech app for wealth management (based on Interactive Brokers API) and maybe other investing/personal finance/mustachian apps later on.

I thought about making it open source and free, but eventually, if it gets popular, start a Personal Finance & Wealth Management consulting startup along with it. Anyone else interested in something like that? Do you think it makes sense?

126

What do you mean by wealth management? A position keeping software (i.e what is the state of your portfolio), or with more active features, like for instance automation of investments? Can you tell what would be the main feature of your project?

127

Friend of mine told me once: “all modern business software is replacement of excel sheets”. That’s what I’d do in the beginning as well - I’d replace my excel sheet for portfolio state tracking and historical performance of my portfolio and comparisons with other potential portfolios/indexes. It could also show capitalization per country, per company size and per sector - and so on. I have in mind a tool that would be perfect to use for typical passive investor who would like to easily visualize his portfolio and returns (time weighted) and keep it optimized (by risk/return and TER).

What do you think about it? Would you prefer some other features?

128

So mainly a position keeping system (it’s the term used in the financial industry). Usually it shows performance/PnL for buy-side users (i.e funds), or your PnL and your risk(greeks : delta, gamma, rho and other fun stuffs) for the sell-side (i.e banks).

This is my specialty. I have worked 8 years on such softwares, either directly at the software vendor(3 years), or at a French asset manager specialized in issuing ETFs (2 years), or now in a sell side institution (3 years).

Such softwares designed for institutions are usually very complete and very expensive(for instance, the software I am specialized in has been created in 1985 and been constantly updated since). However I have no idea what are the current solutions for the retail investor, and I ignore as well what are the open source solution available right now. But if you want to start in this direction, I can give advices.

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129

Wow, thanks Julianek, that’s very kind. I’ll let you know once I’ll start the project and I’ll have any technical questions.

130

I found something better even than Headspace:

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131

Thanks for the Inputs!

I also really this one: The Surprising Power of Small Habits | James Clear

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132

I didn’t watch that podcast, because it is 4 hours long. But one of the guys I’m subscribing put a summary of it, with fact checking. What I got from it was that the vegan (Kahn) was backing his claims with epidemiology studies. The low-carb omnivore (Kresser) was rejecting these studies, because correlation doesn’t mean causation. He points out that if you eat meat alone then it can be harmful but if you eat it with a lot of vegetables then it changes everything. Even he says 3/4 of your plate should be vegetables and only 1/4 meat.

I also stumbled upon a reddit which discusses the credibility of dr Greger (the one from How not to Die book). He is accused of cherry picking things that back his claims from the studies and does not present any existing counter-evidence. He’s been even called a fraud, who just flashes his MD title and indulges your confirmation bias, if you’re already decided that vegan is the way.

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133

I discovered Tim Ferriss and his books (especially The 4-Hour Workweek). I found it even more fascinating than FIRE idea. His approach really makes so much sense - especially for me in my current state, when I’m less and less excited with my office job. Long story short: he recommends outsourcing/optimization to release time and resources to be able to realize your passions in a series of frequent mini-retirements. I absolutely love the idea and I already think about taking a sabbatical some time next year.

134

I did read Tim a while ago. Don’t read it now. It’s a waste of time.
Some people will point out that he’s a douche and he had a huge network of people thanks to his family and so on…

He is/was a good aggregator of ideas I believe. Some of them are very useful. I did try his diet with a friend some years ago and it worked. Ofc I bunced back once I stopped (but at least slowly) :slight_smile:

As 99.9999% of the internet marketer, you need to have an idea to market before you can automate stuff around it.

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136

There are a lot of reports calling that a scam. Be aware of that @1000000CHF.

137

I’ve seen them. They haven’t done anything yet except for promising for free their coins in the future. In any case, I only gave them my email, so I don’t care too much.

138

Friend of friend asked me to compile an intro into FI. So I thought I’ll shared it with others here:

Best Swiss FI forum:

Best Swiss FI blogs:

Best FI blogs:

Best FI blogs/podcasts:

Best FI websites/books:

More resources:

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139

Today I learned:

Benefits of meditation are wide and well-documented. The interesting thing is that there’s a physiological reason behind it. Medicine in last years discovered a biomarker called Heart Rate Variability (HRV), which determines the hormonal economy of our body that affect mood, energy, willpower, well-being, and general health. There’re two ways to improve our HRV - it’s smooth and regular breathing (meditation) and invoking appreciation (gratitude).

Here’re few videos on that matter:

140

By the way, I’m getting constant Headspace ads on Facebook about the reduced price of $58 per year. So I decided to pay it. I will use Headspace for the next year and see if it really brings me any benefits.

If I really spend 10 minutes a day with the app, then it’s 60 hours in a year. That’s 1 CHF spent for every hour :wink: .

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141

@Bojack if you are beginner in mediation then I highly recommend that you do more than 10min a day - try 20min a day. when you are more experienced then you can reduce to 10min a day. .

142

I thought it was exactly the opposite. If you are a beginner you get discouraged if you try to concentrate for more than 5minutes…

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143

yes i know they say that - consistency is the key and its easier to be consistent when you set yourself the smaller target of 10min a day instead of 20min a day. But the problem is that it can be hard for a beginner to get into the zone within 10min. But it certainly is better to do 10min every day rather than trying to do 20min every day and then end up doing it just once a week because you set your goals too high.

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