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I have many patients that contact me with: "What do you think of my test results?" "Was there anything abnl on my tests?" "Do...

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This Berkeley professor understands cryptocurrency better than any posters on this forum:
https://www.youtube.com/watch?v=J9nv0Ol-R5Q&t=7s...

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I think you're subverting the meaning of "hard" and "money." Something isn't money if it isn't a widely accepted and easily used medium...

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A=B and B=C, ergo A=C.

Everything is valued in dollars, which are the medium of exchange. As Bitcoin is volatile against the dollar, it is...

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What sets the price of a stock in a company is the expected risk-adjusted return based on its projected earnings/cash flow/dividends. The price will typically...

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Well it isn't hard money. Hard money doesn't lose over 70% of its value in 7 months.

I won't make the argument that gold is hard money --...

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Not me. ...

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Looks like this is a source: https://coinmarketcap.com/currencies/bitcoin/

Under $18,000 when I looked. The Reddit subs are entertaining....

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I haven't read much of this thread or other crypto exchanges, so this may have been covered, but I ask in case any Bitcoin/crypto enthusiast is interested...

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From the Wall Street Journal today:

"Bitcoin fell as low as $18,739.50 and stayed below $20,000 on Saturday, according to CoinDesk,...

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He wrote on bogleheads that he earns a blogging income similar to his previous anesthesia income. He isn't retired, he just created a better job for ...

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I don't think it's possible to "mean what you say" if you create a pre-nup before promising a lifelong commitment. You can hope it works out....

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My net worth was well into 7 figures at marriage.

Before my wife I never understood how someone could promise to love and care for someone...

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My net worth was about >50X my wife's net worth when we married. After marriage I changed all of my accounts to joint accounts with her (except where...

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TIL:
Definition of abattoir
: a place where animals are butchered : SLAUGHTERHOUSEMr. Foley worked previously at a pig abattoir and reckoned...

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OK...

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For those interested, I found the Summers interview:

https://www.youtube.com/watch?v=AdzUnVdEX2Y

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Jamie Dimon changed his mind: Those aren't (economic) storm clouds ahead, it's a hurricane coming this way. He's says JP Morgan is battening down the...

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Yes. The long bull market owes a lot to the Fed's efforts. The Fed still wants to be on your side, but now has no choice but to work against investors/asset...

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Well, if you're just starting your career, that would be the best thing that could happen to you, i.e., low valuations before you have that much invested....

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Have to agree with Zaphod here. I don't know what the market will do over the short-term, but this isn't even close to "blood in the streets."...

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The current valuation (PE10) offers very low prospective returns. It's been driven in large part by the Fed creating the lowest interest rates in centuries...

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My LT projections are based on 1/PE10 and/or prospective dividend + LT real EPS growth of 2%.

As a practical matter, those projections are...

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Your conservative is my unrealistic....

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I agree that the OP will be fine. I agree that OP can afford to pay too much for something that brings him/her pleasure. I disagree with most of the rest...

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Buffet and Munger believe they do understand it, and that it is worthless. Based on Peter Thiel's rant (at the 2022 Bitcoin conference in Miami), Jamie...

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There are many, many places on the web where you can find market commentary, and with better insights than available here.

Try alphaville...

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I did. I ran a critical care staffing business and worked as an intensivist for 4 years after IM residency, then took a year off before starting a cardiology...

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I thought this post was very interesting. I've seen many articles about non-medical careers for MDs, but most are uselessly superficial. This was a fairly...

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You can't be serious....

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I have never looked into this but I believe I read on bogleheads.org that Vanguard provides a service for about 0.3% of assets per year. If true, she...

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If the patient has ischemic heart disease with HFrEF (CHF with systolic dysfunction), then they will need to be on an anti-platelet agent (e.g., ASA),...

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The point is that humans have been making technological advances forever. With regard to mkt history, there were railroads, steam engines, telegraph,...

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my base case expectation is a secular bear mkt but i hold a sig stock portfolio because expected returns better there than elsewhere and timing is impossible....

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productivity gains dont create greater earnings growth for the mkt as a whole
only for an individual company if that company is the only one with...

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The "intrinsic" return to stocks is made of the payout and growth. The higher the multiple the lower the future return, for any given payout...

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The market return isn't magic, it's arithmetic. It's dividend payout plus growth adjusted for the change in multiple over the horizon of interest....

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Rather than ask if the stock mkt is "inflated" it's probably more useful to ask if long-term returns will be better, worse, or similar to historical...

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Are you reading? There is an avalanche of research published every week.

Not long ago, I had to learn the indications/exclusions/adverse...

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I can't say I planned any of this, but this is how I've done it:

From 18-35 my focus was on lifting, dancing, clubbing, and lovers. I was...

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I had a big life when I was younger, and my career just got in the way.

At 62, I wouldn't work for free, but I do derive satisfaction from...

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The survey figures look low....

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https://open.cs.uwaterloo.ca/python-from-scratch/...

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We are the leading member of NATO. Russian wars of aggression in Eastern Europe are of critical importance to the US....

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I climb > 400 stairs/day monday-friday, partly for exercise and partly because i hate waiting for anything, including elevators. However, if you don’t...

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That sounds like a nightmare. Please pay no attention to me in the grocery store....

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When we started our physical exam classes as second year students, the instructor asked us all what field we intended to choose. Having never given the...

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That's an interesting opinion....

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I agree. If I didn't do the work my name doesn't belong on it....

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My first mouthguard was too thin/weak and I cracked it while sleeping.

After wearing the same mouthguard for about 13 years, my dentist said...

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I didn't know that I was grinding my teeth while sleeping until I was about 45 and woke up with a chipped tooth, the remainder still loose in my mouth....

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I agree....

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A patient came to me and said that his orthopedist needed me to order a vascular study before the orthopedist would operate. What the ?...

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You don't have to interpret an ECG to order one. A cardiologist will interpret the ECG you order.

I order chest CTs that I don't interpret....

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Theft.

Gold bars can be stored in safer locations, though I'm not familiar with the options and don't even know where I could buy the bars...

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This has already happened as a part of Western sanctions against Russia. So far, a couple of yachts have been seized, but it (apparently) isn't so straightforward...

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Yes, but houses wouldn't disappear in a puff of cyber smoke. As I wrote, I don't think there is a good answer to that threat....

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I have a significant gold position in ETFs. Keeping gold bars at the house (to save from cyber attack) carries greater risks than that of cyber attac...

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This is an important risk, in my view. Unfortunately, I don't have a good answer for it. I hold assets across multiple institutions, including treasurydirect,...

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Yes, my equity allocation is 100% int'l. I own gold ETFs, LT US treasurys, and cash equivalents.

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From WSJ:
House lawmakers have introduced legislation designed to end normal trade relations with Russia with measures that could significantly...

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This. The biggest threat to the market is the rate-rising cycle. The downturn was triggered by the Fed announcing its intention to finally begin.
...

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After seeing the love for FIPhysician above, I went to the site and read 11 Reasons to Not Own I-Bonds. It was one of the worst pieces I've ever read...

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Not feeling attacked.

I'm not predicting a crash, just low long-term returns, because -- history....

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The prospective S&P 500 dividend yield is 1.39%:
https://www.barrons.com/market-data/market-lab

Holding valuation constant, total,...

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Anything is possible, but I think it is crazy to project 7% real returns as a base case today. The historical average return is based on historical average...

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Just curious, are 403b rules different than 401K rules?

With 401K, the employer match is capped for highly compensated employees. For 2021,...

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If I thought about this when I was in my 30s I might have written something similar. However, at nearly 63, I can tell you that $3M doesn't provide a...

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Some people cannot imagine a fate worse than continuing in their current career.

FIRE does not imply idleness. It simply provides the option...

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Dr. Doom was not a physician. I think his blog avatar was a character from a video game or comic book series. He was a tech employee earning a good salary,...

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Yes, as I recall, she was also going to contribute $30K per year from her portfolio. They were going to live on about $60k/year. I believe that was a...

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I read Living a FI/Dr. Doom before he retired. It's fairly clear the author suffered from depression before FIRE. He also hated his job. He needed to...

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That is probably true for a physician earning less than colleagues, but not necessarily true for someone who has negotiated better terms. That is, it...

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My colleagues and I have never discussed details of our compensation. I don't know their contracted $/wRVU or how many wRVUs they earn....

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Unless the cardiologists talk to each other about their respective contracts, they don't know if the rates are different....

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Hospitals may negotiate different rates with different physicians, even if they claim that they are offering uniform contracts....

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$350K is low, but the base doesn't matter if she receives bonuses so that her pay = wRVU X $/wRVU. What matters is her contracted $/wRVU rate, and total...

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We don't take our dogs into Lowe's, but they are very unhappy about that. They are unhappy any time they are separated from my wife, and they do seem...

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Whether the advice concerns the vaccine, smoking, diet, wt loss, statin therapy, or anything else, it won't benefit the patient if you enter into a "debate."...

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These folks aren't right wing:

https://www.youtube.com/watch?v=e-UUy0aFKrE

Neither am I, but Fauci appears less than admi...

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One of our intensivists in the early 1990s had horrific, dolls-head hair plugs, so that was my impression of hair transplants, until the YouTube algorithm...

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I responded to this statement: "If I put $1m in equities in 1999 it wouldn't have been worth less in 2009. That gives me piece of mind."...

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Actually, it was worth less.

The annualized, total (i.e., dividends reinvested), real (i.e., inflation-adjusted) S&P 500 return was -3.17%...

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US real stock market returns have been negative for up to 20 years in the past. They've also been negative for 30 years in Japan, the last leader in nat'l...

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Start a new practice an hour away and try to duplicate the first? Definitely not.

One day a week luxuriously paced community health? No....

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Not Indian, and I agree....

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I also grew up lower middle class. I worked part-time through second year of med school.

I don't believe a kid who receives plenty of parental...

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And, that's what I want: https://www.youtube.com/watch?v=CeWjEYhk7Xo...

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I have four cousins (from one family) who are teachers. I doubt my aunt and uncle helped them much with money because they didn't have a lot. Nevertheless,...

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I've written about prospective returns many times on this site. CliffsNotes:

Equity returns are comprised of dividends, growth (i.e., earnings...

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Because my long-term return projections are decidedly not rosy....

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I'm a cardiologist and dropped IM long ago.

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I expect our retirement spend to be significantly greater than current spend. We have no mortgage or other debt, and I work a lot in a little town without...

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I probably spent over $100K back in 2000 when I bought my girlfriend a BMW Z3, but I don't think I've topped that mark since. Maybe I'll cut loose one...

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You think most physicians spend more than $200k/year?

I remember WCI writing once that he upped family spending to $160k/year and considered...

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We probably won't spend more than $100K/year. We spend much less than that now.

Based on my experience with inadvertent FIRE 20 years ago,...

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Don't you have to pick a side?...

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Roll Tide and War Eagle mix like oil and water....