TRUMP PROMISES $5,000 PAYMENTS IF GOP WINS MIDTERMS
President Trump says he would give every adult U.S. citizen $5,000 if Republicans win both the House and Senate in the 2026 midterm elections.
Trump said he looks forward to βsigning those checks,β tying the proposed nationwide payments directly to Republican control of Congress.
"Write your obituary the way you want it written, then live accordingly"
Charlie Munger was worth about $2.6 billion, but lived in the same home for 70 years. In his final interview in 2023, he explained why he had deliberately decided against a bigger one.
He and Buffett had watched friends get rich and build extravagant houses. Munger said that, in most cases, it made them less happy.
"Having a really fancy house, it's good for entertaining 100 people at once. It's a very expensive thing to do. And it doesn't do you that much good."
Munger had considered a bigger house himself. He and his wife raised eight children, so he could justify the extra space, but he deliberately chose not to.
"I didn't think it would be good for the children."
Children learn their attitude toward money from their parents, Munger explained. If wealth at home means living lavishly, they grow up seeing that as normal.
Munger had once advised Buffett to write the obituary he wanted, then live accordingly. Asked whether he had done the same, Munger replied: "I've written my obituary the way I've lived my life."
Munger spent decades studying why even smart people make costly mistakes.
In the article below, I turned the 25 psychological tendencies he identified into a practical checklist for spotting errors in your own judgment.
The greatest trader in history Jesse Livermore started as a 14 year old chalkboard boy earning $5 a week.
- Placed his first bet at 15. Made $3.12 in 2 days.
- Full time trader at 16. No school. No mentor. Just price action and obsession
- At 24 he used 400% leverage, lost everything, and was completely broke
- Borrowed $2,000, moved cities where nobody knew him, and turned $10K into $500K within months
- Made $1 million in a SINGLE DAY during the 1907 crash
- JP Morgan personally called him and BEGGED him to stop shorting
- Bought yachts, private railcars, and mansions across America
- Lost everything. Again. Went completely broke. Again.
- Rebuilt his entire fortune. Again
- Then in 1929 he shorted the entire stock market before the biggest crash in history
- Made $100 million in one trade. That's $1.5 billion adjusted for today
- His #1 rule after 30 years of trading: "The money is made in the waiting, not the trading"
- He said his biggest losses ALWAYS came from the same thing: not following his own system
- 100 years later his book is still the #1 recommended trading book on Wall Street
@alin_grada@VasSze95415@jb2lines Oh my gosh, some people are so easily triggered & have no sense of humor. The world we live in today is so far removed from the world of 25 years ago and even 10 years ago. Beam me up, Scotty.
It's one thing to correctly predict market moving news. It's an entirely different thing to correctly predict the market's reaction/direction from said news.
The hard part right now is both are entirely up in the air. Worst environment since late 2021.