Save Like A Pessimist, Invest Like An Optimist
Save Like A Pessimist, Invest Like An Optimist
Sep 2, 2020 by Morgan Housel
In 1984 Jane Pauley interviewed 28-year-old Bill Gates. “Some people call you a genius,” Pauley said. “I know that might embarrass you but …”
Gates deadpans. No emotion. No response.
“OK, I guess that doesn’t embarrass you,” Pauley says with an awkward laugh.
Again, zero reaction from Gates.
Of course he was a genius. And he knew it. Gates dropped out of college at 19 because he thought a computer should be on every desk in every home. You only do that when you have relentless confidence in your abilities. Paul Allen once wrote about the first time he met Bill:
You could tell three things about Bill Gates pretty quickly. He was really smart. He was really competitive; he wanted to show you how smart he was. And he was really, really persistent.
But there was another side of Bill Gates. It was almost paranoia, virtually the opposite of his unshakable confidence.
From the day he started Microsoft he insisted on always having enough cash in the bank to keep the company alive for 12 months with no revenue coming in. In 1995 he was asked by Charlie Rose why he kept so much cash on hand. Things change so fast in technology that next year’s business wasn’t guaranteed, he said, “Including Microsoft’s.” In 2007 he reflected:
I was always worried because people who worked for me were older than me and had kids, and I always thought, ‘What if we don’t get paid, will I be able to meet the payroll?’”
Optimism and pessimism can coexist. If you look hard enough you’ll see them next to each other in virtually every successful company and successful career. They seem like opposites, but they work together to keep everything in balance.
What Gates seems to get is that you can only be an optimist in the long run if you’re pessimistic enough to survive the short run.
The best way for most people to apply that is: Save like a pessimist, invest like an optimist.
Let me try to convince you of each.
To continue reading, please go to the original article here:
https://www.collaborativefund.com/blog/save-like-a-pessimist-invest-like-an-optimist/
KTFA
Monday Night Video
FRANK26….8-24-26…..NEW RATE AND LD’S ARE THE SAME
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
The Whole World Is Stockpiling Like It's 1939
Notes From the Field ByJames Hickman (Simon Black / Sovereign Man August 24, 2026
On June 7, 1939, US President Franklin Roosevelt signed a new law authorizing $100 million (a lot of money back then) to buy rubber, tin, tungsten, etc., and put it all in storage.
The United States was still at peace at the time. World War II had not yet broken out, and global trade was still relatively seamless.
Sunday Update - Washington Supports the Dinar Plan ?
The Dinar Den: 8-23-2026
The discussion surrounding international currency markets and potential revaluations often brings significant interest from long-term observers. Among these topics, the economic restructuring of Iraq and the potential revaluation (RV) of the Iraqi Dinar stand out.
In a recent analysis shared by Stephen, host of The Dinar Den and an experienced observer of Iraqi financial trends since 2011, key updates were highlighted regarding where Iraq stands in its journey toward comprehensive monetary reform.
Rob Cunningham: Federal Reserve Bypass Operation in Effect
FEDERAL RESERVE BYPASS OPERATION IN EFFECT
Something profound just happened to the architecture of money.
The GENIUS Act is now law.
It creates a legal framework for 1:1 reserve-backed payment stablecoins and expressly directs regulators to promote interoperability with the broader digital-finance ecosystem—including public and permissioned blockchains.
Think about what this means.
Oil Drops Ahead Of Tougher US Iran Sanctions
2026-08-24 Shafaq News Oil prices slipped more than $1 a barrel on Monday as investors took profits ahead of an expected announcement from Washington about imposing more sanctions on Iran that may further disrupt supplies from the Middle East.
Brent crude futures fell $1.23, or 1.3%, to $93.16 by 0329 GMT, while U.S. West Texas Intermediate crude was at $85.7 a barrel, down $1.36, or 1.6%.
Good Afternoon Dinar Recaps,
The Iran Sanctions Test: Oil, the Dollar and the Global Financial System Enter Another Phase
Washington is escalating financial pressure on Iran just as the rial reaches another record low, putting oil flows, dollar-based sanctions and alternative international trade channels under renewed pressure.
Coffee with MarkZ, joined by Bob Lock. 08/24/2026
MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: Meetings today, expectations this week, Hormuz, oil prices, and more with Bob Lock joining to talk trusts, and the Mushroom Ladies.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
TNT:
Tishwash: Al-Halbousi affirms Parliament's readiness to support financial inclusion
Speaker of Parliament Hebat al-Halbousi and First Deputy Speaker Adnan Faihan al-Dulaimi discussed, in two separate meetings, with the Governor of the Central Bank, Nizar Nasser Hussein, ways to enhance financial and monetary stability and develop the performance of the banking sector in the country.
A statement issued by the media office of the Speaker of Parliament indicated that Speaker Halbousi received the Governor of the Central Bank and his accompanying delegation to discuss monetary policy and prospects for developing the financial system.
Majeed KSA: RV Summary as of 23rd August 2026
RV summary:
– The name of the last two nominees left to fill up the cabinet, were sent to the Prime Minister’s office last night.
– US treasury squeezed Iran by the balls… the economy is so bad in Iran, Iran started crawling for any way to get money through any neighboring country especially Iraq and keep kissing Iraq’s a*s in order to get something… but the Prime Minister keep giving them the middle finger.
Iraqi Hopes For Removing Zeros From The Dinar To Combat Corruption
Baghdad Ahmed Eid The proposal to remove zeros from the Iraqi dinar has brought back to the forefront a wide debate about the reality of the project, the possibility of its implementation, and the results that it can achieve, especially with its connection to returning hoarded funds to the banking system and revealing some of the funds resulting from corruption, in addition to questions about its impact on inflation, the value of the dinar, and purchasing power.
Good Morning Dinar Recaps,
When High U.S. Yields Stop Supporting the Dollar: Debt, Treasury Policy and a New Currency Warning
The traditional relationship between higher U.S. interest rates and a stronger dollar is being tested as investors increasingly focus on the size of U.S. debt, Treasury intervention and the long-term credibility of the fiscal position.
Al-Abadi On The Anniversary Of The Founding Of Iraq: Sovereignty, Institutions, And Justice Are The Criteria Of A True State
Baghdad - One News - 8/23/2026 On the anniversary of the founding of the modern Iraqi state, Haider al-Abadi, head of the Victory Coalition, affirmed that building a state is not completed by the date of its declaration or by the passage of time since its establishment, but rather by its ability to protect its sovereignty, preserve its institutions, and achieve justice for its citizens.
MilitiaMan & Crew: IQD News: What You Need to Know Right Now
8-23-2026
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.
Follow MM on X == https://x.com/Slashn
KTFA
Sunday Night Video
FRANK26….8-23-26…. THE GREEN
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
Rob Cunningham: Liberty at Machine Scale and the Stairway to Abundance
8-23-2026
What Does Liberty at Machine Scale Mean to Humanity?
We can’t begin to process the scope and scale of abundance humanity is soon to enjoy.
Imagine that today you own: $10 million of land.
The land may make you wealthy on paper, but you cannot send 0.003% of it across the planet at 2:14 AM, place it into an automated liquidity pool, use it for a three-hour secured financing transaction, retrieve it, pledge it elsewhere, or exchange part of its economic exposure against another asset.
We NEED A Gold Standard To Survive | Alasdair Macleod
Money Markets and more by Dominic Frisby: 8-23-2026
In this latest Money Markets and More, I sit down with monetary analyst Alasdair Macleod to discuss gold, fiat currency and why he believes we are rapidly approaching a point at which the monetary system as we know it can no longer survive without a return to gold.
Good Afternoon Dinar Recaps,
China's Yuan and the Emerging Shift in Global Trade Settlement
China is continuing to build the infrastructure for a larger international role for the yuan, and today's Sinopec results provide an important energy-market connection. The shift is not a sudden replacement of the dollar—but the combination of China's energy position, yuan settlement and expanding cross-border payment infrastructure is creating another pathway for global trade outside traditional dollar channels.
US Imports 6K Bpd Of Iraqi Crude After Seven-Week Gap
2026-08-23 Shafaq News- Baghdad/ Washington US crude oil imports from Iraq resumed at 6,000 barrels per day (bpd) after seven consecutive weeks at zero, according to the latest US Energy Information Administration (EIA) data. The week ending August 14 marked the first Iraqi crude shipments to the United States since late June, well below the 71,000 bpd recorded in the week ending June 19.
TNT:
Tishwash: The parliamentary legal committee submits 40 draft laws to the parliament's presidency.
The parliamentary legal committee confirmed on Monday that it had submitted about 40 draft laws to the Speaker of Parliament, while clarifying the constitutional and procedural differences between draft laws and proposals.
Committee member Thaer Al-Kaabi told the official agency, as reported by 964 Network , that “the committee has completed submitting approximately 40 draft laws to the Council Presidency to proceed with their legislation,” indicating that a number of them have been read, most notably the Lawyers Law and the Notaries Public Law, as well as the reading of the Minors Care Law, which are qualitative and important legislations targeting a wide segment of the Iraqi people.”