We're rolling out the Roundup a little early this week. Enjoy!
- Victory belongs to the patient (Larry Swedroe, The Evidence-Based Investor). When it comes to investing, 10 years isn't a long time. (The Vanguard study referred to in this piece is here — in PDF.)
- The psychology of the stock market, in one image (Cullen Roche, Pragmatic Capitalism). Becoming a successful long-term investor requires fighting a battle that takes place primarily between your ears.
- Pandemic + Recession = Multiple Expansion? (Charlie Bilello, Compound Capital Advisors). The S&P 500's P/E ratio has moved from 20.6 at the start of 2020 to 30.3 today and is on pace for the highest year-end multiple in history. What a wild year.
- My 2020 investing lessons (Ben Carlson, A Wealth of Common Sense). Among them, "The stock market has the ability to make you feel like an idiot and a genius in the same year."
- Fund investors have been a steadying force (John Rekenthaler, Morningstar). "Historically, fund investors have been regarded as among the least stable of stock-market participants.... [They] can readily indulge their emotions. However, they do not appear to have behaved that way [during this year's downturn]."
- The best way to organize your assets (Nick Maggiulli, Of Dollars And Data). "Best" is perhaps too broad a word (everyone's situation is different). But his advice is worth considering.
- The clock is ticking. Here are some money moves to make before the year ends (Dave Gilreath, CNBC). Most of these suggestions relate to reducing your 2020 tax liability.
- Still have money in your flex spending account? Here's how you can spend it down (CNBC). It's unfortunate that FSAs have a "use it or lose it" aspect.
- Tax benefits of donating to charity (Jim Dahle, White Coat Investor). This is from a site targeted to doctors, but the article is helpful for anyone who wants to be both generous and tax-efficient.
- True generosity (Leo Sabo, Christian Stewardship Network). This article quotes one of my favorite verses related to giving: "For all things come from You, and of Your own we have given you" (1 Chronicles 29:14 NKJV).
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