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Rebalancing & asset allocation: critical for investing. So why don’t you do it? | I Will Teach You To Be Rich
As you know, I love mocking people who believe that we are “rational” and “logical.” These tend to be economists, engineers, and other people who are clueless about human behavior. One of the best ways to reveal the difference between what rational people “should” do and what real people actually do is to talk about rebalancing and asset allocation. The reasons for investment success are not obvious. Most people mistakenly believe that your stock choices determine your success. In reality, you shouldn’t even be picking individual stocks (though this is what men in their 40s talk about at parties…that and traffic routes).
Spencer Fry — How to Bootstrap
In my 10+ years of running Internet companies, I've never raised a single dime, yet I've still gone on to sell three profitable companies and am currently on my fourth, Carbonmade . Bootstrapping is something I'm very familiar with, so I've gathered together some thoughts that should provide you a step-by-step process of going from idea to product to profitability. I have nothing against raising money — angel or venture capital — it's just not the process I'm most familiar with.I had a picture in the office of my first company with the logo above and the capital letters JFDI. (In case it’s not obvious it’s a play on the Nike slogan, “Just Do It.”) I believe that being successful as an entrepreneur requires you to get lots of things done. You are constantly faced with decisions and there is always incomplete information.
