Adiós, amigos!
NZ Wealth & Risk
by Sonnie Bailey
1y ago
This blog and Fairhaven Wealth are on indefinite hiatus. One of the central themes of my writing is making decisions that are based on your circumstances and objectives, and that align with your values and priorities. I have other things in my life right now that are more important to me and my direct loved ones. For the past year or so I’ve tried to focus on these things by deprioritising this blog and not taking on new clients with Fairhaven Wealth. However, these things have still taken quite a lot of my mental bandwidth. This needs to end. I need to free up my bandwidth to focus on the thi ..read more
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Articles I never published
NZ Wealth & Risk
by Sonnie Bailey
1y ago
I’m taking a break from publishing on the NZ Wealth & Risk blog. It might be permanent, I’m not sure. Before signing off, I thought I’d share some articles that I wish I’d published. Most of them are partially drafted, but probably won’t see the light of day. If you have the time and inclination, you’re more than welcome to expand on these ideas and publish them somewhere! An article doubling as an “exit interview” with respect to Fairhaven Wealth. Reflecting a lot on my experience, including what I’ve learned, in the candid spirit of many of my previous articles about the business. In sh ..read more
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2022 – a belated movie & TV media retrospective
NZ Wealth & Risk
by Sonnie Bailey
1y ago
Note: I wrote this in December and forgot to publish it! I’ve watched (and have opinions) on several other shows/movies (including Avatar 2, which came out after I wr ote this) but if I wait to edit it, it’ll never get published.  — In January 2022 I listed movies & TV shows I was looking forward to. Some of these were great! There was also some amazing stuff that came from nowhere. This article is a brief retrospective of some of the movies and TV shows I enjoyed in 2022 My favourites My favourites of the year were all TV shows. In order: House of the Dragon. It captured the spirit ..read more
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“Buy things, not experiences”
NZ Wealth & Risk
by Sonnie Bailey
1y ago
An article inspired by an article! — In early 2022, Harold Lee posted an article titled Buy Things, Not Experiences. It was refreshing! I wrote something with a similar theme in 2019. But in some ways, I think Harold says it better. He talks about the philosophy of “buying experiences rather than things” as a form of minimalism, and gets to the heart of it when he says: “the focus on minimalism sounds like a new form of conspicuous consumption. Now that even the poor can afford material goods, let’s denigrate goods while highlighting the remaining luxuries that only the affluent can enjoy and ..read more
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AI and the last mile
NZ Wealth & Risk
by Sonnie Bailey
1y ago
When it comes to completing, or perfecting, projects, the pareto principle often works in overdrive. As someone once said to me that when you’re 90% done on a project, you’re probably closer to 50% there in terms of the amount of time it’ll take to finish. This observation is somewhat analogous to the “last mile” challenge, which arises in various fields, such as supply chain management, transportation planning, and telecommunications infrastructure. Someone can drop a package off at a post office, and getting that package to a distribution centre, to a port, to another country, and to one or ..read more
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Influencer marketing ?
NZ Wealth & Risk
by Sonnie Bailey
1y ago
I love this recent video from the Youtube channel How Money Works. Maybe I like it because it appeals to my pre-existing sensibilities. Basically, if a product is aligned with someone famous, I’m usually less likely to use that product. There are exceptions to this. For instance, if a movie is directed by Christopher Nolan or David Fincher, I’m likely to watch it. If David Mitchell (author of The Bone Clocks) writes a novel, I’m likely to read it. But this is because they are intimately related to the product, and they’ve earned my trust in this narrow domain. Without any further informati ..read more
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Thoughts on AI and financial advice (April 2023)
NZ Wealth & Risk
by Sonnie Bailey
1y ago
My views on AI, and specifically how it is likely to impact financial advice in the short- to medium-term, have evolved a lot in the last year or so. Why? Because when the facts change, I try to change my mind. And over the past six- to twelve-months, the facts have changed when it comes to artificial intelligence (AI). This has changed my priors about whether, when, and to what extent, AI will impact our lives. Later in this article I will talk about: What has changed my mind. Why we’re not quite at the point where AI will be able to provide high quality, comprehensive, holistic financial ..read more
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AI, red herrings, and Superman vs Voldemort
NZ Wealth & Risk
by Sonnie Bailey
1y ago
Red herrings are things that distract us from what is really important. A bit like bringing up the upcoming movie Superman vs Voldemort during a conversation that is hitting a lull*. When talking about artificial intelligence (AI), it’s easy to get caught up in abstract debates relating to “intelligence” and consciousness. While these topics are fascinating, I believe they can be red herrings that can distract us from the real-world implications of AI as it stands, and as it’s likely to stand as it continues progressing. For me, the important thing is whether, when, how, and to what extent, AI ..read more
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My crystal ball is on the fritz
NZ Wealth & Risk
by Sonnie Bailey
1y ago
I often tell people that I don’t have a crystal ball. More specifically, I tell people that I had a crystal ball, but it broke when I was in my late teens or early twenties. I say this in jest. Because crystal balls don’t exist, no matter how much people try to convince you otherwise. I usually make this bold(?!) statement in the context of conversations about whether to buy or sell specific shares, or about the value of the share market in general. The value of this share or that share isn’t just based on the asset position of the company in question, nor its historical levels of profitabilit ..read more
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Living in line with your values and priorities isn’t always easy
NZ Wealth & Risk
by Sonnie Bailey
1y ago
One of the themes of this blog is the importance of aligning your decisions with your values and priorities. Sometimes, this isn’t easy. Sometimes it’s hard. — I like getting older. The more I know and experience, the more interesting life gets. My life tends to get better most years – objectively and subjectively. But that isn’t set in stone, and there are exceptions to the rule. 2022 was an exception. For me, it was a pretty bad year. There were some awesome parts to 2022. I got to spend six weeks in Europe on a daddy-daughter adventure. My wife has kicked some professional goals, and I ..read more
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