Can 90% of people be above average drivers? Certainly not, yet multiple studies have shown that if you gathered 100 random people in a room, more than 80 would rate themselves as above average drivers. This phenomenon is known by several names, but is illustrated quite well in Garrison Keillor’s popular quote in reference to the fictional town of Lake Wobegon, where “all women are strong, all men are good looking and all children above average.”

Would you consider yourself an above average investor? If so, you’d be perfectly aware of your own blind spots and care little about how your neighbor is investing. Many of us care too much about what others think to make a brave choice. In this compelling episode of Malcolm Gladwell’s hugely successful podcast entitled Revisonist History, he discusses this concept in the context of Wilt Chamberlain’s horrendous free-throw shooting.

(Stay tuned for the cameo from behavioral economist Richard Thaler regarding how NFL teams could easily win more football games.)

I read a great article recently in the New York Times.  It revealed that studies ranging from Emory University to Silicon Valley indicate that children learn resilience when they discover how their family and previous generations have dealt with adversity.  Introducing stories from your past, trials and errors, success and failures – anything that reveals to your children that mistakes are a part of life – will enable them to become stronger, more resilient members of society.

Reading this article is a great starting point to come up with ways to weave your own family narrative into dinner table discussions this holiday season (which is right around the corner)! Ask your children and grandchildren questions, share your stories with them, and be prepared for new holiday memories to be made.

Please click here to read the full article: The Stories That Bind Us.

At Hill Investment Group, we are proud to deliver best-in-class investment reporting to our clients each quarter.  Having had experience with reporting writing software, this is no easy task.

As our clients know, our reports clearly illustrate the vital signs every investor should know – fees, returns and asset allocation.  Well, we’ve decided that’s not enough.  Late last year, we began experimenting with a new tool that will bring all your wealth into the palm of your hand.

So, now you can securely see your real estate holdings, banking assets, and private assets on the web or your phone. Check out the video below.

I’m making personal calls to our clients about the tool, but please let me know if you would like your access accelerated.  And, be sure to ask me about the ability to run a formatted personal financial statement as of any date with the click of a few buttons.