Riley’s Newsletter 015

Dear Friends,

Happy September 1st!

Summer is waning here… the hot-dry-sometimes-humid days now compete with rainy ones. I no longer fall asleep bathed in my own sweat. That’s good because I don’t have to buy an expensive-but-probably-amazing cooling mattress pad called the Pod Pro Cover (for a cool $1,720.00). Phew. Did you know… $1,720.00 compounded at 30% for 30 years is about $4.5 million? You can play with the numbers (and check my work!). (Pro Pod, calculator)

$4.5 million is a lot of money. That price might be worth it though if you get consistent, restorative, sleep over your lifetime. I feel like I could diffuse a nuclear bomb after a good night’s sleep. I feel like a million bucks. Bad sleep? I can barely send a text. Patrick Collison makes a pithy point about why he thinks the the Pod is worth it, too. Maybe $4.5 million to not argue with your spouse about one less thing, over two life times, is worth it, too. (Tweet)

Moving on to stocks. I have bad news. I can no longer write about securities on Riley’s Newsletter. Or chat about them on Twitter. Or a like a Tweet that mentions a stock. This is because of my almost-new job at an investment firm. If I publish about stocks, companies, etc., it’s considered a form of promotion, it must be cleared by the firm, et cetera. These rules don’t seem to apply in the U.S., as my favourite American Tweeps are money managers and tweet about stocks almost daily. Interesting.

I can’t dash off a few paragraphs about Salona Global a stock and just “Send It” anymore. Each piece must go through a review before it’s published. Likes can also be considered endorsements. That sounds annoying. Here’s how I imagine the first review: “Hey Riley what is this? The net-net formerly known as Brattle? Get a grip, man. Also, Prince is dead. Denied.” Doesn’t sound too fun. The distribution list for Riley’s Newsletter and the number of Twitter followers I have is… not large. Doesn’t matter. I must respect, and follow, the rules.

I’m frustrated because writing about stocks is a lot of fun, and FinTwit has helped me. Shouldn’t the regulators want to encourage this, rather than forcing investment professionals to go anonymous? Isn’t going anonymous worse?

The good news, for some, is that the show goes on. These next few newsletters are going to be a free-for-all until I find my new voice. It will mostly be about things I’ve learned and find interesting, books I’ve read, and things like that. It’s going to be hard to not write about stocks.

Until next time,