🤝 Rich friends, poor friends

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Markets

China readies new COVID rules as investors cheer easing shift (4 minute read)China is set to announce the further easing of some of the world's toughest COVID curbs as early as Wednesday, sources told Reuters, as investors cheered the prospect of a policy shift that follows widespread protests and mounting economic damage. Three years into the pandemic, China's zero-tolerance measures, from shut borders to frequent lockdowns, contrast sharply with the rest of the world, which has largely decided to live with the coronavirus.

Russian oil cap begins, trying to pressure Putin on Ukraine (3 minute read)Western countries on Monday began imposing a $60-per-barrel price cap and ban on some types of Russian oil, part of new measures aimed at stepping up pressure against Moscow over its war on Ukraine. The European Union, along with Australia, Britain, Canada, Japan and the United States agreed to the price cap on Friday. Questions have arisen about just how the Western measures will affect market prices. On Monday, U.S. benchmark crude traded up 90 cents to $80.88.

Manufacturing orders from China down 40% in unrelenting demand collapse (5 minute read)U.S. logistic managers are bracing for delays in the delivery of goods from China in early January as a result of canceled sailings of container ships and rollovers of exports by ocean carriers. “The unrelenting decline in container freight rates from Asia, caused by a collapse in demand, is compelling ocean carriers to blank more sailings than ever before as vessel utilization hits new lows,” said Joe Monaghan, CEO of Worldwide Logistics Group. U.S. manufacturing orders in China are down roughly 40 percent.

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Investing

The Bucket Strategy In A Bear Market (8 minute read)The bear has come out of the woods. The question is: were you prepared? We implemented the bucket strategy as our defense when I retired 4 years ago, and this year we’re facing our first real test of the bucket strategy in a bear market. The main purpose in implementing the Bucket Strategy was to build a defense against Sequence of Return Risk, simplify our retirement withdrawal process, and develop a system that would allow us to sleep well at night regardless of market conditions. The Big Question: How is The Bucket Strategy holding up in the bear market?

6 Simple Rules For Successful Real Estate Investing (17 minute listen)After years of working in the real estate industry, Dr. Peter Kim will share in this episode what he has observed from those who are leaders in this field. Success leaves clues, and so here are six simple rules that he has found successful real estate investors follow.

Why Blackstone’s $69 Billion Property Fund Is Signaling Pain Ahead for Real Estate Industry (5 minute read)Pain is deepening across the US real estate industry. Two of the biggest players — Blackstone Inc. and Wells Fargo & Co. — took steps this week to contend with weaker demand as the industry faces a rapidly cooling property market, rising interest rates and waning investor appetite. Both are realistic pullback responses to the overall economic weakness we’re seeing now as well as the spike in interest rates.

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Money

Rich friends, poor friends (5 minute read)Surrounding yourself with rich friends is a well-known strategy for making more money. In my 20s, I read through books about making money the way others of my generation popped certain feel-good pills. And most of those books urged their readers to abandon friends who had a ‘poverty mindset’. Instead, you should look to have rich friends going places.

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