Sunday Reads and Listens...Bull Market Babies and Staying Wealthy

Good morning everyone.

No riding today...it has been raining for 24 hours.

Last night Ellen and I went to see our friend Lanny Lahr be honored at the JCC of Phoenix/Scottsdale 20th Anniversary Gala. Lanny has been a longtime mentor of mine (a real legend) and was the key person in the $30 plus million fundraising 20 plus years ago...

It was fun seeing so many of our friends in the jewish community. I made sure there were NO pictures of me in a jacket and tie though people tried.

In the spirit of fundraising, today's links are all about money, investing and wealth.

First up is Morgan Housel on Getting Wealthy versus Staying Wealthy.

On this topic, we are seeing too many newly wealthy, successful (last 10 year bull market) CEO's complain about the 'wrong' thing when it comes to their business and stock price. Here is $ASAN (Asana) CEO:

These kind of comments make me think too many tech leaders of this last cycle don't really understand how markets work at all and will not be the right leaders to thrive in the next cycle. They have not listened to the markets (a collection of people) and the markets will make you pay.

Speaking of listening to the markets, one of the best is Fred Wilson who wrote about the buy and hold mindset this week. On the venture side I wrote about the same thing possibly happening again right now earlier in the week.

As the 'magic' and 'free money' era ending continues to expose the fraud and bad behavior, this Frederik Gieschen piece titled 'Magic Words in the World of Magic Money is fantastic. Take the time to read it.

The NY Magazine has a great piece on a billionaire getting conned. Have a read here.

Have a great Sunday.

PS - do listen to my conversation with LPGA pro Anne Van Dam. I think my good luck conversation and her incredible talent will be keys to a big year for her on tour. I share some funny golf stories as well.