Relative Value
Since the pandemic, the U.S. has traded at increasingly escalating valuations relative to the rest of the world. Over the last year, there has been a material reset in this trend. Our usual disclaimer regarding the elevated earnings in U.S. AI names still applies, but we are marginally reducing our bias towards the rest of the world.
There’s More to the Mental Health Crisis Than Smartphones and Social Media
The rise of perfectionism has had a profound impact on younger generations. Adam Grant provides a number of helpful maxims for parents, teachers, and leaders seeking to address its effects.
Healthy goals include two targets: an aspirational result and an acceptable outcome. If you fall anywhere between them, you haven’t failed.
Solitude and Leadership
There is a common theme running through this month’s articles. It may be a welcome change as we turn away from technical finance toward content that is intended to provide fodder for introspection. We sincerely hope you are carving out some time to slow down and enjoy this type of reading over your summer.
Thinking means concentrating on one thing long enough to develop an idea about it. Not learning other people’s ideas, or memorizing a body of information, however much those may sometimes be useful. Developing your own ideas. In short, thinking for yourself. You simply cannot do that in bursts of 20 seconds at a time
Failing is Common, Trying is Rare
There are many times when a project comes up—or is even sought out—where we don’t deliver our best effort. You can’t give everything 100% of your attention, but it is worth focusing on the things that draw out true effort (or at least acknowledging when we are making excuses).
Putting in a mediocre effort at a given task is deeply irrational if our goal is success at that task. But often, when we put in a mediocre effort, it’s because we have other covert goals we’re not really acknowledging.
Your Life Has Seasons
A short piece on living in the moment. Do as I say and not as I do, right?
In a world that wants you to rush, the ultimate act of rebellion is presence.
Gallant MacDonald is a Private Investment Office serving a select group of ultra-high net worth families who have made significant contributions to business, public service, and philanthropy.
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