Pearls of Wisdom

Q1 | March 2023

stack of old newspapers, pile of old newspapers

Topic: Pearls of Wisdom

James E. Houston CIM, FCSI

March 29, 2023

Image used with permission: iStock/hanohiki


Print & Share

Print

Pearls of Wisdom

Q1 | March 2023

Reading is one of the principal occupations in our profession. As we digest a wide range of material, interesting ideas and surprising facts – some serious and some light-hearted – rise to the surface. We attempt to share a few of those with you in this issue of Nexus Notes.

Wardrobe Worries

Vanessa Friedman, chief fashion critic of The New York Times, was once asked by a reader (whose husband has very few items of clothing and believes in minimalism), “How many pieces of clothing do I actually need?” That’s a loaded question! In an attempt to answer the unanswerable, Ms. Friedman offered three perspectives. 1) A survey from ClosetMaid, found that the average American woman owned about 103 pieces of clothing. 2) The Pareto principle would suggest that 20% of one’s wardrobe is worn 80% of the time, and 3) From the book Marie Kondo’s Kurashi at Home: How to Organize Your Space and Achieve Your Ideal Life, “Taking the time to assess and make sure each garment serves a purpose and sparks joy in your life is more important than focusing on the amount of what you have.” (New York Times, October 10, 2022)

Shower Thoughts

Turns out that some of a person’s most creative thoughts may come to them while in the shower. In fact, a 2019 study of 98 professional writers and 87 physicists found that ideas that came to them away from their jobs were just as creative and important as the ones they had at work. While some researchers have suggested that such “mind-wandering” has a disruptive negative effect on performance, the author of this study feels that “mind-wondering,” which is playful and curious, may actually be helpful. According to another study, most creative, spontaneous thoughts were reported during a moderately engaging activity rather than a boring one. (Washington Post, January 12, 2023)

Karma Anyone?

In January 2010, a pair of young sisters, (2 ½ years old and 5 years old) responded to a fund-raising drive in Sault Ste. Marie, Ontario, after a devastating earthquake in Haiti had killed thousands of people and left much of the country in ruins. When the local chapter of the Red Cross set up a donation table during a Greyhounds hockey game, the sisters donated the entire $61.38 that they had saved in their piggy bank. On January 7, 2023, 18-year-old Juliette Lamour (the older of the two sisters) won a $48-million lottery jackpot, making her the youngest winner of such an enormous payout. Incredibly, it was the first lottery ticket she had ever purchased. She stopped at a convenience store to buy some ice cream for a visit with her grandfather and when she called to ask him what flavour he wanted, he urged her to buy a ticket now that she was 18. Juliette works as a part-time pharmacist’s assistant in the Soo while she studies biology at Algoma University. The windfall won’t change her priorities. She will continue with her four-year program, with a goal to attend the Northern Ontario School of Medicine and come back to practice in Northern Ontario. After the win, she said, “Money doesn’t define you. It’s the work you do that will define you.” Wise indeed. (SooToday, February 5, 2023)

More Like This...

See another CRM2 blog post that may be of interest to you.

CRM2: The Nexus Approach to our CRM2 Reports

Topic:
CRM2
Excerpt:
With changing securities regulations coming into effect, investment firms are now required to provide individual investors with specific additional in

More Like This...

See another Foundations & Endowments blog post that may be of interest to you.

Charitable Giving Made Easier

Topic:
Foundations & Endowments
Excerpt:
Giving to charities and supporting our community are important to us at Nexus. We donate a portion of our management fees back to the charities and

More Like This...

See another Human Interest blog post that may be of interest to you.

Worth 1,000 Words

Topic:
Human Interest
Excerpt:
A little humour makes the world a better place.

More Like This...

See another Inside Nexus blog post that may be of interest to you.

Au Revoir

Topic:
Inside Nexus
Excerpt:
As you may be aware, my time at Nexus is coming to a close. Over the last number of months, I have been working closely with others at the firm to

More Like This...

See another Investments blog post that may be of interest to you.

Drowning in Liquidity and Greasing Growth Stocks

Topic:
Investments
Excerpt:
Now, we find ourselves in “unusual” economic circumstances and an atypical equity market – maybe we live in interesting times?

More Like This...

See another Pearls of Wisdom blog post that may be of interest to you.

The Joy of Doing Nothing Together!

Topic:
Pearls of Wisdom
Excerpt:
Life seems to be a never-ending balancing act, doesn't it?

More Like This...

See another Tax Planning blog post that may be of interest to you.

You May Have a Trust and Not Even Know It

Topic:
Tax Planning
Excerpt:
There is a significant change this tax season as additional reporting requirements have been introduced for trusts and bare trusts.

More Like This...

See another Wealth Planning blog post that may be of interest to you.

The Case for An Annual Family Roundtable

Topic:
Wealth Planning
Excerpt:
Not long after I joined Nexus, Bill Berghuis imparted some good advice that has stuck with me

On a Side Note…

See another CRM2 Nexus Notes Quarterly article that may be of interest to you.

No posts found.

On a Side Note…

See another Foundations & Endowments Nexus Notes Quarterly article that may be of interest to you.

Charitable Giving Made Easier

Topic:
Foundations & Endowments
Excerpt:
Giving to charities and supporting our community are important to us at Nexus. We donate a portion of our management fees back to the charities and

On a Side Note…

See another Human Interest Nexus Notes Quarterly article that may be of interest to you.

Worth 1,000 Words

Topic:
Human Interest
Excerpt:
A little humour makes the world a better place.

On a Side Note…

See another Inside Nexus Nexus Notes Quarterly article that may be of interest to you.

Where Have All the Boutiques Gone?

Topic:
Inside Nexus
Excerpt:
Many small, once independently managed, firms have fallen into the clutches of larger organizations such as banks, institutional money managers and

On a Side Note…

See another Investments Nexus Notes Quarterly article that may be of interest to you.

Drowning in Liquidity and Greasing Growth Stocks

Topic:
Investments
Excerpt:
Now, we find ourselves in “unusual” economic circumstances and an atypical equity market – maybe we live in interesting times?

On a Side Note…

See another Pearls of Wisdom Nexus Notes Quarterly article that may be of interest to you.

The Joy of Doing Nothing Together!

Topic:
Pearls of Wisdom
Excerpt:
Life seems to be a never-ending balancing act, doesn't it?

On a Side Note…

See another Tax Planning Nexus Notes Quarterly article that may be of interest to you.

You May Have a Trust and Not Even Know It

Topic:
Tax Planning
Excerpt:
There is a significant change this tax season as additional reporting requirements have been introduced for trusts and bare trusts.

On a Side Note…

See another Wealth Planning Nexus Notes Quarterly article that may be of interest to you.

The Case for An Annual Family Roundtable

Topic:
Wealth Planning
Excerpt:
Not long after I joined Nexus, Bill Berghuis imparted some good advice that has stuck with me