It's a Bold Strategy Cotton: 2021, a Year in Review

Dec 31

The world is a giant meme.

It must be true if, when reviewing the last twelve months, the first thing that came to mind is a meme from 2012.

Despite involuntarily learning the Greek alphabet and playing another round of "canceled or not," 2021 was a special year.

Starting and growing a business during a pandemic with a newborn at home? Launching a podcast amid a boom in an already crowded category? Creating a blog when you have no clue if anyone cares what you have to say?

It's a bold strategy, Cotton. Let's see if it pays off for 'em.

I've never been a new years resolution person. I figure if a goal or habit can wait until the new year, the odds of sufficient motivation to see it through are low. Instead, I try to implement new habits as I'm motivated or determine a change needs to be made. Krishnamurti wrote the following passage:

We think that changes in ourselves can come about in time, that order in ourselves can be built up little by little, added to day by day. But time doesn’t bring order or peace, so we must stop thinking in terms of gradualness. This means that there is no tomorrow for us to be peaceful in. We have to be orderly on the instant.

I decided to write an end-of-year review in place of a new year's resolution. Reflecting on the previous year seems more valuable and actionable than setting resolutions because a specific date makes it fashionable.

Reading:

Reading is magical, the ultimate shapeshifter. Thoreau said that "books are the treasured wealth of the world," and I agree. But books take many forms. Educator. Entertainer. Philosopher. Comedian. Role Model. Synthesizer.

I read 13 books in 2021 (favorites summarized below):

Three of my favorites were:

Wealthier, Wiser, Happier — the subjects of William Green's masterpiece have a lot to teach us, but not just about investing. It just so happens that many of the attributes that work in business and investing are also tools for enlightenment and happiness. The aggregation of marginal gains. Delayed gratification. Kindness. This book isn't about getting rich; it's about becoming wealthy.
Man's Search for Meaning — we learn about the horrors of the holocaust as children in school, but Frankl's first-hand account of Nazi death camps is a chilling reminder of the evil of which man is capable. But Man's Search for Meaning is one of triumph and hope. "We who lived in the concentration camps can remember the men who walked through the huts comforting others, giving away their last piece of bread. They may have been few in number, but they offer sufficient proof that everything can be taken from a man but one thing: the last of the human freedoms — to choose one's attitude in any given set of circumstances, to choose one's own way."
The Omnivore's Dilemma — we're facing health epidemics in this country that Greek letters or fear-including alpha-numeric names don't identify. Obesity, heart disease, diabetes, cancer. Michael Pollan tackle's a fundamental question that has massive repercussions, "what's for dinner"? This book was critical in changing how our family answers that question, and we're healthier for it.

Writing

Writing is hard. Publishing your work is tortuous.

I'm usually a ball of energy with too much to say and at deafening levels. Even my internal chatter is overwhelming sometimes. How, then, is it possible that I can't think of anything when I sit down to write? Nothing at all.

I'm determined to become a better writer, and writing is the only way I know to improve. It's been a fun, fulfilling process. But at times, it's been excruciating. Times of doubt are plentiful. The number of deleted drafts, nearly uncountable. And the minutes spent staring off into the void, unable to generate even a single sentence, embarrassingly high.

The worst part of all, though, is re-reading old posts. PAINFUL! Did I write that? What does that even mean? What was I thinking? I sound like an idiot. Those are a few internal dialogues (sans the explicit language) that occur frequently.

Despite the insecurity, I scratched and clawed against the diffidence and managed to write and publish whatever my pea-brain managed to generate.

I hesitate to use the word highlights, so here's a brief recap:

Published — 39 blog posts (11 personal, 28 business)
Drafts — 29 in-work
Most read post — MY FAVORITE LIFE HACK — WEEKLY COFFEE MEETINGS WITH MY WIFE
Most enjoyable to write — THE DECLINE OF NUANCED THINKING

Did I become a better writer?

Like looking in the mirror after working out a few times and hoping to see a transformation, it's not immediate. Improving is a slow process that will take years. Still, I have no doubt the marginal gains of consistent writing will aggregate and even compound over time, culminating in the writing equivalent of a buff, athletic, sculpture-worthy specimen (or at least a healthier than average organism).

Podcasting

I love trying and learning new things. I also love getting shit done. Occasionally that combination pushes me to jump into something without knowing what I'm getting into. Launching Bulls, Bears, and Bourbon, the podcast, was undoubtedly one of those instances.

Fortunately, that tendency to act without considering the ramifications has led me to do many exciting things. When planning the show, I intended to use it as a platform to talk about the stock market, the economy, and current events. However, fate had something else in-store, and in a Frankenstein-ish way, the show took on a life of its own.

The result is a much better show. Instead of talking about short-term market movements, I chat with guests about long-term behaviors and habits. Instead of focusing on current events, we talk about their journeys, business, and entrepreneurship. The show is more about wealth than money.

The most surprising part of my podcasting experience has been people's generosity with their time. CEOs, founders, authors, and investors have been willing to give a new podcast with a first-time host a shot, and for that, I'm very grateful.

Published — 19 episodes
Listeners from 39 countries

Most Listened to Episodes:

William Green: author of Richer, Wiser, Happier: How the World's Greatest Investors Win in the Markets and Life. The book is the culmination of his journalistic work, which led him to conversations with many of the world's greatest investors, from Sir John Templeton to Charlie Munger, Jack Bogle to Ed Thorp, Will Danoff to Mohnish Pabrai, Joel Greenblatt to Howard Marks. Green's superb storytelling shines throughout our conversation as he shares insights for investing and life from the world's business titans.
Ben Leybovich: Principal of both WhiteHaven Capital and WhiteHaven Construction, Ben brings his unique perspectives to the show. He shares his "why" and explains his unanticipated entrance to real estate investing. At WhiteHaven, Ben oversees new acquisitions, asset management, and investor relations. He's been investing in multifamily real estate since 2006 and maintains a private portfolio outside WhiteHaven. He's also a published author and prolific blogger.
Brian Feroldi: Brian discusses his investing checklist, how he decides when to sell a stock, optionality, FIRE (Financial Independence, Retire Early), valuing a company, and so much more in this packed episode of Bulls, Bears, and Bourbon. Brian started investing in 2004 and has since become a contributor to the Motley Fool and grown a large Twitter following for his practical, easily digestible content.

Habits

In Western culture, we primarily measure success by setting and achieving goals. One by one, we tally our wins, and after one win is notched, we start on the next. This apparatus for "inventing the future" can lead to good grades, successful careers, and recognition, but also a lack of peace during the moment.

Dilbert comic strip creator and author Scott Adams summed it up pretty well:

Goal-oriented people exist in a state of continuous pre-success failure at best, and permanent failure at worst if things never work out. Systems people succeed every time they apply their systems, in the sense that they did what they intended to do

I focused on developing and maintaining habits to try to circumvent the achievement trap. For example, instead of setting a target weight goal, I focused on doing push-ups every day, playing tennis or rowing at least twice per week, and removing most sugar and processed foods from my diet. As a result, I lost weight and am less at risk of falling victim to the vicious yo-yo cycle prevalent among fad dieters and gym-goers.

I've tried to apply this principle to other areas of my life: reading, writing, meditating, relationships, etc. The results and my mental state have improved as a result. Here are some "continuous actions" on my list:

Meditate 10 mins a day (I need to work on this one)
Drink 140 ounces of water a day
Sleep for 8 hours a day
Write for two hours at least two times a week
Read for three hours per week (physical books)

To implement these habits, I've enlisted the help of the task management app, Todoist. I set up recurring tasks depending on the frequency. While clearing the list is satisfying, creating healthy habits is the real reward.

Cool Stuff I Discovered

LMNT — I'm not a shill, just an enthusiastic customer. Dehydration has plagued me for years. I didn't drink enough water, and I sweat a lot; not a great combination. I heard about LMNT, an electrolyte mix with magnesium and potassium, and no artificial ingredients. Immediately after taking one packet a day, I felt more energized and slept better. I track my sleep with the Sleep Cycle app, and you can see when I started taking LMNT on the sleep quality chart. This stuff is fantastic!

Notion — warning, the first time you use Notion will likely end in complete disaster. Notion is one of the most robust tools I've ever seen, making it daunting at first. But don't be deterred. I use Notion as a hub for my wealth management business, note storage, blog planning, travel planning, reading list, and more. Notion bills itself as "the all in one workplace for your notes, tasks, wikis, and databases," and they aren't lying. Give it a try; it's well worth the initial feeling of being overwhelmed.

Balance — meditation always seemed too new age and hippy for me. But time and time again, people I greatly respect touted a mediation practice as an essential part of their routine and life. I didn't know where to begin until I came across Balance. The "guides" help you develop important mediation skills, little by little. Their educational system has helped provide the foundation upon which I can build a sustainable meditation practice.

It wasn't all rainbows and butterflies.

I wasn't even close to perfect in the pursuits we collectively call life, but hey, who is? If perfection is the aim, failure undoubtedly will be the result. But I'm building. In Atomic Habits, James Clear wrote:

“You should be far more concerned with your current trajectory than with your current results.”

He's right. It's about improving—little by little, habit by habit, day by day.

James W. Vermillion III