Money is Fungible

In economics parlance they say money is fungible, meaning no dollar is unique or special and they are all fully interchangeable. A dollar is a dollar.

I learned this concept early in life when I successfully paid for a GI Joe action figure entirely with pennies. Go Joe!

But this is a little more complex in the modern world, so here are some money fungibility related questions/comments I’ve received over the years.


Selling the Dream!

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Summer Plans

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Last Thursday was Jr’s last day of school. In each of the 3 prior years, at this time of year we were on a plane to Europe. Paris, Barcelona, Florence…. ahh, the good life. After a few months, we would hop across the pond to the good ole U S of A to visit friends and family before returning to Asia.

But when it came time to plan this year’s epic adventures, none of us were feeling very… epic. Or adventurous.

So this year we pieced today something different.


Accidental Market Timing

In rough terms, market timing is the practice of trying to make money by predicting future market performance. It is almost universally agreed to be a poor investment practice… “time in market is more important than timing the market.”

Predicting future market performance is… difficult. Even when your hypothesis is sound the market can remain irrational much longer than you can remain solvent. Not only do you need to be correct (often twice) but taxes and fees can erode any gains you do make.

But sometimes, when the stars align, it happens accidentally.