THIS WEEK'S LESSON:
I turned 36 this weekend. In the run-up, the family kept asking me, “What do you want for your birthday?”
My genuine answer was “nothing”.
That wouldn’t have been my answer in previous years. But I’ve recently realised I’ve actually got everything I want and more.
The only thing I wanted to do for my birthday was go on a nice walk and spend time with my kids. I did, and it was great.
The older I get, the more I realise material possessions hold no real value in my life.
I know what I value: freedom and experiences. I’m more determined than ever to build towards financial freedom as quickly as possible, but without sacrificing the present to get there.
That’s why I invest. Not for stuff, for time.
I’ll never be this young again, and my kids will only be this young once. So I want to cherish it, not take it for granted, and use my money to buy my freedom.
This mindset has been building over the last couple of years, and today it’s clearer than ever.
I’m documenting the journey here and sharing my lessons for two reasons:
- It helps me get clearer on what I want.
- I know many of you share similar goals.
I hope you enjoy reading and get something from it.
MARKET NEWS:
BoE raise rates for first time in 3 years
In an 8–1 vote, the Bank of England raised the base rate for the first time in over three years, in an attempt to control inflation.
Critics argue that because inflation is being driven by external factors (the Middle East tensions), a rate rise won't control prices. It will just make life harder for people who are already struggling.
Will it make a difference? It's unlikely. Inflation is expected to keep rising, and many expect the BoE not to stop here.
After US CPI came in higher than expected on Tuesday 10 November, the Fed is also expected to raise rates again in December.
What it means for investors: higher rates tend to put pressure on growth stocks and make cash and bonds look more attractive in the short term. My plan doesn't change: same ETF, same payday.
The AI wobble
After the Democrats' midterm sweep, US tech stocks had a brutal day as investors started worrying about a slowdown in AI data-centre building.
An estimated $2 trillion was wiped off the Nasdaq 100, which closed down 6.36%, its worst day since March 2020. [CHECK both figures]
This week, markets began to recover (except Nvidia). Many used the dip as an opportunity to buy at cheaper prices.
Single-stock holders felt the swings far more than index holders, both ways.
Two Huangs don't make a right
The biggest scandal in recent memory took on a life of its own this week, when Nvidia founder and CEO Jensen Huang admitted to an affair with an alleged Chinese spy (Alice Huang, fortunately no relation).
The allegations, and the potential security leaks, have put his position under threat, with investigations under way by Congress and the Nvidia board. None of it has been proven yet.
Investors did not take the news well. Nvidia didn't recover with the other tech stocks on Monday 9 November, closing down 4.27% at $178.67, and it went down 25-30% in a month of trading, its cheapest in a long time.
Some see this as an opportunity to buy. Others are worried about where the investigation leads and about Nvidia's long-term prospects, with or without Jensen.
ONE NUMBER THAT MATTERED:
6.36%: the Nasdaq 100's fall in a single day, its worst since March 2020.
Index holders got through it. The ones who sold locked it in.
WHAT'S TO COME:
- Tuesday 17 Nov: Nvidia Q3 earnings
- Wednesday 18 Nov: UK CP
- Thursday 19 Nov: Anthropic IPO (tbc)
QUOTE OF NOTE:
"It takes 20 years to build a reputation and five minutes to ruin it" - Warren Buffett
MY FAVOURITE 𝕏 POSTS THIS WEEK:
A reminder from Morgan Housel that if it won't be a problem in years to come, it shouldn't have your focus today:
A funny take from one of my favourite investing accounts:
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9:13 PM • Nov 8, 2026
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Inspiration that your biggest obstacle is yourself:
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10:59 AM • Nov 10, 2026
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