😩 Decision Fatigue

Yes. This is the City Chad, your lifestyle guru ready to show the path to moneyrvana. Let's start vibing!

In this week’s edition:

• Markets: 🚀 Crypto Pump

• Article: 😩 Decision Fatigue

• News: 💻 Digital Euro

• Chad Of The Week: ⚽ David Beckham

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MARKETS: 🚀 CRYPTO PUMP

Good day, ladies and gents. 

Stock markets continued to decline in the past week. No surprises there. The world is still an uncertain place. And we know, the global political climate is very heated.

But this decline came despite US GDP growing at its fastest pace in 2 years. How can risk assets (like stocks) continue to go down when the economy goes up? Well, that’s one of the paradoxes of investing. 

Growth in the past is not the same as profits in the future. And the stock market normally reflects forward looking expectations. Known as a “leading” indicator.

With all the monetary tightening done by the FED, it is natural to expect something’s gonna give in the future.

But the news of the week has to be the massive jump in Bitcoin and crypto in general. Why did this happen, I hear you shout, you degen?

Basically there were more signs that the world’s largest asset manager, BlackRock could be getting closer to the launch of a Bitcoin ETF. Although there was nothing really conclusive in this respect.

With the Bitcoin halving just around the corner, it seems that history may repeat itself again. Generally Bitcoin (and other altcoins) tend to see huge rallies in anticipation of halvings.

But who knows, Chad does not give financial advice… so do your own research.

And please, for the love of God, don’t gamble with your life savings!

ARTICLE: 😩 DECISION FATIGUE

TLDR: Making Decisions is killing your productivity and self-confidence. How? Your mental energy is limited. Useless decisions waste it. It’s a crime against your progress. What's worse? It can distract you from your real goals. Failure then breeds self-contempt and loss of confidence. Learn how to develop a winning framework for making the 1 decision that eliminates 100 decisions. And frees you to become a total Chad!

• What Is Decision Fatigue?

• How Does It Affect You?

• What’s The Solution?

• The Takeaway

What is Decision Fatigue?

Yeah we all know, the world spins faster every time and taking decisions is a daily necessity.

But this is where decision fatigue can rear its ugly head!

Decision fatigue is the deteriorating quality of decisions made by you after a long period of decision-making.

The worst thing, it has the potential to:

• Drain your mental energy

• Undermine your self-confidence 

• Guide you through a different path that diverts you from your goals

It’s a sly enemy appearing due to the requirements of the hectic modern world.

How does it affect us?

Simply put, decision fatigue decreases productivity and makes the path to your goals slower.

This is how it works.

We only have a limited amount of cognitive bandwidth. Right?.

So when you put all choices and decisions on the same level playing field, you increase the chance of making some bad ones.

Why? Because you didn’t take the time to focus on just the ones that deserved your thoughtful attention.

In other words… you’ll eventually replace smart and high-impact decisions with stupid low-impact ones.

Bad decisions then erode self-confidence by making you doubt your abilities and judgment.

To make things worse.. they distract you from your real goals.

Rather than focusing on what truly matters, you will find yourself among inconsequential choices that don’t move your personal needle.

That leaves your real ambitions unfulfilled and you dig deeper into fatigue.

It’s a vicious cycle but a very silent one and for most people it goes unnoticed.

But you are not most people. You read City Chad. So here’s the solution.

What’s the solution?

Because you are only able to take a limited number of decisions in a day you gotta make sure they are the most important ones.

Ironically, leaving decision fatigue requires you to make an active choice.

It requires you to be proactive and develop strategies.

Here are my favorites:

Prioritize and Plan

Before you even start on your “to-do” list you have to ask yourself. What game am I playing?

And I don’t mean “Uno”. I mean in life. What are your real life goals and ambitions?

The next obvious question is. How does my “to-do” list match-up with those goals? Are most of the items there driving me closer to my goals?

Listen, we all gotta do the laundry and give it all at our jobs.

But if less than 20% of the things that you do in a week are not driving you towards your goals then you:

1. Change your goals, or

2. Change your to-do list

Now you have that clear in your mind then you start building your “to-do” list.

I recommend doing this once a week on a Sunday. Your mind will be clearer there and you will have less distractions. You will then be able to plan like Napoleon.

Doing it weekly also makes you more intentional about your actions. It’s not a day to day mindless collection of things you had no say about.

If you don’t like that approach and prefer to plan daily, do it early in the morning or the night before. And never during the day. That means you’ll know exactly what you need to do, and when

Recognise that not all items in a “to-do” list are created equal.

Some are strategic life objectives. Others are chores. Group them or color code them depending on where they fall.

This has proved to be a game changer for me.

When you have identified what matters the most you can allocate your mental energy to these key areas and not leave it to some future day that may never come.

Eliminate, Delegate, Automate

You should first aim to eliminate. This one is the hardest but the most powerful.

The first question you should ask yourself: do I need to do this thing at all?

If the answer is no, press delete.

Those are there are things that really do not move the needle for you and are not in line with your life goals and values.

That includes hanging out with that person you know you shouldn’t.

The next step is to delegate.

Delegating is my favorite thing. It requires skill and time. But it is an investment in getting time and money back.

What should you delegate? This is a huge topic and we will cover it in more detail another time.

The general rule of thumb: anything that you would not be willing to do for someone else for the market rate of that service. It includes most chores, driving around, tedious admin.

Now, a lot of things you cannot delegate. But within that, there are things that don’t require your attention more than once.

 And those things are best automated or systematized.

Making routines and habits will save you a lot of time. Once you get used to them they run on autopilot.

For example: organize your wardrobe once a week so you don’t have to think about the outfit every time. Small things like this makes a difference.

Did you know that Mark Zuckerberg basically wears the same outfit to avoid decision fatigue? Sounds crazy, but it’s true.

Maybe you don’t have to be that extreme, but you get the idea.

I am sure you have a morning routine. Write it down. Use your Notes app or Google Keep to create an actual checklist.

Sounds OCD and you may feel stupid but you are releasing your brain from the task of thinking about things. 

Do that often. Your brain will thank you by clearing its cache, so to speak.

The magic word “No”

Not every choice demands your attention. In fact, many of them are trivial and you don’t even want to do them

So what’s the magic pill? 

Don't hesitate to say “No” to some things. It's truly better to say no from the beginning than to commit and not follow through.

Learning to say “no” also empowers you. It reminds you that you are the dog wagging the tail of your life and not the other way around. 

Don’t underestimate the value of ingraining that heuristic in your mind.

Remember, your actions need to be aligned to your goals if you want to reach them.

Saying “no” to things is part of the process because nobody is as aware of those goals as yourself.

It is your responsibility to communicate them to the world around you, and saying “no” is part of that task.

The Takeaway

Modern life is fast and agitated, putting our attention on the right things is essential to be productive and take care of your mental health.

Implementing a structured approach is the way to break free from decision fatigue.

By shedding the weight of unnecessary choices, you not only empower yourself but increase productivity and restore self-confidence.

Establishing limits is the way to become a true Chad, liberating yourself from decision fatigue in your personal and professional life.

And remember, it’s a “To-Do” list, not a “To-Try” list. Follow through in what you say you’re gonna do. You got this!

NEWS: 💻 DIGITAL EURO

The European Central Bank (ECB) is beginning an experimental phase for its digital currency beginning next Wednesday, November 1^st.

This has many people quite worried. And I would say, rightly so.

On the surface it sounds like there are a few advantages. The goal is to facilitate digital payments within the Eurozone.

The user experience may be similar to using an app or a card, so it won’t be something that we aren't already familiar with.

That being said, there are some things that are not as good.

Privacy is one of the main concerns. With cash, all transactions are anonymous, but digital payments can be tracked easily.

Another issue is centralization. This currency will be controlled by the ECB, and that comes with all the counterpoints.

For example, what if they suddenly decide to drain your wallet because they don’t like what you say or do?

For me it looks like crypto done wrong. What do you think?

CHAD OF THE WEEK: ⚽ DAVID BECKHAM

We often associate greatness with an unrealistic level of perfection.

The truth is that perfection does not exist.

Greatness is its own thing, and it has nothing to do with perfection. It comes with its own merits.

That’s why I wanted to talk about David Beckham today. The man that has been recently the subject of a very popular Netflix documentary.

He's not a flawless icon. David is not exceptionally charismatic nor an academic genius. He made mistakes like all of us.

So, what's the secret behind his success? I’d say it’s his unparalleled work ethic and energy.

He was quick to understand that everyone has their unique set of assets. He leveraged his soccer skills and good looks to carve out a legendary career and legacy.

Beckham's rise to Chad status is a reminder that hard work, leveraging your unique assets, and striving for greatness is how you get to an extraordinary life.

And most importantly, become Chad of the week!

Take a leaf out of his book and bend it like Beckham in your own pitch.

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The Chad index (“the index”) is a combination of historical returns for the following assets:

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