I trust you witnessed the market roller coaster of the past month when:

  • Two banks in the United States failed (Silicon Valley Bank and Signature Bank).  The U.S. government made sweeping promises to depositors that money would be available but nevertheless sent fear throughout the global banking system
  • Credit Suisse, the second-largest bank in Switzerland, collapsed in March 2023 and was bought by rival UBS to avoid a larger systematic risk for the entire banking system

Lessons to be learned? These were not “risky” banks in emerging markets. However, they had a fair amount of mismanagement. Unfortunately, clients tend to be the last to know about it.

As such, as a golden rule, I tend to diversify not only among my securities (financial assets) but even among banks. The financial system is fragile. Period. You might get your money back, but it will take time and effort. Diversification among “high quality” products and providers is a great mitigation measure.

Back to timeless insights. Enjoy this curated list of Sweat Your Assets monthly content.


  • PERSONAL FINANCE. People would rather believe they have been robbed than that they have been fools on the advice of fools. (Fred Schwed Jr)
  • INVESTING. The Concept of surviving on average is irrelevant. You have to survive every day. This means, really, that you have to survive on the bad days. (Howard Marks)
  • MINDSET. Ambition is when you expect yourself to close the gap between what you have and what you want. Entitlement is when you expect others to close the gap between what you have and what you want. (James Clear)


Desiderata by Max Erhmann

DESIDERATA. Along your journey towards financial and personal wealth, you are surely put to the test. You will test your character, your values, and your determination. Your success or struggle will also test the quality of your friends and acquaintances. When I am under pressure, I make sure my mindset – what Warren Buffett calls his internal scorecard – is well functioning, to properly judge the trade-offs of each personal and financial decision. In such times, there are timeless poems that shed light on how to find yourself while sweating your assets.  Today’s selection is about Max Ehrmann’s poem Desiderata.  Read it, and let it sink. I am sure you will love it! Read More.

Iatrogenics- avoid harm

IATROGENICS. Avoid Unintended Harm. Are you familiar with the term “iatrogenic”? It has the potential to question and improve the way we execute our humanitarian, philanthropic and impact-investing initiatives. Our attempts to bring positive change can result in unintended negative consequences. This is precisely what iatrogenic refers to, and it’s imperative that we take heed of it as we devote our time, energy and money towards bettering our communities and cherished causes. Read More.

Until Next Month…Keep it Real and Sweat Your Assets.


Alessandro BARONI


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