24Hour Journal

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2023 Letter from the Founder
24hourjournal.substack.com

2023 Letter from the Founder

Looking ahead to 2023, the team at 24Hour Journal will continue to tell the stories of money, business, and investing.

Dennis Wisco
Jan 2
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2023 Letter from the Founder
24hourjournal.substack.com
Taken at Česká Národní Banka, the central bank of Czech Republic.

Dear Subscribers.

Happy New Year, and thank you for supporting 24Hour Journal in 2022.

2022 was the inaugural year of 24Hour Journal, and we covered many topics, from personal finance to economic cycles to company analysis to self-development. Our most popular posts include:

  • Black Friday Culture in Czechia vs US

24Hour Journal
Black Friday Culture in Czechia vs United States
Black Friday, known as the start of the Christmas shopping season, has come around the corner, bringing the best deals and promotions to the table and saving money for millions of shoppers around the world. In 2022, Black Friday is not only dedicated to one particular Friday (November 25). Instead, it is an early bird this season. From the first dates of…
Read more
2 months ago · Sofia Chesnokova
  • The Macro Headwinds and Tailwinds of Winter Travel

24Hour Journal
The Macro Headwinds and Tailwinds of Winter Travel
The significant economic downturn and high prices of essential products, including food, are today's reality. The reality where people save money to stay warm this winter, see loved ones on Christmas break and travel during the upcoming holidays. The reality where people cut their spending on leisure and spare time. The reality where expenses become unb…
Read more
3 months ago · Sofia Chesnokova
  • Talking Money in a Relationship

24Hour Journal
Talking Money in a Relationship
Misunderstandings or fights can occur when couples don't know how to talk about money. My boyfriend and I got into some of the biggest fights of our lives when we were trying to decide how much each of us should give for our monthly groceries, which is embarrassing, but everyone has to start somewhere…
Read more
3 months ago · Anna Rubešová
  • Three Lessons Investing Taught Me about Money

24Hour Journal
Three Lessons Investing Taught Me About Money
Regardless of how many years you've been investing, there's always more to learn. What's even more interesting about this "learning process" are the lessons investing teaches about money. Having made my first investment in January of this year I want to share the top three lessons investing has taught me about money…
Read more
4 months ago · Anna Rubešová
  • Revolut’s Latest and Most Important Investing Feature

24Hour Journal
Revolut's Latest and Most Important Investing Feature
Watch now (4 min) | A question that any investor always asks of any investment is what is the risk? What is the risk of investing in a startup company? What is the risk of investing in real estate? What is the risk of investing in cryptocurrency? In this post, let’s explore how investors understand and calculate risk and how this relates to Revolut’s latest feature…
Read more
4 months ago · Dennis Wisco

The initial concept of 24Hour Journal was to serve as the media newsletter of 24Hour Investing, the online course. My hypothesis was that not everyone would jump head-first into a personal investing course, but evergreen content about personal investing would drive motivation to improve individual finances and future wealth. 

Furthermore, at its most micro level, the niche focus of 24Hour Journal is to see the world of personal investing through the eyes of a freelancer in the Czech Republic. As someone who has sat in the back row for the last ten years observing the economy and entrepreneurial culture of the Czech Republic, I can unequivocally say two things. First, a lack of economic opportunity exists in a country of 10 million, where the three primary exports are cars, beer, and crystals. Second, the creative spirit that fuels entrepreneurship is bubbling but still anemic. Conclusively, the concept of risk is understood to be either too high or not comprehendible. But all is not lost. 

At the heart of investing is taking calculated risks. Calculated means measurable, and there exists a finite amount of calculated risk to assess in each investment scenario. One card game I love to play is Texas Hold’em because there are two levels to the game. The first is to play the hierarchy of cards (two pairs beat a pair, a flush beats a straight, four of a kind beats a full house), and the second is to play the player through strategic bets. With each new set of cards dealt and each player checking, raising, or folding, there is a calculated risk of winning or losing each hand.

A decision-making model I created that can apply to Texas Hold’em as well as investing is the Avokado Decision Tree (ADT). ADT is a pattern for making good financial decisions. First, you save. Then, you invest. Finally, you be entrepreneurial. ADT follows classic economic theory, but when applied to financial decisions (to which there are many), it looks like this:

To learn more about the Avokado Decision Tree, consider signing up at 24hourinvesting.cz.

Looking ahead to 2023, the team at 24Hour Journal will continue to tell the stories of money, business, and investing. Our slogan — Turning a digital nomad into a Monaco millionaire — is a metaphor for the freelancer existing in a country with few economic opportunities, but by igniting the entrepreneurial spirit in the freelancer, a prosperous and exclusive future awaits.

If you would like to support 24Hour Journal and access our exclusive content in 2023, consider upgrading to an annual subscription. Or if you are more serious about investing in the US stock market, then become a student at 24HourInvesting.cz.

Lastly, the greatest support of our work is to share 24Hour Journal with your friends and family.

We look forward to serving your personal investment needs in 2023 and wish you success and nothing less.

Dennis Wisco
Founder, 24Hour Journal

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2023 Letter from the Founder
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