Three Levels of Financial Literacy

Components of Literacy based on the works of Ruqaiya Hasa.

1.????Recognition Literacy – passive without playing an active part.

2.????Action Literacy – successful participation in society.

3.????Reflection Literacy – producing knowledge of improved methods, long-term goals over short-sighted goals, self-control, and the centrality of the other in our very survival as human beings.

“Grammar is not about grammaticality.?It is about elements of language functioning as a resource for meaning…the power of reflection on how meanings are transacted in their community.”

Finance is not about financiacality.?It is about elements of finance functioning as a resource for meaning. …the power of reflection on how meanings are transacted in their community.

“Language and Education: Learning and Teaching in Society”, Ruqaiya Hasa

“Quality companies, those with characteristics like sustainable revenue, low debt, and adept management, continued to outperform more speculative names.”

“we expect that higher quality companies, which we favor, should continue faring better than the broad market.”

-????????Q2 2022 Quarterly Investment Commentary – Fenimore Asset Management

William Morris regarded study and practice as inseparable and had to acquire a great deal of his knowledge and skills from books because he was operating in a realm that was more advanced than current society at that time.?He learned from ancient civilizations from all around the entire world about how to create the color dyes and how to create the tapestries with the proper structures and proper extensions.?His constant interplay of study and practice made him the authority of the decorative arts with an obsessive, fanatical focus on quality.?He viewed anything that was shoddy or vague as his antithesis.

“The aim should be to combine clearness of form and firmness of structure with the mystery which comes of abundance and richness of detail…Do not introduce any lines or objects which cannot be explained by the structure of the pattern…to prevent eye wearying…Above all things, avoid vagueness, run any risk of failure rather than involve yourself in a tangle of poor weak lines that people can’t make out.?Definite form bounded by firm outline is a necessity…Rational growth is necessary to all patterns…Take heed in this growth that each member of it be strong and crisp…Outlandishness is a snare.” – William Morris

“The Morris Firm fought shoddy from start to finish.?His steadfast refusal to compromise the standards of his art became famous.”?– E.P. Thompson