JLP from AllThingsFinancial recently interviewed Jonathan Clements, the personal-finance writer for the Wall Street Journal (and one of my favorites).
At one time paul getty was the richest man in the world. When someone saw a payphone in his london home they asked why the richest man in the world would need to charge his guests 10c a call. He said, A businessman needs to make a profit on every transaction, if one gets into the habit of losing money on a transaction it could be detrimental to his business practice.
Dont know if you check these old comments, but here's a shot.
I noticed that the book JC recommends that everyone reads in part 2 is "Winning the Loser's Game" by charles ellis. Reviews show that his main point in the book is that you can't beat the market and that investing in index funds is the way to go, btw, is also what JC says he practices.
From what I understand, an index fund is similar to a mutual fund, but I also remmeber you stating being in an investment post that very very few people actually make money from mutual funds. Perhaps it was money market accounts that I remember you talking about. Which is it? and what do you think about JC's and CE's opinion on this?
This is a blog on personal finance (banking, saving, budgeting, and investing) and personal entrepreneurship.
It's for students, recent graduates, and other young people.
I'm a recent graduate of Stanford, where I studied technology and psychology. Now I'm the co-founder & VP of Marketing for PBwiki, a wiki startup in Silicon Valley.
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