Art is a good investment?

Apparently so in some cases. Usually I hate art (that's because it all looks like garbage to me), but this article was pretty stunning: "In 1998, NYU business school professors Michael Moses and Jianping Mei began an unusual experiment. They would track every transaction involving objects that had sold more than once at auction at the major New York houses ...

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What does diversification really mean?

There are some things so entrenched in our culture that we never stop to think what they really mean. Let me direct you to one of the most striking examples in the last 10 years: The Backstreet Boys' hit, I Want It That Way. This god damn song is so catchy that, while we were all singing along and bopping ...

I totally blew my budget…now what?

Just got back from New York yesterday. I was there visiting friends, partying, and doing some business. I had some especially memorable times, including eating 10 slices of pizza in 4 days, getting utterly shut down by some women, and wondering how the hell my investment banking friends work until 1 AM EVERY DAY OF THE WEEK. Anyway, I also ...

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Read Warren Buffet’s letters

They are really good. He writes like a grandpa who happens to be really smart and fun. If you're new to investing, Warren Buffet is America's greatest investor (I once called him the Snoop Dogg of investing). He still eats at the same restaurant and drives an old truck. He runs a fund call Berkshire Hathaway and writes a great ...

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CNN Money’s “8 Credit Score Myths”

CNN Money has a great article called "8 credit score myths." (more…)

All about asset allocation

Sometimes I use the phrase "asset allocation" at cocktail parties to sound smart. The host, whose party I am crashing, usually looks at me, surprised, and asks me one question: "How did you get in here?" Then I leave, usually. Anyway, asset allocation is a fancy way of describing where you put your money (e.g., 50% in stocks, 20% ...