November 15th, 2005
I was in New York for a few days, so back to regular posting.
I ran across this blog entry yesterday, which is pretty thought-provoking:
Ramit Sethi's otherwise-great site I Will Teach You to Be Rich is a classic example of rich-person thinking; he assumes that people in their 20s can afford to take risks in their investments, because if ...
October 31st, 2005
This is a guest post by Michael Squier.
In the next 5 minutes, I will save you tens of thousands of dollars.
This should be a no brainier, but I’m sure many of you will be disappointed when you find that I’m not talking about a stock pick, or a magic money mutual fund. It’s something that ...
September 29th, 2005
From Russel Roberts, professor of economics at George Mason University (quoted in the WSJ):
Another airplane passenger story. I'm talking to the woman next to me and she asks me what I do. When I tell her I'm an economist, she says, "Too bad my husband isn't with me today, he'd love to talk to you." "Why's that?" I ask. "...
September 26th, 2005
Everybody knows a cheap person, and probably hates them. But I think we often mislabel frugal people cheap. These are just my opinions, but here's what I think differentiates the two:
Cheap people care about the cost of something.
Frugal people care about the value of something.
Cheap people try to get the lowest price on everything.
Frugal people try ...
September 22nd, 2005
There seems to be this belief among a lot of people that the world is rational and that bad ideas won't last long because they'll be extinguished by good ones.
I think this leaves out one big thing: incompetence. And, sometimes, a lack of experience.
You'll hear people say "That was a stupid commercial" and then some smartass will reply, "...
September 9th, 2005
My oh my, I have heard this idea many times. I was giving my finance talk at Intel last month, and afterwards, one of the employees and I started chatting. He told me about his uncle, who had built some kind of technology firm and sold it for $100 million. Obviously a smart guy, no doubt about it. But then ...