Some of my reading from last week:
- Sam Stovall: “Since 1950 we have had 48 pullbacks – meaning declines of 5 – 10%. We’ve had 18 corrections – meaning 10- 20%, and 8 bear markets. At the worst on average we end up getting back to normal in about 3 1/2 years. But people just don’t want to wait that long and they let fear overtake their emotions.”
- How much does a beer cost in Zimbabwe?
- “I cannot believe how a family of seven with children ages 10 through 21 are able to pull off living on an annual budget of $35,000.” Read more at 8 Lessons I Learned from the Cheapest Family in the Nation. Hands-down, the best book on this is The Millionaire Next Door.
- The sky is falling! Predictions for 2008 that are alarmist and have no specifics. Note the last paragraphs where he refuses to give specific predictions. Also (I call this a Kooky Alert), notice how Chicken Little people who predict doom and gloom always argue for the gold standard.
- What to do if you receive a large windfall (and what others did). Here’s what I do.
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