Investing
Don’t Pay for the Overconfidence of Your Investment Advisors
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•“Overconfidence is a very serious problem. If you don’t think it affects you, that’s probably because you are overconfident.” – Carl Richards In late 2007 legendary investor Warren Buffett made a $1,000,000 bet with Protégé Partners, LLC with the winnings going to charity. The terms of the wager are as follows: “Over a ten-year period…
Misc.
Weekly Money Quote (March 14, 2016)
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•Misc., Smartest Things Ever Said About Money
Money Funnies: 15 Humorous Money Quotes and the Serious Lessons they Teach
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•Misc.
Weekly Money Quote (March 7, 2016)
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•Investing, Money Parables
Try this Survival Tactic the Next Time the Market Throws a Tantrum
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•“The primary cause of [investing] failure is that [people] pay too much attention to what the market is doing currently.” – Benjamin Graham In a scene guaranteed to evoke empathy in every parent or grandparent with a heart and a memory, a grandfather was in a grocery store checkout line with his toddler grandson when the boy resorted to the time-tested tactic of…
Investing
Weekly Money Quote (February 29, 2016)
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•Budgeting, Debt
Great Advice About Cars From a Popular New Orleans Rapper
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•I don’t usually get my financial advice from rappers, but Dee-1, a popular New Orleans rapper, has it figured out when it comes to cars. As I wrote about in an earlier post, spending too much on a car is one of the quickest ways to destroy your chance for financial success. Cars don’t define us, and most of us spend far too much money trying to impress others. Save some money and concentrate on things that really matter.
Here is a great video with Dee-1 talking about the car he drives, and why he doesn’t upgrade. Don’t let the “Parental Advisory” at the start stop you from watching. I didn’t find any reason for it in the video. Great advice and very entertaining:
Misc., Smartest Things Ever Said About Money
10 Essential Financial Rules of Thumb
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•“Heuristics are simplified rules of thumb that make things simple and easy to implement. But their main advantage is that the user knows that they are not perfect, just expedient, and is therefore less fooled by their powers. They become dangerous when we forget that.” – Nassim Nicholas Taleb In the spirit of Taleb’s quote,…