Category: Misc.

10 Essential Financial Rules of Thumb

“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,…

Money and Spirituality: Is Money Really the Root of All Evil?

The Hindu holy man Swami Gnanmuni is the administrator of the magnificent Swaminarayan Akshardham temple in New Delhi, India. As such, he has taken a vow of absolute poverty.  His material possessions consist solely of two robes, some prayer beads, and a wooden bowl.   Gnanmuni took a rather unconventional path to reach this position.…

The Secret Millionaires Club: Warren Buffett Becomes a Cartoon of Himself to Teach Kids About Business and Money

After you get your own finances in order, teaching your children basic financial skills is one of the most important things you can do. I agree with Andrew Tobias, who stated the following in his book The Only Investment Guide You’ll Ever Need:  “I’m keenly aware that they are your kids, not mine, so I…