This may come as a shock to long-term readers, but I can be rather cynical at times. Dealing with the flotsam and jetsam of humanity for many a decade has taken its toll. There are some truly wonderful people in this world (and yes, I’m talking specifically about you), but there are also a lot […]
Stealing from Old People for Fun and Profit Read More »
Most experts agree that you should never, ever attempt to time the market. Mere mortals aren’t capable of identifying when the stock market will go up or down, so your best bet is just to stay invested in equities. Over the long term you’ll probably be just fine. Of course, some of the experts who
One Way to Time the Market Read More »
Other than a house, a car may be the most expensive item you buy. The gulf between the most and least expensive car is enormous. So how do you save money on a car purchase? Let us count the ways. But before we begin, I should explain my expectations for a car. A car, for
How to Save Money When Buying a Car Read More »
A million U.S. dollars certainly isn’t what it used to be. While the figure still does stand as an important milestone, it no longer implies fabulous wealth, with yachts, butlers, and quality healthcare. Thanks to inflation, “millionaire” now just means you’re doing OK. In fact, many millionaires in extremely expensive locations – think San Francisco,
Are You a Big Mac Millionaire? Read More »
I started business school early in the aughts. My class, as you would expect, was rather full of arrogant know-it-alls (not me and the missus, though – we were super cool). I distinctly remember one of my classmates holding court early on as everyone tried to impress each other with awesomeness. The conversation had turned
The Guinness In Ireland Tastes Exactly the Same Read More »
Let’s start by addressing your concerns. “Paul, thanks, but I think I’ve had my fill of musical instrument talk for, well, let’s say ‘forever’. I’ll see you next week.” And I’ll say, “Hold on there, pardner.” ‘Cause even though today is an alto-saxophone-themed adventure story, it is rich with broader financial lessons. I promise.
International Arbitrage: Saxophone Edition Read More »
Investing in individual stocks is risky. “Both large and small investors should stick with low-cost index funds.”1 Never get involved in a land war in Asia. You don’t need to convince me of these truths – I am a big fan of what index funds represent. I don’t have much of an “edge” to beat
The Case for Individual Stocks Read More »
Conventional wisdom says that index funds are the place to be, at least for most individual investors. Markets are (mostly) efficient. Little guys have almost no chance of beating the pros at picking stocks. So why not just stay away from individual stocks altogether and put everything in an index fund? What’s In An Index
The Shocking Truth About Index Funds Read More »
I don’t always gamble, but when I do, I prefer to play craps. It’s the most exciting and entertaining game in a casino, and it typically offers the best odds*. However, many folks are a bit intimidated by the rules and protocol, and they risk missing out on all of the fun. That’s where I
Investing Lessons from Playing Craps Read More »