Posts filed under “Really, really bad calls”
My Sunday Washington Post Business Section column is out. This morning, we look at the idea of putting all if the financial advice anyone needs on an 4×6 index card — the twist is to invert it, via some really bad advice.
Both the print and online versions had the Twitter friendly headline How to ruin your financial life, #badadvice. This got lots of pickup when Tweeted, and I was curious how it might play out as a column.
Here’s an excerpt:
“Sometimes people need a bit more to keep them on the path to financial security — the sort of thing that lands like a two-by-four to the head, if only to a) grab their limited attention and b) make them focus on what really matters. That index-card trick certainly inspired people to rethink the virtues of simple, basic financial advice.
This week I am going to shamelessly steal the idea of offering advice so simple it fits on an index card, with my own twist: I will offer you really awful investing advice.”
It turned out to be rather fun — go check the whole thing.
How to ruin your financial life, #badadvice
Washington Post, September 13 2015
Astonishing: Trump understates his early wealth as much as he overstates his present wealth. He says when he started out he was worth “about $200,000” but he’s just burnishing his brand. A son of a real estate mogul, he’s in no position to spin a “rags to riches” yarn. By saying he was worth $200,000…Read More
Each year, I do my best to avoid writing anything new about September 11th. Instead, I will just point you to my experiences that day (which I wrote up the evening of 9/11). I was the Market Strategist for a firm headquartered at 2 WTC, offices on the 29th floor. I was fortunate to be in…Read More
In a move that can only mean a presidential election campaign is upon us, the Justice Department said it is finally going to pursue individual white-collar criminals. As the New York Times reported, the Justice Department “issued new policies on Wednesday that prioritize the prosecution of individual employees – not just their companies – and put pressure on corporations to…Read More
At the risk of overstating the obvious, there are important differences between traders and investors. Their timelines differ, as do their goals, preferred assets and methods. Yet some of what I have been hearing from members of each group suggests they themselves can sometimes become confused about these dissimilarities. Blame the recent market volatility for…Read More
To save myself from answering this question repeatedly, these are the thoughts I have had about Trump since he became a presidential candidate, which were partly expressed in a Politico article over a month ago. First of all, I think his support is firm and shows no sign of diminishing. He has already weathered storms…Read More
My Sunday Washington Post Business Section column is out. This morning, we follow up a June column that advised taking advantage of markets at all time highs to clean up your portfolios. This time out, we look at the market turmoil as a reminder, and the snapback rally as an opportunity. The print version…Read More
FFF: Hurricane Katrina 10th Anniversary: Aug. 29, 2015 CENSUS, July 29, 2015 Release Number: CB15-FF.16 JULY 29, 2015 — Hurricane Katrina is the costliest U.S. hurricane on record, and the deadliest to strike our nation since 1928. After initially making U.S. landfall on Aug. 25, 2005, in South Florida as a Category 1, it moved into…Read More
@TBPInvictus here. [File under: Petard, hoist on one's own] Earlier this month, AEI “scholar” Mark Perry was spotted using a dubious metric regarding minimum wage. Given the point his ideology was trying (apparently desperately) to prove, Perry proclaimed Seattle’s newly-hiked minimum wage a failure: As evidence to support his claim, Perry showed the following chart:…Read More
I am reminded how utterly worthless as a market observer/financial adviser Suze Orman is in this series of tweets. Its simply amazing how much terrible advice and lack of comprehension people can reveal in a mere 140 characters. “Demands for low rates begin as the financial class panics” Hat tip: Vulgar Trader