The last time the stock market had such a terrible January-through-June performance, I was in junior high. The year was 1970. For me, that was a time of pimples, polyester clothes, bad hair, trying to impress girls, and Mrs. Lawrence’s English class. All not-so-fun experiences—a lot like investing is for most people right now. For […]
How the Economy is Like Junior High Read More »
Each July 4 we Americans throw a national party. We celebrate our unparalleled freedoms which are the envy of the world. Our more “famous” liberties—freedom of religion, freedom of speech, freedom of the press, etc.—are spelled out in the Constitution’s Bill of Rights. But perhaps the hidden genius of that document is that it laid
Our Most Overlooked Freedom? Read More »
In early October, 1871, a fire turned Chicago’s business district into a smoldering ash heap. Today, visitors to the Windy City marvel at a skyline of beautiful architecture. In late December, 2005, quarterback Drew Brees of the San Diego Chargers suffered a severe injury to his throwing shoulder. Many experts believed his NFL career was
When Everything Seems Bleak Read More »
I had hip surgery last week. Man, did that ever hurt! Beforehand, I researched the procedure, the surgeon, the health facility, and the outcomes of others who’d had the same surgery. What I didn’t focus on is the grueling rehab patients have to do after surgery. I didn’t think to ask, “How much pain will I
What Pain Can Do for Us Read More »
After two years of masking up and shutting down, we stir-crazy Americans are traveling again! Beaches are packed, Disney is bustling, and national parks and campgrounds are turning away visitors. Our renewed wanderlust means a reintroduction to a regular feature of road trips: potholes! We’ve all had the unpleasant experience of driving along and hitting
Five Financial Potholes (and How to Fix Them) Read More »
“We’ve never seen anything like this,” my friend whispered in an ominous tone. “Like what?” I asked. “This economy,” he continued. “You know, inflation. Debt. The stock market.” “You’re worried about the stock market?” I asked. “Aren’t you?” he responded. “Do you remember when COVID-19 first appeared?” I asked. “In late February 2020, the stock
What to Do When the Markets are in Turmoil Read More »
Back in the 1970s, an OPEC oil embargo sparked a period of hyperinflation in America. To clamp down on rising prices, Fed Chairman Paul Volcker raised interest rates. By 1981, you were lucky if you could find a home mortgage for less than 16%. Business loans were going for 25%. On the bright side, if
The Problem with Financial “Extrapolation” Read More »
“DOUBLE YOUR NEST EGG” the headline screamed. “Now’s the time to jump into cheap stocks, funds and real estate.” Bad timing for a magazine called “Smart Money.” This headline was on the cover of the October 2008 issue—immediately before an epic financial crisis and market meltdown. In early October 2008, the Dow Jones Industrial Average
Timing is Everything (but Predictable) Read More »
Legendary investor Warren Buffett once said, “Only when the tide goes out do you discover who’s been swimming naked.” This was the billionaire’s iconic way of saying that risky financial behaviors inevitably get exposed when economic conditions change dramatically. Unless you have been snoozing the last 6-8 months, you probably know the economy is changing.
The Problem with Swimming Naked Read More »
He had his eye on some land. “Daddy always said land was a smart investment. I think so too. They’re not making any more of that,” he said with a smile. “I could borrow the money,” he continued. “But I look at those amortization tables, and it kills me to see how much interest
Finances are More than Numbers Read More »
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