Saturday, September 27, 2008
Lieber's feature is worth the read. He shows real advisors in a light neither the newspapers nor the talking heads know anything about, maybe because it doesn't sell advertisements. Growing money is a process that doesn't happen overnight, it takes years and decades, not days. Check the article out here.
Most of you reading this post can take comfort in the reality that time on your side is the best insurance policy against volatility and permanent loss of capital. Some of you can't, maybe time isn't on you side. No psychology sheepskins here, just authentic, wise, and caring people, alumni of the bear markets, the emergency room, and the trenches of real life.
If anybody knows of any other articles about financial advisors serving as financial therapists, please leave leave a comment or drop us a line.
Friday, September 26, 2008
Justin here. One of the blogs I have set up in my Google Reader is Freakonomics at the New York Times. They follow all the cardinal rules of blogging: short, funny, plenty of pictures, frequent but not too frequent posts.
A few weeks ago they asked readers to submit entries into an economic haiku contest (9th grade english refresher: poem with 3 lines each containing 5, 7, and 5 syllables in each respective line.) They had over 300 entries, but see the final six here.
I submitted the following haiku in honor of Jon's (his name at work) aka my Dad's (name on the weekend) 58th birthday today:
You can get one, maybe two
But never all three.
If my poem doesn't make sense, don't feel too bad; it's only because "Speed Price or Quality" wasn't said to you at least once per day as a kid. Like sitting at a slow gas pump because they are selling it for $0.05 and all the pumps are being used. Or when a fast (yet expensive) car would zoom by us on the road. Or when our pizza (fast and inexpensive) was delivered only partially cooked.
I carried on the tradition. Millie has always shopped at Wal-Mart, and when she comes home after waiting in the checkout line for 45 minutes, she says "Speed, Price or Quality" through her teeth. That was, of course, until the quality started to go south, and she decided it wasn't worth it to just get "Price". So she started shopping at Harris Teeter where she gained speed and quality, yet gave up price. And then she started clipping coupons, thus giving up speed and gaining back some price . . . and on and on the endless pursuit of all three.
Fascinating how that works.
The closest product I've found that has all three is Pastabilities, a restaurant in Greensboro with the best bread and pasta in town, fast service, wonderful ambiance, and a dinner for two with tip is under $20. Of course, usually when you find all three, prices go up, so get it while you can!
Thursday, September 25, 2008
Justin here. I tuned in last night to watch the President address the nation about our financial crisis. I was impressed with the way he laid out the problem and its causes, clarified the difference between a "bailout" and an "investment", and explored the consequences of not doing anything.
He didn't say anything funny as in the past (like "Americans are working hard to put food on their families") but it was a great address none the less.
For anyone wanting a recap, it's well worth your next 12 minutes. Take caution though: The "If We Don't Do This" Scenario isn't for the faint of heart!
Thursday, September 18, 2008
Jonathan here. Having just talked with his friend in Manhattan, Dick Barron, business reporter at the Greensboro-News Record, writes, in his BizBytes newsletter (click here, follow instructions to subscribe to BizBytes)
- "As one of my friends in Manhattan wrote today on [his] Twitter [page]: "Just walked to Wall Street for a meeting and back. The mood on the street is weird. Everyone looks weak, frightened and angry, like on 9/11" [emphasis mine].
- “Draw them in with the prospect of gain. Take them by confusion. Use anger to throw them into disarray."
- Investors have been drawn in with the prospect of gain.
- Investors have been taken by confusion.
- Investors have been thrown into disarray.
You need allies in your war. When the News-Record called us during Monday's 504 point drop in the Dow, we said investors needed to "take a deep breath," and we explained why we didn't need to "stay glued to the TV for the latest headline." Click here to read the article.
Monday, September 15, 2008
Consultant with United Airlines
Director of Product Development with LinkedIn
Retired CMDR U.S. Navy
Another quant with Bank of America
Sales effectiveness coach in Paris
Resident at the Center for Future Banking
Professor with Duke University, the author
Scientist at LinkedIn
Health and Disability Speaker
Director of Security and Special Ops
Software Architect with Bluestreak
Principal Product Manager with eBay
Senior Training Specialist for USDA
Lead Business Analyst with Ocwen