Some good counsel here regarding striking a suitable balance between frozen inaction and panicked frenzy.
Saturday, March 7, 2009
Life | Asking Doctors Tough Questions | WSJ
After my own little escapade at the local version of "Kingdom Hospital", I'm going to pay a lot more attention to articles like this one.
Money | How Wrong Can You Be | NAR
You've gotta laugh at these guys ... talk about drinking their own bathwater until they call it champagne!
Friday, March 6, 2009
Wednesday, March 4, 2009
Work | Selling Expertise on the Internet | WSJ
An interesting article about another way to raise a little $$ via the Internet. I especially like the "Mechanical Turk" www.mturk.com approach.
Monday, March 2, 2009
Sunday, March 1, 2009
Money | Inside the Meltdown | Frontline
For a pretty comprehensive video summary of when/how the wheels started to come off the US/global financial markets, watch the PBS Frontline show from early Feb 2008 at this link. The consequences of choosing moral hazard over systemic risk became evident when Lehman Brothers was allowed to fail. Unfortunately, even a small hole can sink a large ship. Something to keep in mind going forward.
Money | November 2007 Interview with Warren Buffett | CNBC
Very interesting to re-read this November 2007 CNBC interview of Warren Buffett from the near-peak in the equity markets. Most of Warren Buffet's "advice to young people" is more useful than ever. For the near term, I'm expecting thrift to be the winning strategy.
1. He bought his first share of stock at age 11 and he now regrets that he started too late!
2. He bought a small farm at age 14 with savings from delivering newspapers.
3. He still lives in the same, small 3-bedroom house in midtown Omaha that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4. He drives his own car everywhere and does not have a driver or security people around him.
5. He never travels by private jet, although he owns the world's largest private jet company.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis. He has given his CEO's only two rule! s. Rule number 1: Do not lose any of your shareholder's money. Rule number 2: Do not forget rule number 1.
7. He does not socialize with the high society crowd. His pastime after he gets home is to make himself some popcorn and watch television.
8. Bill Gates, the world's richest man, met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting for only a half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
9. Warren Buffet does not carry a cell phone, nor have a computer on his desk.
His advice to young people: 'Stay away from credit cards and invest in yourself and remember:
A. Money doesn't create man, but it is the man who created money.
B. Live your life as simple as you are.
C. Don't do what others say. Just listen to them, but do what makes you feel good.
D. Don't go on brand name. Wear those things in which you feel comfortable.
E. Don't waste your money on unnecessary things. Spend on those who really are in need.
F. After all, it's your life. Why give others the chance to rule your life?'
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