Last night I was watching the news (a terrible habit I need to get rid of!) and there was another story about how bad the economy is and how hard it is to find a job. I always have the same reaction when people say they are looking for a job. It makes me wonder, “Who wants a job?”
Having a job for decades and retiring on a pension was a system that ended in the 1980’s. Since then, the economy has changed so rapidly that working in the same job for 20 years is nearly impossible. Besides that, the financial mismanagement of companies and the government has made pensions and social security unreliable.
Price bubbles have been going on since the invention of markets by humans thousands of years ago. However, most people are completely oblivious to how they work, and how to profit from them.
Price of Crude Oil Jan 2004 - Feb 2010
Bubbles are simply the expression of widespread desire to own an asset, regardless of price. As the price goes up, more people find out about it and buy. This pushes the price up further, and still more people find out about it. It is a virtuous cycle.
Last week, INO released a neat video about some technical indicators for gold. It’s a cute video and it is easy to understand, so I wanted to share it with you. You can see it on the INO site here.
There is one thing that is critical to keep in mind when looking at any indicator or argument for technical analysis, and this video is a perfect example. Due to the near infinite power of our minds, it is possible to see more in technical analysis than is really there.
After reading Rich Dad’s Guide to Investing In Gold and Silver last week, I did some research and thought about the whole concept of gold and sliver. It got me thinking about the value of precious metals, and some of the ideas that we just accept about money.
Consider this. When was the last time you paid for anything with a silver coin whose value was determined by the amount of silver in the coin? The answer is probably never. Because we don’t use silver or gold coins for exchange anymore. And, the reason is quite subtle. The government has replaced these coins with fiat currency such as dollars.
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Today I finished Rich Dad’s Advisors’ Guide to Investing In Gold and Silver, witten by Michael Maloney. I think it is a really great book. It’s not one of those crackpot hype books like so many others on the subject. It is a very interesting and thoughtful historical analysis of why the price of gold and silver could explode. In fact, it explains why gold could reach $100,000 per ounce and silver could exceed $1,000 per ounce.
It sounds crazy, but the author’s argument is very simple and backed up by historical example. He says that every time a government creates its own currency, the currency eventually collapses. And, often times it leads to the end of the government.
Shaun, the darling of the snowboarding industry, just won his second gold Olympic medal. It was pretty exciting to watch him fly through the air. It is also interesting to look at what he does to be so successful.
Shaun White Wins Gold for the Second Time
How did he do it? Was he born a snowboarder? Or is it the fact that he has his own private halfpipe that costs $500,000?
Google just released Buzz, sort of a souped up Twitter. It’s an awesome idea, and as usual, Google has refined an existing idea to make it better.
First it was search, and Google made its first billion by dominating the search engine market with a better service. Yahoo and a dozen other search engines have faded into the background with the success of Google’s search algorithm. Then it was GMail, the application that made web based email actually work well. Then Chrome, which is way faster than Firefox and I raved about in this post.
And now Buzz, which allows us to aggregate and communicate Tweet-like messages. And it goes farther by inlining images and creating more communication with less clicking. It also integrates with Twitter, Flickr, and Google Reader.
It’s been said that resourcefulness is the ultimate resource. I think that for companies, innovation is the ultimate resource. Especially after seeing this screencast from Gregg at Envy Labs on Dan Pink’s blog. It really got me thinking about how innovation creates success for companies.
How awesome is that! They created a cute and funny video that people see when they unsubscribe. I don’t know if it has really reduced the unsubscribe rate. But I wouldn’t be surprised if it has.
What else is awesome about the Punish Derrick video?
The Singularity is Near by Ray Kurzweil is the book that started it all. If you want to know about the future, it is the best book I've found. Absolutely fascinating.
Rich Dad Poor Dad by Robert Kiyosaki. This is one of the most popular personal finance books of all time. A must read for anyone who wants to become financially successful.
The Millionaire's Secrets is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
The One Minute Millionaire is a great book about how to become a millionaire. Written by Mark Victor Hansen and Robert G. Allen, this book combines an inspirational story with practical everyday skills.
The Art of Learning is the fascinating story of Josh Waitzkin, the world champion in both chess and Pushing Hands. His style is mesmerizing, and the strategies for learning are priceless.
The Alchemist is one of the best-selling and most inspirational books of all time. Anyone who has ever had a dream in life needs to read it. Perhaps my favorite book of all time.
Love is the Killer App is a powerful, step-by-step book about how to have a wonderful experience and spread love in any working environment. Think the office has to be a source of bad energy? Think again.
The 4-Hour Workweek is a powerful book full of strategies about how to get more done in less time. For anyone who is looking for leverage or wants to achieve success quickly, this book is absolutely invaluable.
Last night I was watching the news (a terrible habit I need to get rid of!) and there was another story about how bad the economy is and how hard it is to find a job. I always have the same reaction when people say they are looking for a job. It makes me wonder, “Who wants a job?”
last week, I did some research and thought about the whole concept of gold and sliver. It got me thinking about the value of precious metals, and some of the ideas that we just accept about money.
As a limited time promotion, we are giving away the first two chapters of The Wealth Singularity for free. What is the Wealth Singularity?
is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
