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.
So what’s the solution?
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Accelerating Technology, Dreams Come True, Great Books, Investing, Money, Online Investing AI, Success, US Economy
economy, Investing, jobs, Money, pensions, social security, Success, technology, the wealth singularity, tv
Home of Grace Groner, secret millionaire
It’s hard to be a buy and hold investor in this economic condition. We’ve seen major companies get bailed out, or evaporate like a pool of water on a hot summer day.
But think what it was like to be a buy-and-holder in 1935, the depths of the Great Depression. That’s when Grace Groner spent $180 on three shares of her employer’s stock. Over the next seven decades, those shares in Abbot Laboratories split many times and she reinvested the dividends, too.
And guess how much she ended up with when she passed away in January?
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Investing, Money, Online Investing AI, Success, US Economy
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Stafan Baudy @ Flickr
Personal finance is really about asking the right questions.
Should you buy and hold? Should you sell and walk away?
How much should you save?
How much should you spend?
What’s the best investment?
Unfortunately, I don’t have the answers to all those questions–but a lot of smart bloggers and columnists do. And I’ll let them do the talking in this week’s edition of Weekly Wisdom.
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Business Strategy, Internet, Investing, Money, Online Investing AI, Success
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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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Investing, Money
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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.
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Great Books, Investing, Money, US Economy
currency, debt, gold, government, Investing, Money, psychology, rich dad, silver, Success
Automated Trading systems have a future in finance and we believe it’s a big future.
It’s already well underway. Automated Trading systems are managing billions of dollars worth of assets and making billions of dollars worth of trades for large financial concerns and hedge funds.
Eventually, these advanced trading systems will work their way into the hands of more individual traders and investors.
One major hurdle remains: companies can spend big bucks testing their systems. We have to trust the developers and, frankly, there are a lot of Automated Trading charlatans in the business.
To minimize the likelihood that you’re not being hosed by an scam artist posing as an Automated Trading developer, here are some due diligence tips.
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Accelerating Technology, Automated Trading, Investing, Money, Online Investing AI
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Not to get into any big political debates before a nice harmless list of links to smart thoughts and ideas, but let’s just say the jury’s out on the notion of wealth redistribution.
But one thing that’s certain: redistributing wisdom, especially personal finance wisdom is a good thing for society.
We now have the most effective way to distribute wisdom ever–the internet. In this week’s Weekly Wisdom, we pull together the best links we could find on personal finance and personal growth.
Enjoy, comrades!
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Business Strategy, Investing, Money, Online Investing AI, Success, US Economy
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The story of the 21st century will be the story of using technology to create leverage. Leverage is often used to describe weight and money. In the 20th century, leverage referred to massive machines that moved rocks, laid concrete, and shaped steel.
But there are other forms of leverage that technology can create.
By using technology to automate aspects of your life, you can create massive leverage. You’re using less time, while accomplishing more work.
Automated Trading is an example of how technology is creating leverage. In fact, Automated Trading creates four levels of leverage–four ways you can get more results out of the work you do.
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Online Investing AI
auto trading, Automated Trading, future, Investing, leverage, Money, wealth, wealth technology
You stick your head above the crowd and attract attention and sometimes somebody will throw a rock at you. That’s the territory. You buy the land, you get the Indians.
–David Lee Roth
Entrepreneurs and investors are a little different from most of the quietly desperate masses. They have chosen a path that doesn’t just include failure–the path requires it.
Investors have to make bad investment decisions. Traders can’t have all winning trades. Inventors have flops. Entrepreneurs face the failure of their business experiments all the time.
Luckily, we have the examples of some of the world’s greatest failures to model our responses to these setbacks. People like Thomas Edison, the Wright Brothers, and David Lee Roth.
(David Lee Roth? Yeah. I’ll get to that.)
These great failures have a few lessons that we can apply to our own entrepreneurial endeavors.
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Accelerating Technology, Automated Trading, Dreams Come True, Online Investing AI, Success
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Picture courtesy banspy @ Flickr
Trading and gambling have been metaphorically tied together forever.
Traders talk about making a bet. They say they hit the jackpot, or they left their money on the table.
Trading and gambling, after all, do share commonalities–risk, returns, a certain element of randomness, and position sizing–to name a few.
But the comparisons, or lessons, don’t stop there.
According to a new study from Cornell University, investors and traders can all learn from a slightly contrarian gambling strategy. The study makes the case that online poker players who win more hands, end up losing more money.
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Accelerating Technology, Automated Trading, Business Strategy, Dreams Come True, Internet, Investing, Money, Online Investing AI, Success, US Economy
discipline, gambling, Investing, Money, money management, poker, risk, wealth
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.
