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Weekly Wisdom: The Upside Of Getting Fired

We had some good news on the employment front this week. Sorta.

It looks like the rate of people losing their jobs has slowed. It’s only sorta bad because, if you’re one of those people who lost a job–no matter how slow the rate is–it’s still a scary time. But, once the shock has worn off, the newly jobless often say the moment they lost their position was the best moment of their lives.

They learned to stand on their own. They learned to trust themselves. They opened up the window to new skills and new ways to make money.

If you’re one of those people, here’s a week’s worth of articles and posts to help you through this transition period.

Losing your job isn’t the end of the world; it may be the beginning of a new one, according to this video post on Please Feed The Animals. My Supercharged Life also has a post on I Am Getting Fired: Looking At The Bright Side Of A Bad Situation.

Want to quite your job? Become rich? Start a web site? Dance the tango? The Illuminated Mind says the worst thing you can say to yourself is: Not Yet.

Think becoming wealthy, being a web site owner, or dancing the tango is impossible? Read the Four-Hour Work Week blog’s post on Dean Kamen and his view that nothing’s impossible.

Most times unemployment means irregular income. Here’s a post from Get Rich Slowly that offers you tips on How To Budget On An Irregular Income. And, check out Debt Free Adventure to learn some money-saving grocery hacks.

One of the best ways to avoid unemployment is to place yourself in a position where you don’t need a job. Fiscal Geek advises you how to Take The Small Wins In Your Life And Your Money.

If you’re ready to move on to investing or trading for a living,  Weakonomics says that markets aren’t rational, they just pretend to be. That’s lousy news if you’re an undisciplined, emotional investor and a godsend to smart traders with access to the right technology.

Five Cent Nickle teaches ways to navigate the recession.

If you decided that some parts of the  unemployment landscape look pretty–for instance, the lack of cubicle–here are five questions to ask before you start an online business by Rate Your Web Hosting.com.

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  1. August 10th, 2009 at 02:52 | #1

    Weakonomics says that markets aren’t rational, they just pretend to be. That’s lousy news if you’re an undisciplined, emotional investor and a godsend to smart traders with access to the right technology.

    This is Rob Bennett. I’m the fellow who wrote the guest blog entry about the irrationality of the market that appeared at the Weakonomics blog.

    I just wanted to point out that there is no need to have sophisticated technology to invest rationally in irrational markets. All that you need to do is to pay attention to price when buying stocks just as you do when buying anything else. When the price of stocks is insanely high (as it was from 1996 through 2008), you want to be going with a far lower stock allocation than what you would go with when prices are moderate or low.

    The average person can retire five years sooner just by switching from the Passive Investing model to the Rational Investing model. Passive is pushed heavily by The Stock-Selling Industry because naturally they want you to buy stocks regardless of price. There is obviously no benefit to the investor that follows from adopting a Passive approach (an approach in which you stick with the same stock allocation regardless of price).

    Rob

  2. August 10th, 2009 at 05:28 | #2

    Hi Rob–
    Thanks for the comment and clarification.

  3. Pop of three
    August 25th, 2009 at 19:27 | #3

    “Passive is pushed heavily by The Stock-Selling Industry because naturally they want you to buy stocks regardless of price.”

    Can you provide any evidence in support of this frankly ridiculous theory?

  4. August 26th, 2009 at 01:27 | #4

    Hi Pop–
    I’m not sure where I wrote that in this post, but I can point out the frankly ridiculous stock price estimates that brokers and analysts gave to dotcom companies. I can also point out the analysts who inflated IPOs for companies that their investment banks fronted. These are two pieces of evidence where the stock-selling industry pushed stocks on the public regardless of price.

  5. August 26th, 2009 at 04:35 | #5

    Can you provide any evidence in support of this frankly ridiculous theory?

    Have you ever heard the phrase “timing doesn’t work”?

    Have you given thought to what that phrase means?

    It means that you shouldn’t give consideration to the price of the stocks you buy, you should buy regardless of price.

    I think it would be fair to say that just about any industry would be happy to spend money on a marketing campaign that would persuade large numbers of people to buy what they have to sell regardless of the price charged for it.

    Are you able to imagine any other possible justification for this claim? Is there any reason to believe that it is true that price doesn’t matter when buying stocks?

    Lots of people have looked at the historical stock-return data to check whether there was ever a time when this claim checked out. There has never been such a time. Going back as far as we have records, the price you pay for the stocks you buy has always been the single biggest factor that determines your long-term return.

    But I think it would be fair to say that this marketing slogan, which has been reiterated millions of times by the “experts” who have ties to The Stock-Selling Industry, persuaded lots of people to buy lots of stocks at absurdly inflation prices.

    Rob

  1. August 9th, 2009 at 11:00 | #1