April 27, 2015

The Richest Man in Town by W. Randall Jones

The Richest Man in Town by W. Randall Jones

The Richest Man in Town - The Twelve Commandments of Wealth by W. Randall Jones, the founder of Worth Magazine, is one of the great business books I've read this year.  It profiles some of America's most successful self-made super-rich, focusing on the richest person in towns throughout the United States, offering insights into how they made their money and their advice for someone who wants to follow on the same path. The book offers some unique insights, such as explaining that a vast … [Read more...]

The Secret World of Brooks Brothers

Growing up in relatively modest circumstances, I had no idea how different clothes shopping was for men once they became successful.  Honestly, I never thought much about it but the assumption was that in terms of logistics, it would be just like shopping at Wal-Mart only with better surroundings, better service, higher quality and higher price tags.  You know, you walk into a Neiman Marcus or a Saks, look around at the merchandise, and then pay for it at a register if you were satisfied. I was … [Read more...]

Pew Research Center Completes Massive Study of Millennial Generation

Marriage Ages Rising by Generation

The highly revered Pew Research Center has completed one of the most extensive studies it has ever undertaken.  It focuses on the so-called Millennial Generation, which consists of those who are currently 18-28 years old, and contrasts them with their parents, grandparents, and great grandparents on a wide range of economic, spiritual, social and cultural factors. This study includes data on everything from the total percentage points that believe the Bible is the literal word of God to the … [Read more...]

Have You Noticed … (This is an Honest Question to Friends, Family and Readers)

Question Mark

This is an honest question to which I'd like an honest answer ... have you noticed that the people who seem angry all the time about everything, spewing nonsense about America being taken over and the world falling apart always look like this: White Middle or lower class 50 to 65 years old Struggling economically; not doing nearly as well as they were 10 years ago Most are not college graduates (some are but they are a minority) Protestant Married but divorced at least … [Read more...]

Why the iPhone Will Continue to Dominate the Smart Phone Market Even if It Doesn’t Have the Biggest Screen or Fastest Processor

iPhone Versus Other Smart Phones

It All Comes Down to the Existing Investment Consumers Have Made in their iTunes Library of Music, Movies, Games, Apps, and Television Shows It seems that a handful of tech folks and business bloggers - and, in fact, even my own brother - don't seem to understand that the reason people choose the iPhone over other smart phones, even if those other smart phones have bigger screens, more memory, and non-restricted applications, is because tens of millions of consumers now have a vested … [Read more...]

I’m Working on a New Book

Finance Book

I turn down several book contracts a year and have for probably the past 5 or 6 years.  Despite having one of the largest investing audiences online, other than my Penguin book contract in 2006, I avoid the commitments because I don't like being tied to deadlines (even though I tend to work faster than most other people - it's just something about having control over my own time). However, I have been working on some ideas for a series of books that cover everything from finance (how to … [Read more...]

The Success of the iPad Will Come Down to App Development

The iBook Store in iPad

Five days or so into my experience with the iPad and it continues to exceed expectations (by far). I've spent somewhere between $120 and $150 in the Apple iTunes App store, which compared to my previous purchases of apps (read: $0), means there is more cash flowing into Steve Jobs' coffers. The overwhelming indication continues to be that the success of the iPad will come down to the applications that software companies develop for it. We bought our iPads for business purposes. As an … [Read more...]

The Best Habit I Have …

More investing books and business books from Amazon

Another batch of books arrived from Amazon.com following my book buying binge at Borders the other night.  That's typically how it goes, though ... I buy a few dozen books at a time, mostly in business, philosophy, psychology, investing, finance, history, and biography (all non-fiction - I'm not a big fiction reader). Early in my career, books were my biggest expense.  When my first business was making only $500 a month in profit, I probably spent $250 of it on buying books to learn. Today, I … [Read more...]

It Was an Amazingly Productive Day

We are having an amazingly productive day.  Thus far, we have: Paid a ton of bills for one of the businesses. Submitted the final tax documents to the accounting firm that handles our business and personal filings. Had lunch / dinner at Panera Bread with Aaron. Went to Michael's and got a bunch of our Carl Barks rare lithographs framed for 50% off! Went on a book run to Borders to pick up a bunch of business, psychology, and biography books. Spent a few hours talking politics with … [Read more...]

People Who Are Drowning in Student Loan Debt

Student Loan Debt information

Victims of the Student Loan Industry or Irresponsible Borrowers? I was reading a site called Student Loan Justice as well as a piece at the Huffington Post where people are talking about their "overwhelming" student loan debt that is - wait for it - $15,000 or $30,000.  Basically, less than the value of a car.  Or a couple both of whom smoke a pack of cigarettes each day for five to ten years. Or 4 to 8 months of pre-tax income for the average American household. Rational, full-grown legal a … [Read more...]