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Don’t Spend Money to Feel Better About Yourself

September 17, 2010 By 4 Comments
Emotional Shopping Leads to Debt

I happened to be reading a forum for venture capitalists and investment bankers and there was a section for people new to the industry who work in major financial centers such as New York. We're talking about first year analysts earning between $60,000 and $90,000 including signing bonuses, and, if they are lucky, a $50,000 to $100,000 bonus depending upon annual profits, living in a majorly expensive city, who probably have significant student loans. Some of the people were advocating that … [Read more...]

Filed Under: Saving Money Tagged With: , , , , ,

Memories: Freezing in a Pumpkin Patch

September 11, 2010 By Leave a Comment
Ellie Kelsey and Mark at the Pumpkin Patch

Last fall, my sister wanted the whole family to go with her to the pumpkin patch so my niece could experience it for the first time.  Unfortunately, she kept pushing it off until it was almost winter so the pumpkin patch was going to close.  This left the only available day for a visit in the middle of a massive cold freeze with bone-chilling winds. Not having time to get dressed, I happened to have on a pullover sweatshirt, American Eagle blue jeans, and a pair of Versace prescription … [Read more...]

Filed Under: My Life Tagged With: , , ,

The Secret World of Brooks Brothers

September 1, 2010 By Leave a Comment

Before I "arrived" as they say, 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 totally, … [Read more...]

Filed Under: Fashion, My Life, Saving Money Tagged With: , , , , , , , , , , ,

How to Solve the Trade Deficit – Part V

August 31, 2010 By Leave a Comment
Money Doesn't Actually Exist

There were a few questions that went beyond the scope of the trade deficit in the question Adam sent me, so I decided to wrap them up here, in a final article. If you want, you can read How to Solve the Trade Deficit Part I, Part II, Part III, and Part IV. You asked, "What starts the initial flow of money in an economy?" As I wrote a few days ago, money doesn't actually exist.  It is an idea - a concept we use as humans to describe an exchange mechanism to trade one thing we have for … [Read more...]

Filed Under: Economics Tagged With: , , , , , ,

The Final Third of the Year Begins!

August 18, 2010 By 1 Comment
Autumn and Winter

I'm really excited that we are heading into the back third of the year and the schools are back in session. Third and fourth quarter generate most of our revenue and sales.  I love being well dressed, wearing a cashmere Ralph Lauren coat, and going Christmas shopping for family at my favorite high-end department stores.  I love having steak dinners at Fleming's and Ruth's Chris.  I love contributing to my retirement accounts and pension plans.  I love counting that year's profits and … [Read more...]

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How to Marry a Millionaire – An Economic Update on the 1953 Film

August 15, 2010 By Leave a Comment
How to Marry a Millionaire

In 1953, a great movie starring Lauren Bacall, Bette Grable and Marilyn Monroe was released called How to Marry a Millionaire.  I got curious as to how much money it would take to equal the same net worth today so I did an inflation adjustment because I wanted to know how big their motivation was in the film. Turns out, someone who had $1 million in 1953 would have roughly $8 million today. That kind of asset base should generate cash dividends or interest of $34,000 per month without … [Read more...]

Filed Under: Economics, Movies Tagged With: , , , , , , , , , , , , , , , , ,

We’ve Taken Sides in the Johnny Weir v. Evan Lysacek War

May 3, 2010 By 1 Comment

Around the office, we discuss weighty issues - recent Supreme Court cases, appropriate regulation of derivatives, pricing of complex options trades, etc.  For the past week, however, the water cooler talk has been the somewhat quasi-feud between Johnny Weir and Evan Lysacek. Unfortunately, I've gotten sucked in because as I'm reading Fortune and The Wall Street Journal, a lot of people I know and care about are (I'm sad to say) reading People, US, and the other tabloid magazines.  One can … [Read more...]

Filed Under: Entertainment Tagged With: , , , , , , , , ,

An Evening in the J.C. Penney’s Men’s Department

March 17, 2010 By Leave a Comment
Stafford Dress Shirts from J.C. Penny's

As promised in Department Store Sales Make Me Really Happy, Aaron and I headed out to J.C. Penney to follow up on the stuff I had mentioned and, sure enough, the sales were spectacular.  It's clearly a different feel from the regular Nordstrom, Charles Tyrwhitt, and Thomas Pink shopping experiences from my New York days, but the amazing thing is I was able to get 1 pair of blue jeans, 2 t-shirts, 3 polo shirts, 5 dress shirts, and 5 ties.  Before the sale, the total would have cost $540.74.  … [Read more...]

Filed Under: Fashion, Saving Money Tagged With: , , , , , , , , ,

Department Store Sales Make Me Really Happy

March 14, 2010 By 2 Comments
JC Penny Ties and Dress Shirts

Although I'm normally a Nordstrom's guy myself, I have to say that after reading an article a few years ago (The Wall Street Journal or The Financial Times maybe?) about the vastly improved quality of department stores suits such as the J.C. Penny brand thanks to the use of expert tailors in Hong Kong for a fraction of the price and trying out the difference for myself, I have been genuinely shocked at how good the improvement is.  I waited until a 50% off sale and bought a couple of suits for … [Read more...]

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The Bosendorfer Strauss Grand Piano – A Real Life Lesson in the Time Value of Money

March 10, 2010 By 3 Comments
Bosendorfer Strauss Grand Piano

The Opportunity Cost of a Bosendorfer Strauss Grand Piano I'm going to teach you a financial technique that can help empower you to make informed choices about your own life and keep more cash in your pocket.  I've been using it since college and it's done wonders from my bank balance and investments. From the time I was a kid and had only a few thousand dollars in the bank, I have wanted either a Steinway & Sons Model B grand piano and / or a Bosendorfer Strauss model grand piano, … [Read more...]

Filed Under: Investing Articles, Making Money, Music Tagged With: , , , , , , , , , , , , , , , , , ,
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