I’ve written a lot about the economics of household income over at Investing for Beginners at About.com, a division of The New York Times. [mainbodyad]Most economic data, as I explained there, comes in the form of regular households that are easily understandable to the average worker. For example, to be in the top 5% of household…
A few days ago, I was reading a psychology study that discussed the difference between the physical brains of men and women and the real-world implications of these differences. [mainbodyad]The best way to summate the data was the example of the assassination of President John F. Kennedy. As he was shot, the typical response of…
I’m going to just say it, Diana Damrau, both in terms of voice and acting portrayal, is the single best Queen of the Night in history. I don’t care what anyone else says. Her “Der Hölle Rache” is flawless. I mean, absolutely, cannot-be-improved-upon-in-your-face perfect. It starts at 2:09 into the video if you want to…
John S. Lemon, President of Tootle-Lemon National Bank in St. Joseph, Missouri (the city near the farm town where I grew up before moving to the East Coast at the end of my teenage years), died on March 17th, 1905. According to Volume LXX January to June 1905 of The Bankers’ Magazine: “He was born…
I’ve been talking a lot about trust funds lately. I calculated that if someone put $50,000 in a trust fund today, 70 years from now, they could have a dynasty trust paying each of their heirs a $25,000 cash check (in today’s dollars, net of taxes) at Christmas. There are a lot of assumptions that may not pan out in that figure, but it’s a decent guess.
Trust funds are terribly misunderstood. They are one of the most flexible planning tools to nurture, create, and pass on wealth ever known to man. They can be as rigid or as flexible as you desire. Even more importantly, you don’t have to be rich to use trust funds. These structures are not relegated to the realm of the Rockefeller and Walton families.
You all know that Peter Lynch was the first investor that made the stock market make sense to me during childhood. He is one of the greatest investors of all time, having compounded the mutual fund he ran for 13 years at 20%+ annually, generating an absolute return of more than 1,000% for his…
Reuters just published an awesome article about songwriter Franke Previte, who lives in New Jersey, and wrote the hit songs “Time of My Life” and “Hungry Eyes” for the movie Dirty Dancing. The copyrights have turned out to be a lottery ticket for the composer, providing him with a substantial stream of profits upon which…
I really enjoy paradox, especially in areas of science, religion and philosophy. There are all kinds of paradoxes in life – some are paradoxes of logic, some of self-reference, some of mathematics, some of statistics, some of probability, some of decision theory, some of physics. The world is full of paradoxes. [mainbodyad] What do I…
A new addition to the Scrooge McDuck collection joined the office today. It was only released in Europe but I liked it so much it had to join our Carl Barks compendium.