Why the ’80s? The decade was all about money, introducing the world to the yuppie and crack, along with film characters like Tony Montana and Gordon Gekko, who seemed to coin slogans about money, wealth, capitalism, and, most memorable of all, greed, every other time they spoke. (We were supposed to be reintroduced to Mr. Gekko this week …
Wall Street & Markets
How much would financial reform hurt New York City?
Today President Obama gives a speech on financial re-regulation in New York City—a.k.a., the city he and Congress are out to hurt with financial re-regulation. Okay, I exaggerate. Although as my colleague Michael Scherer pointed out yesterday, if financial reform is done right, Wall Street banks will see profits decline, at least in …
The dangerous development of the market-timing mindset
Of all the unfortunate circumstances to emerge from the housing bubble and bust, one of the most underappreciated is the development of a market-timing mindset when it comes to the decision about when to buy a home. I mention this now because this morning’s New York Times has a story about using price-to-rent ratios to tell whether or …
What a 100-Year Stock Market Chart Says
Up on my office wall just beyond my computer screen I have a 100- year chart of the stock market. It’s none too elegant, having been cobbled together from a long-term chart of the Dow that Value Line offers for free on its website, some decades from other data sources and crude penciling in by me of missing months. (A friendly source …
Pitfalls That Can Ruin You Financially
Stay away from payday loans, reverse mortgages, and, even if it’s for your best buddy, cosigning a loan. Also, it really is best to keep up with your mortgage payments, even if you’re underwater and walking away seems like the best strategy.
How Much Might Goldman Sachs Have To Pay?
The Securities & Exchange Commission on Friday sued investment bank Goldman Sachs for defrauding investors. It could severely damage Goldman’s reputation and a settlement, if it happens, could be very expensive.
The sheer spectacle of the U.S. Government charging Wall Street titan Goldman Sachs with civil fraud has been enough to …
Grand Plans: How to Invest When You Have $1,000 or Less
Five ways to start building a nest egg, even when your savings are so small you might assume it’s not worth the bother.
Survey: Homeownership Not as Solid an Investment as You Once Thought
Also, who is responsible for the all-too-common scenario in which homeowners can’t keep up with their mortgage payments? Most people blame homeowners for taking out loans they couldn’t repay, rather than the banks that facilitated those loans.
Best Money Advice Ever
“We all have to learn from our mistakes of overleveraging ourselves and acting like 5-year-olds – ‘I want four cookies.’ You don’t need four cookies; you only need one. It’s not about what you want, it’s about what you need. We all must reassess our consumer behavior. It’s not good enough to live within our means — we have to live …
How the Economy Is Still Affecting How We Work, Shop, and Live—and How Many Ex-Cons Are Out on the Streets
Compared to the recent past, you’re far more likely to be driving an old clunker, piling up speeding tickets, and living with either Grandma or a spouse you can’t stand. You’re also less likely to reside in Las Vegas, Orlando, or a state prison.
Shout Out: ‘Think Like a Squirrel’
When faced with the choice between enjoying the moment and planning for the future, the squirrel knows what to do. Do you?
Healthcare and the Stock Market
The stock market is rising on the healthcare news— the S&P 500 index gained 0.5% on Monday and the Dow industrials gained 0.4%. That’s a welcome relief because it wasn’t a given that stocks would react positively to a big, expensive government initiative. I don’t read this market rise as an endorsement of expanding federal …
