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June 15, 2011
U.S. News & World Report: 7 ways to limit investment mistakes
That is probably the single best investment advice I have ever read.
Let me summarize 4 of the 7 ways.
Limit your options (#1), avoid information (#2), delegate to other people (#6), and trust other people (#7).
How can you lose? It is exactly what Bernie Madoff investors did and if memory serves they made out like bandits.
Disclaimer: This is a sarcasm report.
ICE: Mortgage Delinquency Rate Increased Year-over-year in October
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From ICE: ICE First Look at Mortgage Performance: Serious delinquencies hit
17-month high while foreclosure activity remains historically muted
• At 3.45% ...
3 hours ago
7 comments:
If you follow this strategy, you won't be able to retire but you will receive total consciousness right at the point when you lose 50% of your savings, so that is something nice to look forward to.
You really can't make this stuff up.
Word verification "slapeid". Definition: a psychiatric affective disorder resulting from realizing that your investment manager has slapped you in the face with the losses, and taken the profits to undisclosed location where he is lolling in the sun, laughing over your credulity.
When I read those 7 rules, I threw up a little. I should have avoided that information like the article suggested.
A guy retires and is living the dream on his new sailboat.
An identical sailboat pulls up and he sees his financial advisor at the helm.
The guy says, "You just retired too! How many clients did you have?"
The financial advisor replies, "I did retire! I just had the one client. Behold the power of 1% annual fees for 50 years! Thanks!"
This was truly funny. I actually agree with limiting information when it comes to investing, though. I can't remember who said it, but he said, "When you see a pile of cash, then go pick it up, otherwise, don't do anything." With investing information, quality matters.
Nice.
Echo Boomer,
Find a pile of cash and pick it up and all the day you'll have good luck!
P.S. A penny isn't worth what it once was, lol. Sigh.
As a side note, this market smells like it just had a dead fish bounce.
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