Leave Forecasting to the Weatherman

“Prediction is very difficult, especially if it’s about the future.” –Nils Bohr “Weather forecast for tonight: dark.” –George Carlin As we saw in “Do You REALLY Know How You Would React if the Stock Market Dropped by 20 Percent,” the personal finance industry loves their risk tolerance questionnaires. They think that you’re going to be […]

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Do You REALLY Know How You Would React if the Stock Market Dropped by 20%?

“What is necessary to change a person is to change his awareness of himself.” –Abraham Maslow “The final mystery is oneself.” –Oscar Wilde If you’ve ever taken one of those online financial assessments, you’ll know that you’re asked questions about yourself. Most of them are either demographic – how old are you, are you married, […]

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Thanks for Saving More Money!

“Gratitude is the healthiest of all human emotions. The more you express gratitude for what you have, the more likely you will have even more to express gratitude for.” –Zig Ziglar James Altucher has had ups and downs in his life. The founder of StockTwits has been a millionaire before. Then he lost everything. Then […]

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The Mental Challenge of Keeping a Manager Who Has Failed Fast

“If at first you don’t succeed, destroy all evidence that you have tried.” –Steven Wright Most entrepreneurs love to embrace new buzzwordy business styles. Six sigma. Lean. Lean six sigma. Agile. Flat organizations. No titles. Lean six sigma flat org charts with no titles. Fail fast. I’ve dealt with all of these types of organizations […]

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The Psychology of Debt – A Battle Between Your Two Brains

“Promises make debt, and debt makes promises.” –Dutch Proverb I received my first credit card when I was a plebe at West Point. Perhaps there should have been a hazing ritual to go along with it so that I would have been more scared of it than I was, but, hey, I was a plebe. […]

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Making Money in Your Investments Doesn’t Make You a Great Investor

“The one thing that unites all human beings, regardless of age, gender, religion, economic status, or ethnic background, is that, deep down inside, we all believe that we are above-average drivers.” –Dave Barry Do you think that you’re a good driver? You probably do. Why do you think that? You’ve probably only been in a […]

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