Personal Money Management 101 Blog

by Ian Ayres

The recent phenomenal growth in computing power has given rise to a whole new numerical discipline in which massive datasets are analyzed to the nth degree and updated in real time. The results of this super crunching claim to be able to predict everything from which years are most likely to produce the best wines through to finding most favorable marriage partners. But how good are these predictions? According to Super Crunchers, very good. Read the rest of this entry »

Much to the chagrin of economists and financial theorists human beings generally don’t behave as though they have computers in their heads, ie we don’t always do what’s most likely to maximize our utility (well-being). Rather, our actions are naturally idiosyncratic. The relatively new study of behavioral economics seeks to understand and describe our innate irrationality.

In Predictably Irrational MIT professor Dan Ariely presents numerous demonstrations of how our shared human nature means that while our actions are often scientifically irrational, much of the time they are common enough to be predictable. Predictably Irrational is both entertaining and accessible to the lay reader. But furthermore its message is enlightening to every (potential) consumer. Read the rest of this entry »

by Steve Selengut

Jefferson Airplane has never, ever, been mistaken for a band of financial advisors, but the White Rabbit lyrics can be incredibly instructional to the generation of investors who experienced the classic first hand— as a description of their own college days’ lifestyle. If only they had heeded the dormouse’s call to “feed your head.” For the sake of your retirement sanity and security, you just have to make income investing an intellectual exercise— not an emotional one.

Read Income Investing: Go Ask Alice in full

Steve Selengut http://www.sancoservices.com | http://www.kiawahgolfinvestmentseminars.com/
Professional Portfolio Management since 1979. Author of: “The Brainwashing of the American Investor: The Book that Wall Street Does Not Want YOU to Read”, and “A Millionaire’s Secret Investment Strategy”

Many people wrongly think the term condominium (condo) refers to high-rise apartment buildings. In fact the term relates to a type of property ownership in which individuals own units in a larger complex as well as jointly owning, and being responsible for, the complex itself. So, should you go for a condo, or purchase a house outright? Each option has its pros and cons. Read the rest of this entry »