Welcome, Everyone.
I Will Post New Tales Weekly.
Read, Learn and Enjoy.
Interviews: October 22, 2008
The current state of investor psychology and what investors can do today and tomorrow when managing their portfolio. Also dispels general investment rules of thumb that can get people in trouble. Specifically, dispel the notion that the Washington DC region is recession-proof.
People need to invest as a function of their stage in the wealth cycle and what I find is that individual investor behavior and how they relate to their portfolio is a major influence if not the major influence that determines portfolio returns.
Mistakes that people make with their money. Unless you are a gifted trader, which of course means your investment philosophy is trading, you must avoid the “philosophy of the day.” Listening to prognosticators such as Jim Cramer is fun but dangerous to your portfolio health. What safety is from an investment perspective.
One of my core beliefs about investing is that stocks are a tool for wealth building. The stock market has periods of fear and periods of greed which naturally leads to investors having periods of fear and greed. How you should think about these periods and what you should do.
How much money do you need to retire?
Posted in Uncategorized | Tagged cramer, investor, portfolio, recession | 1 Comment »
It seems that last week’s election is still the talk of the world. Many have asked me to comment but I don’t feel it is my place. These tales are meant to provide ageless wisdom so current events are not in our repertoire. This week’s tale is A Homeostatic Tale and I have selected it from my library because it speaks to the evolution of credit and how we as a species have failed to adapt to the recent widespread and uncontrolled availability of this new development. As we go through the painful process of restricting credit to those that are actually credit worthy and as we go about collecting our debts from those that can pay and determining what to do with those that can’t we will witness the next phase of the credit evolution.
“And that after this is accomplished, and the brave new world begins when all men are paid for existing and no man must pay for his sins.” - Rudyard Kipling
Posted in Uncategorized | Tagged homeostatic, tale | 3 Comments »
In the spirit of democracy, I’ve decided to add a new section today where you can vote for Your Favorite Tale.
And upon request, I will be also including a new tab on Your Favorite Tale, where you can submit your own Financial Tales and I will post it upon review; giving you author credit, of course.
Who knows? Your Favorite Tale may be your own.
Posted in Uncategorized | Tagged democracy, favorite, tale, vote | No Comments »
The purpose of this website is to educate investors about money and finance in the simplest way I know how. Every week or so I will release a tale or two from my library that seems appropriate for the time. Since many of my tales depend on lessons learned from other tales, whenever you see a reference I suggest you follow the link after you have completed the tale. If the link takes you nowhere, it’s because I haven’t released that tale yet. If you are interested in the topic you can contact me personally and I will send it to you or you can wait until it is released.
If you like this tale, pass it on to a friend or family member who can benefit from the lesson. If you like the approach and general philosophy of our firm and you are looking for individual investment advice, drop us a note at Chicago Wealth Management and we will contact you shortly.
If you would like to be the first to receive a new tale as it is released from our library, contact us and Financial Tales will send it to your email address free of charge.
Posted in Uncategorized | Tagged financial, lessons, library, tales | No Comments »
