Monday, December 13, 2010

Holiday Book List 2010


Each year, I get a few requests for book recommendations. Sometimes it's with a current theme in mind. Other times, it's simply a good book to read to better understand the financial markets.

Let's face it... with a dwindling supply of companies offering pensions these days, understanding your investments is a key component to your retirement. I'm flattered many people don't want to put the time, effort and energy into learning, so I will always have a job. Thank you! However, I do encourage everyone to learn about the capital markets. What was that commercial from years ago, "An educated consumer is our best customer!" I couldn't agree more.

So that being said, this year, I'm simply going to revert back to my holiday book list from 2009 and add a few more selections. As always, they are business AND non-business.

New additions for 2010 would include:



2. S*it My Dad Says - Justin Halpern


3. Decision Points - George W. Bush


Happy Holidays!!!

Friday, December 10, 2010

Changing Times...

Evolution is a funny thing. It's generally considered good. Indoor plumbing, baseboard heat, automobile and of course the internet are a few great examples. If it wasn't for the latter, I wouldn't be sharing my thoughts with you @ the moment.

But, with everything good, there is often a side effect. Taking cholesterol drugs is great for lowering the bad stuff in your arteries. Unfortunately, you could experience muscle pain as a result. If my cholesterol was around 210, I think I'd skip the medicine altogether and maintain a healthy lifestyle.

Skis, boots and bindings have made huge advancements over the last decade. Broken bones are almost a thing of the past. On the flip side, skiers experience more knee injuries than ever before. Hmmm... broken bone or knee problems? Tough decision.

The real estate boom of the recent past allowed all citizens to 'afford' the American Dream. Barry Ritholtz of "The Big Picture" showed a great google map(s) this week displaying the measle epidemic spreading across our country. The 'hot' spots or cluster of foreclosures shows the devastation in certain regions. We can only speculate how long it will take to fix this problem.

Today's federal deficit news is another warming shot of sorts. Our lifestyle as we know it will be changing at some future date. This week, next month or over the next decade? Not sure. But, we owe a LOT of money. If the government followed the bankruptcy laws that individuals follow, we would have filed chapter 11 a long time ago.

People don't like change, but we've been living the good life on borrowed money for decades. Now that we collectively owe more than $1 trillion... read that again... trillion dollars - it's time to scale back.

What comes next? Higher income taxes, less municipal services, older social security eligibility, higher real estate taxes? Probably all of the above. Oh yea... and less international travel. The dollar will probably continue to lose strength and make travelling abroad too expensive. Sad, but true.

Bob Dylan may have been a prophet of sorts when he stated in his classic 1964 song, "Times They are a Changing"...

And that's the final word from 'doom & gloom' central. I'll try to be more cheerful next time! Promise!!