All that crap about saving, living frugally, living below your means?Well, forget about it...
Wikinvest Wire
Monday, January 12, 2009
A Thought From Palm Beach
All that crap about saving, living frugally, living below your means?Well, forget about it...
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9 comments:
I KNEW you'd eventually come around to my way of thinking. After all, why work so hard for xx years if you can't then enjoy the fruits of your labor. You're just starting a bit early because of your major celebrity status. The Prescott 'homes of the stars' bus tour will soon have to schedule a stop in Walker.
lmao, they'll have to chain up
Thanks for the laugh, Roger. You've got your head screwed on straight.
Roger- This is a very intriguing article on personal or family liquidity versus illiquidity in this time of trouble. It's not class or wealth level related but perhaps exists at all levels:
http://seekingalpha.com/article/114139-wealth-watch-redefining-rich-and-poor-in-a-shrinking-global-economy?source=email#comment-352872
Say hi to Rush Limbaugh while you're there. You may catch a glimpse of America's Anchorman in his Maibach. Earned at the expense of libs, to their consternation.
Stuff like this cracks me up. The guy is posting from the ETF conference.
He lists a couple of caveats. Yet manages to leave out 1) oh, btw, since you have only 15% bonds this portfolio would have been crucified in 2008 and 2) I'm recommending ETNs in a year when there's a heckuva lot of banks failing.
He's an editor at Journal of Indexes and a writer for Financial Advisor magazine. But maybe I just expect too much. I dunno.
Well, I think he was just demonstrating how low his expense ratios are. Although 13 beeps hardly seems like much to talk about when you're down 40%.
It might be correct for me to say Matt and I are friends--we have known each other for a while and I don't think i am being too presumptuous.
the context of his post is pure indexing. people who are pure indexers get crushed in a bear market, usually not worse than the market because they own the market. I'm not sure if Matt is a pure indexer or not but his portfolio is more like hey if you're a pure indexer here's an idea at least that is how I perceive it and again people that are passive indexers get smoked in bear markets like we've had.
this article by Gary Gordon has, IMO, far less value than Matt's article.
He's already got bonds in the portfolio. You avoid getting smoked by jacking that up.
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