Become financially independent
In 2007 I bought shares of Berkshire Hathaway, and so I’ve read every shareholder letter from Warren Buffett, watched the documentary, read the biography. Even made it a point to vacuum up every little scrap of wisdom from sidekick Charlie Munger.
It makes sense then, that you’d attend the annual Berkshire shareholder meeting. Every May thousands of people flock to Omaha, Nebraska, for this...
Ralph Wanger was founding manager of the Acorn Fund. At the helm between 1970 and 2003 he averaged returns of 16% versus 12% for the S&P 500. He wasn’t only a great investor, but a witty writer.
He once said the stock market was like a man walking his dog in New York City. The walk was always the same: start at Columbus Circle, stroll through Central Park, and end at the Metropolitan Museum...
Everyone knows you’re supposed to have an emergency fund. You get laid off, break an arm, the refrigerator quits. These things happen, sometimes all at the same time, and so personal finance experts recommend having up to six months living expenses set aside in cash.
But isn’t this advice only for people grinding it out, working and living paycheck to paycheck? In that situation having cash tucked away is smart. There’s no need to...
Years ago a co-worker casually mentioned to me the only reason she showed up for work was that all her friends were there. I asked, “So what happens when you retire?” It caused some nervous laughter and then we went about our day.
Just a few weeks later the company let her go. Don’t think after putting in 20-plus years you’re not disposable. She emailed me a month later asking if I knew of...
Imagine taking a six-hour flight from New York to Los Angeles, but right before taking off you learn the airline has a new policy: Reclining your seat is negotiable.
This poses two questions: First, how much are you (the recliner) willing to pay the person behind you (the reclinee) in order to push your seat back four inches? Second, what does your legroom cost the reclinee?
Researchers ran an experiment and found...
