A while back, I was speaking with a fellow who had recently retired. He shared this observation, only half-jokingly: “Working was easy,” he said. What he meant was that financial management during our working years is more straightforward than it is in retirement. When we're working, we earn and [...]
Money and Me
Jonathan Clements’s final book was released this week. Titled Money and Me, it traces the arc of Jonathan’s nearly four-decade career as a personal finance columnist. Money and Me starts with the story of a man named George Cope, who was a nineteenth century tobacco baron. At the time of his death [...]
Schumpeter’s lesson
Economics is known as “the dismal science,” and perhaps for good reason. Oftentimes it can be abstract and overly academic. There are, however, certain economic concepts that can be helpful to individual investors. Below are two that I see as especially important. When it comes to the government’s [...]
An underappreciated investment
Back in 2010, at the Berkshire Hathaway annual meeting, a shareholder challenged Warren Buffett. Noting that shares of motorcycle maker Harley-Davidson had nearly tripled over the prior year, he asked Buffett why he had chosen to buy the company’s bonds rather than its stock. Buffett’s reply was a [...]
GameStop’s gambit
An unusual story hit the news this week. GameStop, the struggling video game retailer, announced a bid to buy eBay. The offer was unexpected, but what surprised investors more was the economics of the proposed deal. eBay is many times larger than GameStop, making it difficult to understand how [...]
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