I'll never forget my first interaction with Wall Street. I was in my early 20s, just getting started in my career, when I was introduced to a stockbroker—let's call him Eddie. He was a pleasant fellow with a good reputation and all of the trappings of success, including a DeLorean in the driveway. [...]
McArthur Wheeler
One spring day in 1995, a fellow named McArthur Wheeler walked into two banks near his home in Pittsburgh and robbed them at gunpoint. He almost got away with it—except for one critical flaw in his plan: The disguise he chose didn't disguise his face at all. Instead of the usual stocking cap or [...]
Managing a windfall
A few days ago, life changed for 24-year-old Manuel Franco of West Allis, Wisconsin. The winner of a recent Powerball lottery, Franco took home $326 million after taxes. With this large a sum, it shouldn't be hard for Franco to make his winnings last a lifetime. But that's an extreme case. More [...]
Stanislaw Ulam
In January of 1946, a man named Stanislaw Ulam found himself confined to a hospital bed, having suffered an encephalitis attack. A brilliant scientist and a veteran of the Manhattan Project, Ulam wasn't the type to sit idly while he recuperated. Instead, after playing innumerable games of solitaire [...]
Powell’s warning
Earlier this week, Fed chairman Jerome Powell appeared before Congress and spoke in serious terms about the country's debt situation. It is worth understanding what Powell said—and how that might impact your investments. Powell's message: “The U.S. federal government is on an unsustainable fiscal [...]
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