A mentor once told me, "If you're going to make your career in the real estate industry you need to subscribe to the Wall Street Journal." So I went on Ebay and got a subscription for a 75% discount over the normal rate. The downside is you have to wait for about 10 weeks before you start receiving it, but it did eventually start arriving and continues to do so 6 days/week.
It's my only daily paper and while I don't get to it every day, I do read it most of the time. However, I have to admit that I don't always understand everything going on in the markets and more specifically, I don't always understand what it ACTUALLY MEANS for me individually. Granted I don't have millions of dollars in the bank today, but I may in the future. And I would like to know how I should be investing cash as my deals reach the end of their life cycle. Which brings me to a discussion I've had recently with my friend and investment partner Tom Harvey. Tom is a retired aerospace industry executive, but has studied and invested in the bond and currency markets for over 30 years.
Tom was telling me on the phone the other day about where the world economy is heading and also about all the information that is ACTUALLY IMPORTANT which no one is talking about in the financial media. Sure, the sub-prime market is failing....sure the credit crunch is affecting real estate markets.....will the Fed raise rates?....won't they?....
All this, he explains, is interesting but there are much more disturbing underlying forces at work which are totally being ignored. Tom then went on to explain that his real desire was to write a newsletter and/or blog that would educate people on how to think for themselves in the modern financial world. I told him that I would be happy to help put together a blog, and now we have http://economyguy.com If you have the slightest interest in money and how it works and what it ACTUALLY MEANS to you, then I highly recommend checking it out. It's now part of my daily reading in addition to the WSJ and I believe that in the short term it will positively affect my own returns.
Monday, September 10, 2007
Learn Ya Some Market Stuff
Decreed by Cyrus on 9/10/2007
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2 comments:
My biggest fear is that my husband will take the deep six without leaving me the password to the online bank accounts. That's about as big as Financial Data gets for me. I'll have a look at your new blog and maybe edumacate myself. Cool post!
I bet there's some kind of top secret password that the President has to remember if he ever wants to so some kind of super important highly secure stuff...like bomb somebody....or fire a prosecutor. I bet he keeps that password on a post-it note somewhere around his desk.
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