The Allowance Experiment, Completed!

The Allowance Experiment, Completed!

By The Banker | Blog Posts, Personal Finance

Last night completed Day 30 of the “Allowance Experiment,” in which I offered my eldest daughter a daily payment calculated as 10% of her allowance savings, compounding daily.  On day 1, she began with an initial grub stake of $1.  She received $0.10 on day 2 (10% of $1) and $0.11 on day 3 (10% [&hellip

Ask an Ex-Banker: Is This The Greatest Wealth-Making Opportunity Of All Time?

Ask an Ex-Banker: Is This The Greatest Wealth-Making Opportunity Of All Time?

By The Banker | Ask an Ex-Banker, Blog Posts, How Not To Invest, Personal Finance

Andrew, in Baltimore, writes in with a sure-fire way to earn 1%, risk-free, for 10 seconds of ‘work.’ I’m almost afraid to let out his secret, as mobs will soon descend on the City of Baltimore’ inner harbor Aquarium to attempt to reproduce this sure-fire money-making process. But, I owe it to Bankers Anonymous readers [&hellip

What Should I Think About The Twitter IPO?

What Should I Think About The Twitter IPO?

By The Banker | Blog Posts, How Not To Invest, Investing, Personal Finance, Wall Street

What should I think about the Twitter IPO? Mostly you should think about Las Vegas, Nevada, as a number of important analogies apply here.[1] First – The Poker Table You know the rule that if you’re sitting at the poker table, and you’re not sure who the sucker is, then it must be you? That’s [&hellip

Book Review: If Your Money Talked What Secrets Would It Tell by Gary Sirak

Book Review: If Your Money Talked What Secrets Would It Tell by Gary Sirak

By The Banker | Book Reviews, How Not To Invest, Personal Finance

Gary Sirak’s primary insight in his book If Your Money Talked What Secrets Would It Tell – an insight I happen to agree with – is that the psychology of money, our personal relationship with money – is usually our biggest personal finance problem. Financial insecurity often plagues the professional making half a million dollars [&hellip

Eike Batista - Familiar Lessons on Financial Catastrophe

Eike Batista – Familiar Lessons on Financial Catastrophe

By The Banker | Blog Posts, Wall Street

The Wall Street Journal’s review this morning of the rise and fall of Brazilian (ex) Billionaire Eike Batista’s business empire contains excellent, timeless points about entrepreneurship, investing, and the madness of crowds.  I really recommend reading all of it. The bare facts – Batista dropped from a Forbes estimated $36 Billion net worth and business [&hellip