New HUD Secretary - The Good and Bad So Far

New HUD Secretary – The Good and Bad So Far

By The Banker | Blog Posts, Texas

Editor’s Note: A version of this post ran this morning in the San Antonio Express News. I can’t remember any speech Mayor Julian Castro ever made to which I paid much attention. Decade of Downtown? Meh. I had just moved to San Antonio’s downtown and I didn’t have any context. Democratic National Convention? I missed [&hellip

On Mortgage Spreadsheets and Old French Origins

On Mortgage Spreadsheets and Old French Origins

By The Banker | Audio Posts, Personal Finance, Video

I was scouring the interwebs lately for a financial education project I’m doing and I came across Sal Khan’s joint educational venture with Bank of America called www.bettermoneyhabits.com There’s some very good stuff there, but I was drawn in particular to his “How does a mortgage work” video. I recommend checking it out here. I [&hellip

On Selling - Sell Solutions Not Features

On Selling – Sell Solutions Not Features

By The Banker | Blog Posts, Texas

Editor’s Note: A version of this post appeared in the San Antonio Express-News. When I interviewed for my first bond sales job on Wall Street, half-way through the conversation the guy at JP Morgan sat back, held up a yellow #2 pencil, and said “Sell me this pencil.” At that point, age 24 or so, I hadn’t [&hellip

Book Review: A Random Walk Down Wall Street

Book Review: A Random Walk Down Wall Street

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

First published forty years ago, A Random Walk Down Wall Street by Burton G. Malkiel is one of those books – much like Benjamin Graham’s The Intelligent Investor – more referred to than actually read. Malkiel’s central thesis – that equity markets are so efficient at pricing stocks relative to their risk that the vast majority of [&hellip

The Giffen Good Concept Applied To Investments

The Giffen Good Concept Applied To Investments

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

Editor’s Note: A version of this post appeared in the San Antonio Express News “So…Money” column. The only “C” I got in college was in Intermediate Macroeconomics, but I remember one economics term that I really loved — the “Giffen Good.” With ordinary, rational, economic behavior, we expect that when prices go up, people buy [&hellip