Some Terrible Financial Advice: The

Some Terrible Financial Advice: The “Emergency Fund”

By The Banker | Blog Posts, Personal Finance

If you frequently read articles, books and blog posts about personal finance – as is my unfortunate wont – you quickly stumble upon one of the sacred cows of the genre: “The Emergency Fund.” “The Emergency Fund,” the grown-ups tell us (as in this post that showed up in my inbox yesterday,) consists of 3 [&hellip

Time out for Poetry: Ithaka

Time out for Poetry: Ithaka

By The Banker | Blog Posts

The students in my Personal Finance course took their final exam yesterday, and many of them will graduate from college very shortly. One of the themes of the course, of course, was ‘getting wealthy.’ In addition, that’s the theme of the book I’m trying to write.  One of my friendly early readers of my book proposal draft mentioned [&hellip

Guest Post: The Simplest Investment Approach, Ever

Guest Post: The Simplest Investment Approach, Ever

By Lars Kroijer | How Not To Invest, Investing, Personal Finance

Editor’s Note: Lars Kroijer is a former hedge fund manager, and the author of two books. He previously posted here on the advantage of conceding ‘edge’ in personal investing. I appreciate his debunking the value of high-cost financial services.   You probably can’t outperform the market – here is how you should invest once you [&hellip

An interesting investment paper

An interesting investment paper

By The Banker | How Not To Invest, Investing, Wall Street

Today I will run the risk of re-posting somebody else’s work many months after others have had a chance to read it, on the assumption that non-professional readers do not spend their day scouring investment blogs for clever reading material. The much greater risk, I think, is that thoughtful work goes unread by people who [&hellip

Executive Pay with Equity Awards: It Takes a Buffett to Push This Agenda

Executive Pay with Equity Awards: It Takes a Buffett to Push This Agenda

By The Banker | Blog Posts, Wall Street

I recently pointed out the absurdity of certain executive pay packages which result from stock or stock option awards. Rather than matching “pay to performance” as proponents claim, the equity awards to executives often create absurd payouts for bad performance, or substitute lucky timing for skill. If the stock goes up during an executive’s tenure, or even [&hellip