The price of gold is falling. Everyone seems surprised. John Paulson is selling his fancy house in Aspen. I don’t get it. Or maybe I do. I’ve been on record for a long time saying that gold was overvalued. And for a long time, the price kept going up. Was I wrong? Am I right?… [Read More]
Blog
Why is John Paulson’s performance a surprise?
I often quote Po’s line from the movie “Kung Fu Panda”: There is no secret ingredient. Every time there’s a major market crash, there’s someone out there who called it coming and ended up making a fortune. And inevitably, that person never duplicates the feat. In the 1987 crash, it was Elaine Gazarelli. She called… [Read More]
Felix Salmon, Thomas Friedman, and 401(k) plans
Last week, Thomas Friedman wrote a breathy column for the New York Times about how it’s a 401(k) world. The idea being that just as we have responsibility for our own retirement funds – which is good for some people – we have responsibility for more of our careers – which is also good for… [Read More]
Money Smart Week: Just save already, darn it
Money Smart Week has come to an end. The goal is great: to get people handling their money more responsibly. After all, money represents hours of work, and you should use your time for things you want and need. The key to financial security is to live on less money than you make, then get… [Read More]
