No One Gets Rich by Shunning New Cars and LattesThe spending scolds always make the same errors about personal finance.Bloomberg, January 13, 2020       Managing your financial life requires following three rules: No. 1. Spend less than you earn; No. 2. Prioritize investing for your future; No. 3. Figure out what matters and...
Chinese Financing is Fueling Megaprojects Around the WorldSource: Visual Capitalist     Research lab AidData (part of W&M Global Research Institute) has compiled a massive database of Chinese-backed projects spanning from 2000–2017. It is a comprehensive look at China’s efforts to grow its influence, especially in Africa and South Asia. 6 of...
My morning train reads: • The Evil List: Which tech companies are really doing the most harm? Here are the 30 most dangerous, ranked by the people who know (Slate)• What we can learn about modern financial scams from the man who tried to sell the Eiffel Tower (twice!)...
I went on Chuck Jaffee’s Money Life show for about an hour of stream of consciousness discussion: Barry Ritholtz, chairman of Ritholtz Wealth Management and author of The Big Picture blog makes his first visit to Money Life and talks about the things he likes and dislikes the most...
Source: Robert Wood Johnson Foundation via WaPo     The past week, I have been writing about making smarter spending decisions, and also ignoring those who give lazy, bad advice. (See this, this and this). There is a methodology underlying the three rules I laid out and why people should spend their...
My mid-week morning train reads: • The Tokyo Job: Inside Carlos Ghosn’s Escape to Beirut (Businessweek)• The ROI of snacks: How companies track the impact of free food in the office (Digiday)• How Multi-Asset Investing Became So Popular (CIO)• The 47,500% Return: Meet The Billionaire Family Behind The Hottest...
 SNL- Don’t Buy Stuff.   Hat tip Rob L.     Wow, that was surprising. Monday’s column on buying a new car (or not) generated a lot of email and Twitter comments. I want to address some of those, plus add a few anecdotes there was no room for in the column. I thought...
My Tuesday morning train reads: • Institutions Know They’re Being Hoodwinked by Private Equity And they’re pushing back. (Institutional Investor)• Vanguard and the US financial system: too big to be healthy? (Financial Times)• Behavioral Economics’ Latest Bias: Seeing Bias Wherever It Looks (Bloomberg)• You Bet! by Howard Marks (Oaktree...
If you want better portfolios you must begin with companies that are “inherently better businesses.” So says Matthew Benkendorf, CIO of Vontobel’s Quality Growth boutique, managing $35 billion. Parent company Vontobel manages $279 billion and has 2,000 employees. Benkendorf  begins with a negative screen to identify the companies that lack...
Source: Torsten Sløk, Ph.D., Deutsche Bank Securities     Last month, we looked at how the top 1% of wage earners in the USA — they garnered wage gains of 158% since 1979. The bottom 90%? A bit more modest gains — of 23.9%. But that is just income. Let’s consider wealth created...