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Financial writers: Fail
Old 05-31-2010, 11:44 AM   #1
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Financial writers: Fail

I'm always amused when the folks who are supposed to be telling us about finances have big failures in their own financial lives.

Here are two cases in point:

Ron Lieber of NYTimes had hired a crook to be his financial advisor:
Reckoning for a Financial Planner - Bucks Blog - NYTimes.com

Nancy Trejos of the Washington Post wrote a book about her fail, here's the review:
Book Review: Hot (Broke) Messes - How to Have Your Latte and Drink it Too | Wise Bread
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Old 05-31-2010, 12:05 PM   #2
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Perhaps they believe the drivel they spout.
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Old 05-31-2010, 12:23 PM   #3
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Perhaps they believe the drivel they spout.
Or more "Do as I say NOT as I do..."

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Old 05-31-2010, 12:50 PM   #4
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Perhaps they believe the drivel they spout.
Or perhaps it was "Hey, boss, here's a great idea for a followup article and maybe even a book!"

Tough call-- stupidity or cynicism.
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Old 05-31-2010, 02:38 PM   #5
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Old 05-31-2010, 08:00 PM   #6
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She's not exactly in financial ruin as she also other investments that are still doing well, not to mention the income from her book.
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Old 05-31-2010, 08:27 PM   #7
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Don't forget Edmund Andrews, economics reporter for the New York Times, whose house was in foreclosure when this excerpt from his book about his personal financial ruin was published:

http://www.nytimes.com/2009/05/17/ma...t.html?_r=2&hp

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...As an economics reporter for The New York Times, I have been the paper’s chief eyes and ears on the Federal Reserve for the past six years. I watched Alan Greenspan and his successor, Ben S. Bernanke, at close range. I wrote several early-warning articles in 2004 about the spike in go-go mortgages. Before that, I had a hand in covering the Asian financial crisis of 1997, the Russia meltdown in 1998 and the dot-com collapse in 2000. ....
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Old 05-31-2010, 08:31 PM   #8
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Am I having a grumpy old man moment? I'm not at all sympathetic with the plight of these writers. In fact, I think they all got surprising good deals considering how much they brought on themselves or how whiney and out of touch they are with "real" people. Bah humbug.
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Old 05-31-2010, 09:23 PM   #9
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Now what I would really like to see are some of the books by people who "failed" in a really big way - the Hunt brothers, the Reichmanns, Madoff etc. Sometimes I just can't help but wonder what on earth they were thinking.
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Old 05-31-2010, 10:16 PM   #10
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Don't forget Edmund Andrews, economics reporter for the New York Times, whose house was in foreclosure when this excerpt from his book about his personal financial ruin was published:

http://www.nytimes.com/2009/05/17/ma...t.html?_r=2&hp

Thanks for reposting about Edmund Andrews, he was one of the few of the financial writers who's incrediable story actually raised my blood pressure and I couldn't remember his name.
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Old 05-31-2010, 11:00 PM   #11
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The house he bought for nearly $500K is a few houses down from the one my uncle bought (new) in the late 1950s for almost $30K. He sold it in 1999 for around $300K.
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Old 06-02-2010, 06:32 AM   #12
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Interesting. Reminds me of the people who make money from losing weight over and over (Kirstie A.) ie This time I really have it right-sure.
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Old 06-03-2010, 11:36 PM   #13
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Interesting. Reminds me of the people who make money from losing weight over and over (Kirstie A.) ie This time I really have it right-sure.
you are rite
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Old 06-04-2010, 12:14 PM   #14
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Don't forget Edmund Andrews, economics reporter for the New York Times, whose house was in foreclosure when this excerpt from his book about his personal financial ruin was published:

http://www.nytimes.com/2009/05/17/ma...t.html?_r=2&hp
Yes, he was stupid both financially and romantically. I puzzled over many aspects of this story - why her ex wasn't paying child support, why he had to have the expensive house, why they had to have many of the things they did......the old mantra of those wyo can't, teach - in this case those who can't, write.
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