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I know a person working for the Harvard Endowment. He is highly touted for his investment smarts. Well, Harvard endowment's loss is in the same magnitude as Yale's. Smarts do not necessarily help. There are often people smarter, and market forces are hard to control or escape from.

Real income vs California issuing IOUs?

For me, 3/k a month is more that do-able.

A lot of people lost a lot more in a shorter time span during the meltdown and a number of Wall Street firms collapsed.

The richer your wife's friends are, the broker you are !!

Just wondering if the esteemed members of the Congress are also not getting their COLA increase this year?

With 4 millions, he is still in a better financial situation than most everyone. Plus, did he not have fun and enjoyed the good life for a not insignificant length of time?

For guys in those circumstances, it is better to rent than own : Paul McCartney

If politicians are not being thrown in jails, I don't see why prostitutes should.

I looked at the rent of a 2 bedroom apartments in Texas, and they are around $ 800 to 900 per month. 3% property tax on a $ 200000 house would be $ 6000, and I do not have to come up either with the $ 200000 or pay mortgage interest. I also do not have to take care of the lawn and other chores...

I was thinking about moving to Texas because there is no state income tax. But there is a 3% property tax. So one may actually lose out by retiring to those income-tax free states which depends on property tax for revenue. The retiree will not be working, so there is no income from employment...

Pixar grants girl’s dying wish with home viewing of 'Up' - OCRegister.com I read her story in the newspaper. She was such a lovely and brave girl. I hope you will mourn her and pray for her as I did. My heart goes out to the Curtin family.

Did you not get the email from Nigeria offering you a billion dollars US bearer bond for a mere $5000 each? The 500 millions dollars bonds are a steal at $ 2000. They even offered free shipping via Nigerian mail. For faster shipment via Tribal Express, you will be charged a hundred dollars more.

I do not know who are the people who put out analysis. I was reading Yahoo Finance. Monday the market fell big time. The headline was the US dollars getting stronger, and oil and commodities price fell. It was taken as a negative. Yesterday the meme was they are worried that the US Dollars may...

Congratulations. Look like you swung a very good deal. Enjoy your new abode. It look very nice.

Like I said, this discussion is taking on a of tone about government policy and politics and may be better if it takes place in the political discussion in the other section. But at the risk of the moderator's displeasure: I left Canada in 1990 after college and graduate school, that was the...

When a new graduate or when a doctor wants to move to and ,say, work in Vancouver, he/she has to get a billing number from the province. The province had routinely been denying those numbers in places where they deem there is an oversupply of doctors. You can get a billing number without...

Saver Hong Kong is a very expensive city to live in. I have a friend who was sent by his company to work in the Hong Kong Office. His small flat there cost US $5 to 6000 a month in rent. His company pays for it, but even those multinational corporations are finding the cost prohibitive and...

My rant was taken out of context. I am not against Health Care Reform to provide for basic as well as catastrophic medical care, I was reacting to the simplistic approach of the politicians to raise taxes on the " rich" as a solution to everything. They have massively underestimated the cost and...

Democrats Weigh Health Mandate as Obama Urges Taxing Wealthy - Bloomberg.com Where will the government get the money to pay for Universal Health Care and the massive deficits? Oh yes! Tax the rich!. The solution to everything is "Tax the Rich". But even after they take away every last dime...

For some, money is just a way of keeping score ( though I suspect not too many of them frequent the FIRE Board ). The accumulation of money, love conquest, wardrobes, cars, private jets is more a primal thing and not based on utility and need. To them, the term excess does not exist.

Agree with Snidely Whiplash about how the Obama administration can use GM and the congress to control other car manufacturers and bring forth the environmental agenda. I am not quite sure how Ford will become the big winner after GM and Chrysler's bankruptcies if the Ford family run the Ford...

The government forced out Rick Wagoner in March and install someone who would dance more to the administration's tune. They had made management decisions. They will not hold a seat on the Board, but they have a say as to who should be on the Board, and they have the car czar to oversee...

I know what you are saying. But the price differentials between items are often a lot more than the quality differentials, so one can still use discretion as to which item to buy. If one still choose to live below their means, paying 25% more on $25 for something is a lot less dreadful than...

The bondholders have 10% of the new company, the current shareholders got nothing. The major shareholders were mutual funds that people put the 401k money in, pension plans, and small investors. Hardly big fat capitalist pigs. Let's hope the new company that is mostly owned by the government...