Nov 262014

If you’re new here, you may want to subscribe to get stock tips or have investing ideas delivered to your email. I’m also on The Twitter.Thanks for visiting!Tweet Eddie’s new day is Wednesday. (Checks calendar) Hey wait. That’s today. Here he is.  Let me pose a fictitious story to you to illustrate a very important point. Jane works at a local grocery store as a produce manager.  She excels at her job because she is knowledgeable, driven, and charismatic.  On the last day of 2011, she sat down with Bob, Read More […]

Nov 242014

Tweet A few weeks ago I was asked to take part in a personal finance expert sort of panel over at Boomer and Echo, AKA the only adult man in the world who willingly spends time with his mother when he isn’t trying to bum smokes or to sucker her into taking care of his kids. You’re a bigger man than I, Robb. Robb ended up asking 15 of us what our opinion was on borrowing to invest. He “got” a letter from a “reader” (fact: 99% of those are made Read More […]

Nov 212014

Tweet (Plus links. Stay tuned for them at the bottom.) Friend of the blog John Robertson (author at Holy Potato, AKA one of the blogs I link to every week) wrote a small little e-book a couple of years ago, called Potato’s  I reviewed it here. It was a nice little guide explaining the basics of RRSPs, TFSAs, and all that jazz. I’m sure my shout-out led to him selling thousands of books. Well, apparently that wasn’t good enough for him. Like some sort of ambitious guy, he basically scrapped Read More […]

Nov 202014

Tweet It’s Eddie, and it’s more interesting than last week. Last week I gave what was likely a boring example of a solution to sunk cost fallacy using the example of developing an oil & gas property.  This was based upon a previous post explaining the concept of sunk cost fallacies.  This week’s post gives more individual solutions to sunk cost fallacies and how to avoid them. Avoid careers with defined-benefit pensions – oft lauded by uneducated personal finance bloggers, jobs with DB pensions are rife with the sunk cost Read More […]

Nov 172014

Tweet We’ve all concluded that BlackBerry is the best, right? Everyone hold up your Passport phones and wave them around like you just don’t care!!! You all don’t have Passport phones? What in the actual hell is wrong with you? They’re the best. They have a full keyboard, and access to the Android store for apps, and some program that works like iMessage but with all your texts, plus John Chen is handsome and I heart him very much. No, YOU have an unreasonable man crush. As I’ve mentioned, oh, Read More […]

Nov 132014

Tweet It’s Eddie time, y’all. Last week, I described and we explored the notion of sunk cost fallacy.  There have been many business articles written about sunk cost fallacy, yet many propose no solutions other than to be aware of it.  In this week’s article, I will propose some ideas to overcome sunk cost fallacy. The best way to reduce the effects of sunk cost fallacy is to evade it altogether and not find yourself in a position where one has to contemplate it. One method is through modularization. This Read More […]

Nov 122014

Tweet Like our buddy Bill’s “problem” back in 1998, most accounting problems aren’t so bad. People huff and puff for a while, stuff looks like it’s about to get real, and then things go back to being normal again. We can look at accounting scandals in one of two ways. They’re either intentional, or accidental. The intentional case involves an outright fraud. The accounting department knows the books aren’t right, but either the CEO puts pressure on the department to hit a certain number, or the CFO does it in Read More […]

Nov 112014

Tweet Hi kids. Nelson here. Today we’ve got a guest post from Rob Pivnick, who works for Goldman Sachs. This automatically makes him the smartest person who has ever visited this blog by a factor of ten. He wrote a book called What All Kids (and adults too) Should Know About . . . Saving & Investing. I haven’t read it, but Rob seems pretty smart. I’m sure it’s a good gift for your favorite millennial. Take it away, Rob.  It’s a tiger. Or maybe a lion or wolf. And it’s Read More […]

Nov 102014

Tweet Say whattttttttt? Nelson, stop with the confusies. Your title is HARD. Last week, Bank of Canada Governor Stephen Poloz made headlines for suggesting that the kids these days should BUCK UP AND GROW A PAIR by taking unpaid internships, especially if they’re living for free in their parents’ basement. Here’s his full quote for context: … And the problem, of course, is the longer [finding a job after graduation] takes, then the more likely it is that a brand new graduate is more attractive to an employer and the folks Read More […]

Nov 092014

Tweet Oh, Danier Leather, you will be the death of me. I will literally suffocate underneath a mountain of leather coats. At least it’ll smell nice. On October 27th, the company released its 2015 1st quarter results. And they were, in a word, craptastic. Sales were down 20% compared to last year. The loss increased from $0.93/share last year to $1.43 this year. Gross margins fell a bunch too, from 50% to 46%, thanks to discounting to get all of the old stuff out of the stores. Management also talked Read More […]