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Dec 122014
 

Tweet Because, hey, we haven’t had one of these in a while. This might be fun. I’m looking to make money by selling some of my old things. Do you have any suggestions? Phil Look, I’m not opposed to people selling off their unused crap. Lord know that I have enough of it, and I don’t really have much junk. If you ever want a wake up call of just how much unnecessary crap you own, just go live in a foreign country for a while. You’ll realize that you only Read More […]

Dec 102014
 

Tweet It’s Eddie time, yo.  The primary purpose of last week’s Bezos and Skilling allegory is to advance the idea of not just investing in the long term, but to evaluate how you value your time and investments on a personal level.  For example, given you had spare cash to invest, the majority of PF bloggers would espouse one of or a combination of the following: Pay off debt Put it into your emergency fund Invest it in index funds within your RRSP (really advanced ones would suggest you re-invest Read More […]

Dec 052014
 

Tweet Now that my parents are getting to the point where they have more grey hairs than brown, they’ve started making some portfolio adjustments. My Dad’s day job is managing his real estate, and so he’s begun the slow process of selling off some of his property. My Mom has cut back to only working 2-3 days per week, and yet still doesn’t cook me dinner and ship it to Korea. Don’t worry, I’ll get her back at Christmas. But the biggest change, at least for the sake of this Read More […]

Dec 032014
 

Tweet This week’s post is about esoteric investing philosophy and decision-making using two CEOs as comparables. Last week, I wrote that it is necessary to invest strategically, particularly in investments that are difficult to quantify (although I would rephrase that specific point in my last post, the spirit would remain the same).  It is on this point that I would like to explore further this week by using the allegories of current Amazon CEO Jeff Bezos and former Enron CEO Jeff Skilling. Jeff Bezos was a New York investment banker Read More […]

Dec 012014
 

Tweet   Financial Uproar: where else can you get totally non-topical pictures of obscure 80s references? In case your head is so far up your own ass that you haven’t been paying attention, the price of oil is getting crushed. After hitting a peak of nearly $110 per barrel in the summer, oil has been falling faster than my self esteem while watching the latest Channing Tatum movie. DAMN HIM AND THOSE PECS. As I type this, the price of a barrel of crude is flirting with $65. That’s bad, Read More […]

Nov 282014
 

Tweet   HEY. THAT’S TODAY. If you’re one of my several American readers, first of all, congratulations. Not just because you’re reading the greatest blog in the history of the universe (TM) but because you’ve waded through more Canadian jokes than an episode of The Rick Mercer Show to get to this point. That takes a special kind of dedication. For you special readers, yesterday was Thanksgiving. (Aside: I saw somebody tweet “if you celebrate Thanksgiving, have a great one.” Who in the 9th circle of hell doesn’t celebrate Thanksgiving? An Read More […]

Nov 262014
 

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, her accountant, to discuss her finances.  Bob informed her that she made $80 000 over the year.  Jane was happy and they both said goodbye. On January 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 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 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 […]