I'm a member of a diverse group of people with a common interest. I've found that situation often leads to one or two people who are "a little too different" than the rest to be openly accepted. There was one guy in our group who always brought up really bizarre topics that the majority would consider extremely inappropriate. Other conversations seemed to lack what many would consider a grasp of logic. I think the group would consider him the most eccentric they've ever met. It got to the point where we wondered how it is possible he functions in day to day life.
One person was curious enough to ask him what he does for a living. We said that he was a trader and then proceeded to ask if he thought we were in a recession. This took everyone by surprise and a couple of people were a little unsure if we are in a recession or not. He then proceeded to explain briefly why he thought we were in recession. And everything he said made sense. I pressed him for his thoughts a little more and he went into the SocGen rogue trader, Ben Bernanke and how his performance has been, the rising price of gold, and his use of covered calls. His favorite investment, a specific ETF, is up 17% in 10 days.
Sometimes genius sneaks up on you... just like these links...
- The Digerati Life tries to get to the bottom of who is to blame for the subprime mess. My quick answer is pretty much everyone.
- Money Smart Life is outsourcing his taxes. We are doing the same. I just have too many special cases, military income, rental properties, side business income, etc.
- Generation X Finance wonders about the $42 million dollars the government is spending to inform tax payers about the stimulus package. It does seem like a waste, but I think they should communicate with people. Plus the money goes to the post office which isn't a bad thing, is it?
- Sun's Financial Diary explains why there is no platinum ETF. It seems to be the only thing that isn't an ETF nowadays.
- Free Money Finance asks if 401Ks are a bad deal. This is a discussion of a CNN Money article that mirrors my 5 reasons to throw away your 401k article. The Money magazine article doesn't seem to factor in freedom of investments. I still stand by the fact that if you don't get a match and the investment options in your 401k have heavy fees, you may be wise to explore other options.
- The Mighty Bargain Hunter answers a question from a Lazy Man reader - how to manage your taxes with a spreadsheet.
- No Credit Needed writes about his biggest financial regret. Here's a hint, it has to deal with taxes.
- Million Dollar Journey has a complete Smith Manoeurve resource that will be interesting to readers in Canada.
- I'd like to thank Jason Crewes for hosting the 5th edition of the Carnival of P2P Lending.
Image Credit: Sarah Ostrowalker
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