Blog Category: Money

Why Colleges Are Going Down the Drain: A True Story

FIRST… THE THREAT! Her college sent this email to me and my daughter at the end of her second year. Dear [X], This in an IMPORTANT email reminding you of your debt…

FIRST… THE THREAT! Her college sent this email to me and my daughter at the end of her second year. Dear [X], This in an IMPORTANT email reminding you of your debt to [ABCD College] in the amount of $16.92! This amount is your damage fee you were assessed back in May. It is VERY […]

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This Is Your Brain on Stock Market (Part 4 of 4)

It was 2:32 p.m. May 6, 2010. $1 trillion dollars disappeared within minutes. I couldn’t believe it. I was looking at the market. I was looking at my bank account. I thought…

It was 2:32 p.m. May 6, 2010. $1 trillion dollars disappeared within minutes. I couldn’t believe it. I was looking at the market. I was looking at my bank account. I thought I was having a heart attack. What. The H***. Is Happening? I called someone and I think I started to cry. Years later, […]

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This is Your Brain on Stock Market (Part 3 of 4)

I hate to think. And I hate emotions. I used to think I was smart. I’d make a trade and it would immediately go against me and I’d be miserable. I’d sit…

I hate to think. And I hate emotions. I used to think I was smart. I’d make a trade and it would immediately go against me and I’d be miserable. I’d sit and look at the screen and feel the blood pumping all through my body. “Take a break,” another trader told me. I would […]

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This Is Your Brain on Stock Market (Part 2 of 4)

Our brains are messed up. Daniel Kahneman, the Nobel Prize winning economist, calls the ways we are messed up “cognitive biases.” Our cognitive biases make us sell stocks whenever everyone else is…

Our brains are messed up. Daniel Kahneman, the Nobel Prize winning economist, calls the ways we are messed up “cognitive biases.” Our cognitive biases make us sell stocks whenever everyone else is selling. Cause us to buy stocks when everyone else is buying. This is called “herd behavior.” Another cognitive bias is called “loss aversion.” […]

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This Is Your Brain on Stock Market (Part 1 of 4)

I was scared and I needed to make a lot of money. This is what happened. It was a beautiful day. No clouds. A deep blue morning. The best day. The stock market looked like…

I was scared and I needed to make a lot of money. This is what happened. It was a beautiful day. No clouds. A deep blue morning. The best day. The stock market looked like it was going to open higher. I ate breakfast at the Dean & Deluca on the bottom floor of the World Trade Center. […]

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I Threw Out All of My Belongings and Then This Happened…

I threw out all my belongings. I was living in Airbnbs. I had one carryon bag that had one or two outfits and a computer and a toothbrush in it. My rule…

I threw out all my belongings. I was living in Airbnbs. I had one carryon bag that had one or two outfits and a computer and a toothbrush in it. My rule was, if I bought anything, I had to throw something from the bag out. I lived this way for three years. I would […]

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The 9 Reasons Most People Won’t Become Millionaires

I met a girl in an elevator and asked her out on a date. This was between marriages. The first thing she asked me on our date was, “How much are you…

I met a girl in an elevator and asked her out on a date. This was between marriages. The first thing she asked me on our date was, “How much are you worth?” I had made and lost millions but nobody knew at that time what I had. I lied. I said, “$1 million.” But […]

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