Today’s bits: Billionaire Cab Driver, Airlines to offer up to $10K for bumps; Six hour workday;

A billionaire cab driver? Getting bumped from your flight for $10,000? More issues for United Airlines as couple suggests they were tossed off a flight… oh, to make matters worse, the couple was flying to their own wedding. Thinking about adding commodities to your portfolio? Think again. Thinking about where to invest your money? You could follow the money… Over 8 times as much money has gone to one mutual fund house than to every other house, combined.

Airlines

A couple says they were kicked off a United flight on the way to their wedding – Kind of a strange story — which the airline is refuting — about a misunderstanding regarding seating.

United Airlines is changing its policy on booking its own flight crews onto its planes following the recent fiasco in which a man was forcibly dragged off an overbooked flight to clear a seat for an airline employee. The airlines said that it will ensure that crews riding on its aircraft as passengers are booked at least 60 minutes before departure, avoiding the removal of passengers from their seats after already boarding the plane.

Bumping fees increasing – Competing airlines are following with their own changes; Delta customer service agents are now authorized to pay as much as $2,000 to a passenger who gives up a seat, while a high-level supervisor can pay out as much as $9,950 in some cases. Meanwhile, a couple on the way to their wedding this weekend claims they were kicked off their United flight.

Investing

Vanguard Is Growing Faster Than Everybody Else Combined – More money going into Vanguard than other mutual fund providers. How much more: “In the last three calendar years, investors sank $823B into Vanguard funds, the company says. The scale of that inflow becomes clear when it is compared with the rest of the mutual fund industry – more than 4,000 firms in total. All of them combined took in just a net $97B during that period, Morningstar data shows. Vanguard, in other words, scooped up about 8.5 times as much money as all of its competitors (combined).” Clearly, individuals and corporations are seeing the advantages of avoiding high fees. Of course, other brokerage houses offer low fees as well, but Vanguard seems to be the broker of choice for many.

Speaking of fees, Calpers Is Sick of Paying Too Much for Private EquityThe largest public pension fund in the U.S. is studying dramatic changes in how it invests in private equity that would slash payments to Wall Street managers, according to people familiar with the matter. Pension fund’s private-equity returns were 12.3% over 20 years, but they would have been 19.3% without fees and costs.

Thanking about adding commodities to your portfolio, Think again! – “People still believe they should be buying commodity futures,” Mr. Harvey, a Duke University finance professor says. “I feel the obligation to correct that misperception.” The professor is making a career out of challenging research backing the products firms pitch to investors. A lot of it, he says, just isn’t sound. His studies have shown that more than half of all research pumped out by both academics and analysts is, in his words, “likely false.” Mine enough data, and you can find a result that backs up your idea, Mr. Harvey says.

Money

6 Things Every Smart Woman Knows About Money  – Competing priorities can make it really hard to manage your money. Maybe you still need to build six months of take-home pay in an emergency savings account. You might have student loans or credit card debt.

How the Six Hour Workday Actually Saves Money – The nurses — a group in Sweden that was studied — working six hour days reported having more energy and less stress during the trial. Research found that people who feel good about their employer deliver better results at work. “You’re going to be a better nurse when you have good feelings about your employer.”

Billionaire Cab Driver

Billionaire cab driverThe secrets of how to save money – Billionaire Cab Driver is an easy-to-read financial primer that reveals all of the secrets of personal financial planning that should have been taught to everyone in school. So how did a cab driver from the small Polynesian Island of Kiki Loa become worth over $20 billion? That is what Dan Langston, and hundreds of other reporters, all wanted to know! Fortunately for Mr. Langston (and you), he won the rights from Mr. Kane to report his remarkable life story . . . and Billionaire Cab Driver is the result.

Personal financial manager Jody Tallal explains, in his brand new book “Billionaire Cab Driver: Timeless Lessons for Financial Success,” the importance of those few pennies or dollars. “You have a finite amount of money that you’re going to receive every year,” Tallal said in an interview on “Revealing the Truth” with Rabbi Eric Walker. “Now, I don’t know what that is, but I can promise you on the last day of the year it won’t be one penny more or less than what it is.

 

 

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