Today’s bits: Everything old is new again

Image source: Flickr/Andy

Quote of the Day

Charlie Munger, the 93-year old second-in-command to Warren Buffett at Berkshire Hathaway, who has never been one to pull any punches offered his commentary regarding President Trump:

He’s not wrong on everything. And just because he isn’t like us, roll with it. If there’s a little danger, what the hell, you’re not going to live forever anyway. (Reuters)

Here’s the entire two-hour presentation:

Today’s Bits

  • Every old is new again – Retailers are struggling as sales of used clothing is all the rage online. The U.S. volume of items being traded online has more than doubled since 2013, with the market topping $2 billion. (WSJ)
  • Lumpy vs. smooth – Congratulations, you just received a huge windfall of cash. Which makes more sense (and dollars): investing your money all at once in a lump sum or investing over that money time via dollar cost averaging. The results may surprise you. (Money)
  • What about Bob? – Meet Bob. Bob may be the lumpiest of investors, with lousy timing to boot. When it comes to trying to time the market, Bob may be the worst investor in history. Bob, a fictional character, only invested his money when the stock market was hitting all-time highs. He invested his money just before the financial crash in 2008/09 and several other notable points in recent history. How did things work out for Bob? Eventually, it all worked out, but Bib sure took his lumps. You may not be able to time the market, but given enough time, it all works out. If you are going to make investment mistakes, make sure you are biased towards optimism and not pessimism and that you have a long-term horizon. Long-term thinking has been rewarded in the past and unless you think the world or innovation is coming to an end it should be rewarded in the future. (A Wealth of Common Sense)
  • This is the future of financial advice – The rise of automation has been a conversation starter on Main Street and Wall Street alike, with high-tech replacing highly-paid jobs in everything from manufacturing to financial advice. (Your Money)
  • On the move – Many Americans are moving to these 10 cities. Go South young man!  (Business Insider)
  • Guide to 7 Top Tax Software Programs – The tax software business is getting as crowded as the cereal aisle at your local grocery store, and that’s good news for do-it-yourself taxpayers. New entrants are offering deals, forcing veteran players to up their game or lower their prices. (Kiplinger)
  • Free Food on Airplanes?! – “When we tested this concept, our customers loved it and appreciated it so we are implementing in our most strategic markets…” Don’t be surprised if a few months later people begin complaining about the quality of the free food. (Consumerist)
  • Your new retirement options: Work longer or save a lot more – You’re likely going to live longer than you might think. 56.4% of all 50-year-old women are expected to live longer than their life expectancy of 83 years, and, similarly, 55.4% of all men are expected to outlive their expectancy, according to the Social Security table. That may seem a bit odd, but it’s because the distribution of ages when people are expected to die is not a nice normal distribution. It is a skewed distribution with more people living longer than dying early. (MarketWatch)
  • Percent of UW-Madison graduates who take on student debt decreases (
  • The City that never sleeps – Senator Scott Wiener, a California State Senator from San Francisco, has introduced a bill that would allow bars to serve alcohol until 4 am, leaving the decision up to local jurisdictions. No matter the outcome of the latest effort, bar patrons can take comfort in knowing it could be worse. Last call in Utah: 1 am. (Scott Weiner)

Chart of the Day

Infographic: America Is The Realm Of The Robo-Advisor | Statista You will find more statistics at Statista

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