Category Archives: Random

Don’t Confuse Value and Sunk Costs

Yesterday, I was in the middle of “intense” negotiations regarding a fantasy football trade and I was quickly reminded about a Warren Buffett quote that is often repeated.  It was from the Berkshire Hathaway 2008 Annual Letter, Long ago, Ben Graham taught me that “Price is what you pay; value is what you get.” Whether we’re talking about… Continue Reading

Random Thoughts About My Trip to Disney World

I got home from my 6 day 5 night trip to Disney World in Orlando a few hours ago.  I was there with The Wife, The Boy and both grandmothers (they had a separate but adjoining room), and we met another couple and their two kids down there.  Our itinerary was pretty packed and very… Continue Reading

Why Would Anyone Own a Money Market Account?

I was reviewing a client file the other day when I saw a line item on their balance sheet that I don’t often see today – a sizable money market account.  It may be a product of the unprecedented interest rate environment we are currently living it, but I am not sure why anyone has… Continue Reading

Do you have a Spending Cap with Your Spouse?

I was on my way to celebrate my brother’s promotion within the FDNY to lieutenant when The Wife called me to tell that she bought a bed for our son, but not to worry “she saved a ton.”  It took me a minute to calm down and figure out what was happening.  I originally thought that… Continue Reading

What’s the Difference Between Being Rich and Wealthy?

I remember this question being asked in one of my introductory economics classes when I was in college.  Being that everyone was 18 to 20 years old no one had a good answer.  I won’t pretend the answer changed my life because to be honest I didn’t even think about it until recently.  The answer… Continue Reading

Doesn’t Anyone Ask Why Do “they” Need My Money?

Last week I saw possibly the most infuriating show I have ever seen on CNBC called “Money Talks.”  It is about the owner of a sports gambling consultant business. The owner Steve Stevens (obviously not his real name) claims to be a 20 year sports handicapper winning somewhere between 60% and 71.5% of his bets.… Continue Reading