Once again I find my attention drawn to the Federal Reserve and the impact of this greatest monetary experiment in history. Back in the late 1970s, while majoring in economics at Stanford, I took a quarter of directed learning with a professor on the topic of “Money and Banking”. I’m not sure exactly why, at age 21, I found the topic interesting enough to pursue in depth.
Sadly one of the co-authors of The Millionaire Next Door was killed in an automobile accident this last March. While most people probably are not familiar with the name Thomas Stanley, millions have read the book he co-wrote with William Danko in 1996.
Brief and to the Point
Darn, John’s article about time puts me on the spot to respect your time commitment in reading this article. I will attempt to be brief, but I will also use headings liberally to break out the different sections so you can jump to whatever interests you the most.
If you had to answer the question “What is your most valuable investment or asset class” what would you say? If you asked your friends and family, how would they respond? They may rattle off some hot stock they recently bought like Tesla, Apple, Facebook, or Netflix. You may respond that your career, company stock, or large U.S. stocks are the most valuable investments.
Last month I deviated a bit from my usual path in my articles to simply expound on what I’m watching and what I find interesting in the markets and economies around the world. While it was nice to get some positive feedback,it was strongly suggested that I shorten my comments but write more often.
To be honest, I’ve been working and reworking this article for several weeks as I hoped to start the new year with something very erudite, very impactful, and memorable while also helping our readers to better manage their own finances. The truth is it seems like everybody has said whatever I want to say elsewhere and probably better.