Pennywise - Dollar Foolish? PDF Download

Author: Maryland Center for Public Broadcasting
Publisher:
ISBN:
Category : Budgets, Personal
Languages : en
Pages : 24

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Author: Nautilus Financial Strategies Staff
Publisher:
ISBN: 9780983328407
Category :
Languages : en
Pages : 44

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Our world is filled with myths about money and retirement planning that are confining people to their utmost financial potential. Don't Be Penny Wise & Dollar Foolish by Andrew McNair candidly discredits common financial misconceptions and imprudent institutions.

Author: Andrew McNair
Publisher:
ISBN: 9781461133339
Category :
Languages : en
Pages : 40

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Our world is filled with myths about money and retirement planning that are confining people to their utmost financial potential. Don't Be Penny Wise & Dollar Foolish by Andrew McNair candidly discredits common financial misconceptions and imprudent institutions.

Author: Utpal Bhattacharya
Publisher:
ISBN:
Category :
Languages : en
Pages : 45

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This paper provides evidence that stock traders focus on round numbers as cognitive reference points for value. Using a random sample of more than 100 million stock transactions, we find excess buying (selling) by liquidity demanders at all price points one penny below (above) round numbers. Further, the size of the buy-sell imbalance is monotonic in the roundness of the adjacent round number (i.e., largest adjacent to integers, second-largest adjacent to half-dollars, etc.). Conditioning on the price path, we find much stronger excess buying (selling) by liquidity demanders when the ask falls (bid rises) to reach the integer than when it crosses the integer. We discuss and test three explanations for these results. Finally, 24-hour returns also vary by price point and buy-sell imbalances are a major determinant of that variation across price points. Buying (selling) by liquidity demanders below (above) round numbers yield losses approaching $1 billion per year.

Author: Siva Nara
Publisher: Wise Pen Corp.
ISBN: 0975320807
Category :
Languages : en
Pages : 448

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Author: Utpal Bhattacharya
Publisher:
ISBN:
Category :
Languages : en
Pages : 40

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The left-digit effect is defined as when a change in the left-most digit of a price (e.g., 7 to 6 when $7.00 drops to $6.99) dramatically affects the perception of the magnitude. Using a random sample of more than 100 million stock transactions, we find excess buying by liquidity demanders when the price starts above an integer and then drops below the integer. Conversely, we find excess selling by liquidity demanders when the price starts below an integer and then rises to the integer or above it. This is true under three buy-sell ratio measures, in multivariate regressions with various controls, and in multiple robustness checks. We consider the left-digit effect and two other possible explanations that are not mutually exclusive. We test which of the three explanations predominates. We find that liquidity demanders who buy when the price falls below an integer or who sell when the price rises to an integer earn lower 24-hour returns than other benchmark liquidity demanders and, in aggregate, lose $350 million per year. This finding plus two other findings suggest that the left-digit effect predominates over the two other explanations.

Author: Richard Skolnik
Publisher: Macmillan Reference USA
ISBN: 9780684186238
Category : Money
Languages : en
Pages : 236

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Author: Ali Vaidya
Publisher:
ISBN: 9780981257501
Category : Business & Economics
Languages : en
Pages : 128

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Author: Hyok Y. Lee
Publisher: Xlibris Corporation
ISBN: 1479700282
Category : Philosophy
Languages : en
Pages : 239

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There are two grades of human beings, high and low. Their grades have nothing to do with material wealth, title etc... But have something to do with character wealth. These character grades determine whether one is likeable or not, and if one lives a happy and meaningful life or not. High grades enrich other's lives while low grades tire and bore others. High character grade doesn't mean "perfect" but is the one and probably the only one important factor in life. Not only in relating to others but also in relation to oneself. Material wealth doesn't matter much once economic independence is achieved, but character wealth matters most in life. For instance, high grades are always suffi cient in life no matter what, while low grades are always insuffi cient. Not only that, you always have to be careful of low grades since they are opportunistic and manipulative, therefore using others. While high grades are genuine, therefore enriching not only other's lives but also their own lives.

Author: Helaine Olen
Publisher: Penguin
ISBN: 1101575301
Category : Business & Economics
Languages : en
Pages : 304

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Book Description
If you’ve ever bought a personal finance book, watched a TV show about stock picking, listened to a radio show about getting out of debt, or attended a seminar to help you plan for your retirement, you’ve probably heard some version of these quotes: “What’s keeping you from being rich? In most cases, it is simply a lack of belief.” —SUZE ORMAN, The Courage to Be Rich “Are you latte-ing away your financial future?” —DAVID BACH, Smart Women Finish Rich “I know you’re capable of picking winning stocks and holding on to them.” —JIM CRAMER, Mad Money They’re common refrains among personal finance gurus. There’s just one problem: those and many simi­lar statements are false. For the past few decades, Americans have spent billions of dollars on personal finance products. As salaries have stagnated and companies have cut back on benefits, we’ve taken matters into our own hands, embracing the can-do attitude that if we’re smart enough, we can overcome even daunting financial obstacles. But that’s not true. In this meticulously reported and shocking book, journalist and former financial columnist Helaine Olen goes behind the curtain of the personal finance industry to expose the myths, contradictions, and outright lies it has perpetuated. She shows how an industry that started as a response to the Great Depression morphed into a behemoth that thrives by selling us products and services that offer little if any help. Olen calls out some of the biggest names in the business, revealing how even the most respected gurus have engaged in dubious, even deceitful, prac­tices—from accepting payments from banks and corporations in exchange for promoting certain prod­ucts to blaming the victims of economic catastrophe for their own financial misfortune. Pound Foolish also disproves many myths about spending and saving, including: Small pleasures can bankrupt you: Gurus popular­ized the idea that cutting out lattes and other small expenditures could make us millionaires. But reduc­ing our caffeine consumption will not offset our biggest expenses: housing, education, health care, and retirement. Disciplined investing will make you rich: Gurus also love to show how steady investing can turn modest savings into a huge nest egg at retirement. But these calculations assume a healthy market and a lifetime without any setbacks—two conditions that have no connection to the real world. Women need extra help managing money: Product pushers often target women, whose alleged financial ignorance supposedly leaves them especially at risk. In reality, women and men are both terrible at han­dling finances. Financial literacy classes will prevent future eco­nomic crises: Experts like to claim mandatory sessions on personal finance in school will cure many of our money ills. Not only is there little evidence this is true, the entire movement is largely funded and promoted by the financial services sector. Weaving together original reporting, interviews with experts, and studies from disciplines ranging from behavioral economics to retirement planning, Pound Foolish is a compassionate and compelling book that will change the way we think and talk about our money.