Respectfully,
Y.C.

France’s biggest bank BNP Paribas, which has triggered a sharp plunge in the Indian and other global equity markets in the past two days, on Friday purchased shares worth Rs 20.46 crore in a single company here in India. BNP Paribas Arbitrage, a foreign fund promoted by the French banking giant, acquired 1.65 lakh equity shares in Northgate Technologies at Rs 1,240 per share in a bulk deal at the Bombay Stock Exchange. The BSE sensex have witnessed a plunge of 440 points in the past two days, while the stock markets in the US and Europe have also seen sharp decline in the two days, primarily on fresh sub-prime concerns triggered by BNP Paribas’ move on Thursday to suspend withdrawals from three mutual funds. It has freezed withdrawals from three of its mutual funds with assets worth $2.2 billion due to their exposure to the US subprime market.

I found her portfolio to be the most revealing. I have never been a big fan and don’t necessarily think her advice is the best, but her advice is far better than no advice at all.

I think her portfolio is more conservative than it needs to be, but in her case it is large enough and meets her needs. I suppose if you had $50,000,000 and you chose to keep it locked in vaults instead of gaining interest under the premise that you have more than you’ll ever need, you’d be okay in doing that. It doesn’t necessarily mean it is the best choice to make however.

lackadaisi: Note that in the original article, Mr. Jaffe intentionally sidestepped the “gay planner = bad planner” issue by quoting the founder of Pride Planner group, who was critical of Suze.

I, for one, think Suze is at least living her own advice. I’ve seen her basically give advice to people with million-dollar inheritances or settlements to do exactly, as it turns out, she has done.

[...] a single post to it.  However, after browsing Get Rich Slowly in my RSS reader i came across this post.  Liz Weston is writing a guest post for JD discussing whether she follows her own personal [...]

[...] a single post to it.  However, after browsing Get Rich Slowly in my RSS reader i came across this post.  Liz Weston is writing a guest post for JD discussing whether she follows her own personal [...]

Personal Finance Roundup…

• Confessions of a Personal Finance Guru [Get Rich Slowly] “I always wonder just how personal finance gurus lead their lives. Do they really follow the advice they give?” • Why Trading Costs Matter [Kiplinger] “Trading costs have long been…

Likewise taking advice from your peers that are in the same row boat is similarly pointless. Why would you listen to your neighbor who is in your same shoes? I think the notion of telling people to do as you do is foolhardy on its face. She would then only be talking to mega millionaires, where is the market for that?

I think financial gurus encourage people to pick their own stocks and invest in the market instead of safe bonds because they always want more money going into the market to increase the returns of their own portfolio.

[...] Confessions Of A Personal Finance Guru Liz Weston wrote a guest post in which she pulls back the curtain a bit – a nice little column. (@ get rich slowly) [...]

I was especially happy to see you advocating for credit unions recently over on MSN. I’ve been a member of a CU for probably 15 years and love them. Recently we opened an account at BofA, figuring that the convenience of a branch two blocks from home might come in handy. I was frankly appalled at the policies, fees, and sales pitches (trying to get me to open a credit card account as “overdraft protection”? No way!) After a few months I realized that their “electronic transfers” to my credit union account involved cutting and snail-mailing a check, I was so out of there.

Count me the old car club too. We’re driving a ’95 Corolla with 80K (you read that right). Bought it used two years ago, paid cash, hope to keep it forever.

Keep up the great work! Thanks for coming by!

Amen to that. Experts and gurus sometimes give advice that’s not practical for people who are less fortunate (or just starting out).

The irony is that when you have Suze’s net worth, you can afford to be pretty conservative. The rest of us need to keep our money working for us in the markets if we want to retire.

Personally, I don’t try to time the market and I don’t think it’s a good strategy for most individual investors, either. I’m much more a fan of figuring out a target asset allocation, rebalancing to that allocation once a year, and getting on with life.

If you are doing the right things with your money in the first place, you can surely afford a little luxury every now and then!