Free download of David Chiltons the Wealthy Barber Returns. No strings attached. An entertaining read about spending vs saving, and what drives consumption habit.
Available till end of this year only.
For me, the value of this thread isn't to debate saving vs consumption, but more importantly to make sure the savers are doing so w/o getting hosed. The spenders are over in the Gear forum and shopping for new carbon, so why they high-horse Mint tips etc here?
The real debate is between the folks like Chilton and the more capitalistic folks betting on volatility, using leverage and taking on RE debt etc. For past 8-10yr+, there's been a huge opportunity cost of being that risk monger conservative bear that calls for the bubble burst. They've left a ton of money on the table. So much so, that even if there's a 20% correction in the coming year(s), the non-bears will still be ahead on returns as compared to the renters trying bonds and long term deposits.
Giving advise like Chilton is really a period-piece. The idea of a REIT ETF wasn't around during the time he penned the Barber, so I don't fault him.
Of course, it can get out of hand (think:Synthetic Credit Default Swap)….so our task is to not repeat the past when the S[HTML_REMOVED]P is at record highs.
So what's your strategy? Are you a value investor? Do you short certain sectors or are against any derivative investment products? Are you doing any currency hedging based on where you think the loonie is headed?