Here's our end-of-the-work-week collection of interesting reads on investing, personal finance, and stewardship.
- Buffett has one big investing lesson in this year's annual letter: Never borrow money to buy stocks (CNBC). The "Oracle of Omaha" issued his 2018 investor letter a few days ago. As usual, it's filled with quotable quotes and sage advice.
- The (long) list of financial documents you should keep (The New York Times). The new tax law (likely) means you'll no longer need to document quite so many details about your finances. But still, there are things you need to keep track of — including items going back several years.
- Citigroup is refunding $335 million to credit card customers (Bloomberg). Ever make a calculation error but not find out about it until much later? It happens to big banks too.
- This is what life without retirement savings looks like (The Atlantic). A sad account of people who, for various reasons, didn't prepare financially for their later years. "Increasingly, we're seeing folks who are becoming poor for the first time in old age."
- The financial advice Billy Graham liked to give (MarketWatch). Mr. Graham's positive influence was so pervasive that even the financial press has taken notice of his passing.
And from the pundits and bloggers...
- Dow vigilantes (Ed Yardeni, Dr. Ed's Blog). S&P 500 companies posted huge earnings per share during the final months of 2017. Economist Yardeni predicts the new tax-rate reduction will propel earnings even higher this year (unless the Trump tariff throws things into turmoil).
- 22 reasons President Trump should rethink steel/aluminum tariffs (Mark J. Perry, AEIdeas). Lots of negative reactions to the president's trial balloon on tariffs.
- Obvious things that easily escape attention (Morgan Housel, Collaborative Fund). Housel is at his best here, pointing out hugely important things (financial and otherwise) that individuals, businesses, and entire societies typically fail to pay attention to.
- Why financial flexibility is the next best thing to financial independence (Pretend to Be Poor). Good questions: "How easily could you weather a job loss or unexpected illness? Could you say 'yes' to travel, moving, or giving opportunities that come along? In other words, can you touch your financial toes?"
- A man's place is in the home (John Jalsevac, Gilbert magazine, via LifeSiteNews.com). A thought-provoking piece about how our "default" outlook on home and work has been shaped (or misshaped) by the social and economic changes of the past couple of centuries.
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