May 22, 2013
They launched the 'Arab Spring' but now yearn for the good old days of a strongman
May 20, 2013
Richard A. Serrano: Is Meir Kahane's assassin now a changed man?
Genetic copies of living people from embryos no longer science fiction
Jewz in the Newz by Nate Bloom :
The Kosher Gourmet by Cathy Pollak:
Jews Inducted into Rock Hall of Fame; Anton Yelchin co-stars in New "Trek" film; Kutcher (but not Kunis) visits Israel; Jewish TV Star Praises Jewish Rap Star
WARNING: This WALNUT CAKE WITH PRALINE FROSTING, perfect for afternoon coffee, is addicting
May 13, 2013
Rabbi Nathan Lopes Cardozo: Why the giving of the document that would permanently change the world could only be done in desolation
David G. Savage:
Church-state, literally? Supreme Court weighing public school graduation in a church
May 10, 2013
Rabbi Berel Wein: Be all that you should be
May 8, 2013
Peter Ford: Why China is welcoming both Israel's Netanyahu and Palestinians' Abbas
Obama administration quietly backs out of appeal over new contraceptive mandate
At Kerry-Putin meeting, US-Russia relations thaw --- a tad
The Kosher Gourmet by Leela Cyd Ross :
Almost too pretty to eat, this colorful salad with Sicilian inspiration will tickle the taste buds and delight your visual sensibility
May 6, 2013
May 3, 2013
Kids, kittens the Same?
With employee perks at struggling Internet pioneer Yahoo! it's hard to tell
Artificial kidney offers hope to patients tethered to a dialysis machine
April 29, 2013
Poland's new Jewish museum celebrates life, doesn't revisit Holocaust
Terrorism in America: Is US missing a chance to learn from failed plots?
Boston Bomber's 'Svengali' Revealed
Tiny satellites + cellphones = cheaper 'eyes in the sky' for NASA
April 26, 2013
Clifford D. May:
Defense in the Age of Jihadist Terrorism
Sharon Palmer, R.D.:
How to feel your best -- with plenty of energy, a healthy weight and optimal mental and physical function -- without driving yourself batty
April 24, 2013
Jewish World Review
December 17, 2012/ 4 Teves 5773
Key to election --- stocks, not jobs
http://www.JewishWorldReview.com | (MCT)
Parents with children prone to snooping for presents aren't the only ones urging that. It's also the recommendation of Jack Bogle, founder of the Vanguard Group, who has just published his 10th book, "The Clash of the Cultures: Investment vs. Speculation," in which he offers 10 simple investment tips, including "Remember reversion to the mean" and "Buy right and hold tight."
(Buy the book for 34% off the cover price by clicking here or in KINDLE at a 50% discount, $14.99 by clicking here)
Most important, Bogle told me last week, investors should resist impulsiveness. "One of the worst mistakes investors make is paying too much attention to the daily ups and downs on Wall Street," Bogle said.
"All too often, we get caught up in the cacophony of the market and make impulsive, emotional, and simply bad investment decisions we feel the urge to buy after the market has risen up to the heavens, and to sell after it comes tumbling back to Earth.
"My simple advice is this: Turn off the TV, and don't pay much attention to the regular quarterly statements for your retirement plan. Maybe glance at them once a year, or every five years. And if you toss them all away until you retire, when you open that final statement after all those long years of saving and investing, you'll exclaim: 'Where did all that money come from?' You will be completely astonished by the size of your nest egg.
"More importantly, you will have saved yourself from all those potentially disastrous investment decisions along the way. Think about 'Don't Peek' as an important rule of long-term investing."
That's not the sort of advice you'd hear from a Gordon Gekko, the character from the movie "Wall Street" who said, "Greed is good." Bogle is more apt to say, "Stay the course." He didn't earn his reputation by beating the market. He developed an investment model that sought to keep pace with the market. (Critics actually said that was un-American!) And while his life's work has been about money, the man is not driven by wealth accumulation. At the height of his earnings, this proud Princetonian delighted in giving away half of his income to educational and charitable institutions.
So after 61 years in business, nine books, at least six heart attacks, and a heart transplant, what was left for him to say?
"There's a message there that I don't think anybody else or hardly anybody else is talking about," he told me. "Everybody knows our financial system is a mess, but nobody looks through to see what the data actually show. There is an overwhelming presence of speculation in the market that is crowding out long-term investment. The damage it's doing to our society is great."
Bogle's book offers many suggestions for changing our culture, one of which is to require shareholder approval for corporate political contributions. He also singles out a number of "gatekeepers" who have failed to protect investors, including Congress, the judiciary, the Securities and Exchange Commission, the Federal Reserve, rating agencies, accountants, the financial press, security analysts, directors, and stock owners.
Bogle saves his harshest condemnation for money managers, whose timidity he attributes to a fixation with salesmanship rather than stewardship and long-term governance. Bogle sees a corrosive conflict of interest in which the managers overseeing corporate pension funds, thrift plans, and 401(k)s also own stock in these entities. So "you don't want to offend the management," Bogle says, because "you might lose the account."
"There are only two kinds of clients we institutional managers don't want to offend: actual clients and potential clients," he explained. "And that's a lot of clients."
There is something very humble about Bogle. Time magazine may have said he was one of the 100 most powerful and influential in the world, but he never loses sight of the fact that he had a D-plus in economics and was close to dropping out of Princeton in 1948.
He pulled himself out of that early collegiate hole, but there was, he admits, a bit of luck involved in the path he followed from there the senior thesis he wrote "quite by accident" after reading about the emerging mutual fund industry.
"I never heard of it. I never had any money to invest," he says. "What we were doing was getting dunning notices from lending companies in my family. So I wrote my thesis about this little industry, tiny industry, tiny, but contentious as the magazine described it. And I got a job here in Philadelphia with Mr. Walter Morgan and the Wellington Fund. With a lot of bumps along the way, the rest is history."
Yes, the history of a rare breed in today's financial sector: a humble millionaire selling simple steps in a time dominated by complex counsel.
Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
Comment by clicking here.
Michael Smerconish writes for The Philadelphia Inquirer.
12/11/12 United Airlines' post-9/11 commitment to security rescinded?
11/01/12 Good reasons to revive draft
09/25/12 If Romney loses
04/19/12 Christie will get GOP nod in 2016
04/06/12 Romneys not only family with embarrassing stories
03/08/12 Here's an easy fix for King monument quote
02/28/12 Valor-medal lie as free speech
02/21/12 Now we know: Van Halen's M&M rider was just a test
02/14/12 Life inside the (class) bubble
02/09/12 Rethinking paths to wealth
01/17/12 Romney must face his work history head-on
01/11/12 Don't let those gift cards be a gift to retailers or the state
01/03/12 Headlines hoped for in 2012
11/09/11 Romney, beware: Cain may bob through the straits
11/02/11 Where there's ad smoke, there's … what?
10/20/11 After husband is murdered, 30 long years of phone calls
10/13/11 Black women should only marry out of their race?
08/31/11 Some political gaffes really say something
07/27/11 An overture of candidates' theme songs
06/28/11 Where's the app for common sense?
06/02/11 Over-scrutinizing lives costs us potential leaders
04/19/11 Taking a chance to say, Hi
04/06/11 Race policies should be altered to reflect new demographic reality
11/10/10 Delaware's independent, but short-lived, voice
11/03/10 Papers should leave endorsing to others
10/21/10 Media help to hype perception of bullying
09/23/10 Officer down, killer hyped up
08/04/10 Documents highlight Pakistan's shortcomings as a U.S. ally
07/06/10 On taking back Sept. 11
06/29/10 Name elite corps to develop energy independence?
04/21/10 New account reinforces a serviceman's valor
03/11/10 Medical profession must police itself better
02/18/10 One-trick athletes
02/09/10 Active, retired law officers should be able to carry guns on planes to help stop terrorists
02/04/10 How to bring tech up to speed
01/28/10 Campaign donations must be fully and immediately disclosed online
01/07/10 The flying emperor still has no clothes, and no one is willing to say so
12/24/09 A law to mandate college football playoffs?
12/17/09 Cheney's abuse of freedom of speech
11/26/09 The true cost of freedom from anxiety
10/27/09 If GOP wants to win in 2012, it must reshape its primary process
10/08/09 It's time to get smarter on extended school day
09/03/09 What a summer of eulogizing flawed public figures reveals about society
08/12/09 It's time for cyclists and motorists to reconcile
08/05/09 Faces have changed, but vitriol remains
06/25/09 Fair comment or foul? Warm up the Muzzle Meter
06/08/09 Believability is key in crime-hoax villains
05/14/09 Did Hollywood inspire the meltdown men?
04/20/09 Let's give killers their due: Anonymity
03/12/09 Uninsured who can't afford medical care lose a lot more
02/06/09 My debate with Musharraf on hunt for bin Laden
01/29/09 Torture must remain an option
01/15/09 Making a case for suing Madoff
12/22/08 A difficult but rational chat about plans
12/17/08 Facebook epidemic: More than 120 million have joined, many too old for this nonsense
12/01/08 The high price of downsizing the news biz
11/14/08 Prescience on greed, arrogance of a system
09/29/08 Closer look at party lines
08/26/08 Obama's pick creates GOP opportunity
08/21/08 Fishing with the Angry Everyman
07/31/08 The perils of e-mail: Ponder, then click
05/22/08 Two very different sides of the Internet
02/12/08 Sublimely ridiculous suits
11/28/08 Cell phones cut out secondary circle of kinship
09/26/07 What do we owe those who have died in Iraq?
08/30/07 A Navy SEAL's gut-wrenching tale of survival
07/30/07 First it was a faux pas, now it's a new word
© 2008, The Philadelphia Inquirer Distributed by McClatchy-Tribune Information Services
Richard Z. Chesnoff
Frank J. Gaffney
Victor Davis Hanson
A. Barton Hinkle
Judge A. Napolitano
Cokie & Steve Roberts
Debra J. Saunders
J. D. Crowe
Ask Doctor K