LIVING OFF DIVIDENDS & PASSIVE INCOME

I just read The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor–and Why You Can Never Buy a Decent Used Car! by Tim Harford.

Its an incredibly good book that explains every economics [like whether coffee shops make a profit and how grocery stores gouge you]. However the author sticks to the basic micro-economic trends and tries to explain how some of them affect the global economy.

It doesn’t have any graphs or equations and you don’t need any math to understand it. Pretty well explained. But it is a little dry and isn’t as entertaining as Freakonomics: A Rogue Economist Explores the Hidden Side of Everything. But from an investment or financial understanding perspective its a lot more useful.

I strongly recommend it for anyone interested in how a free-market economy should work.

• Top 10 Reasons Why You're Not Rich Thestreet.com has a good article on Why you're not rich.Here's the summary:You Care What Your Neighbors ThinkYou Aren't PatientYou Have Bad HabitsYou Have No GoalsYou Haven't PreparedYou Try to Make a Quick BuckYou Rely on Others to Take Care of Your MoneyYou Invest in Things You Don't UnderstandYou're Financially AfraidYou......
• Its Machiavelli's Birthday The world's first management guru, Nicollo Machiavelli was born on May 3rd 1496 near Florence, Italy. He was politician, philosopher, poet and musician. He's most famous for his book The Prince, whose central argument is commonly believed to be 'the ends justify the means'.A really entertaining book on Machiavellianism (which......
• Selecting a Brokerage account The Wall Street Journal had a nice article on Opening Your First Investment Account.Don't just open your account with anyone offering you a free IPOD.Although free IPOD's are great, its not necessarily in your best interest.Figure out how much hand-holding you require.Do you need to go full-service[full commission] or discount......

• So Why are Economists Behind the Wheel? You knew that eventually there would be open verbal warfare among experts in economics and finance about how to predict and intervene in a bad economy. This cover story in Business Week describes the battles that are now waging. I think the article is worth reading so here is a little......
• Porn:  Some Industries Are Recession Proof (Safe To Read At Work) Note: I use porn and adult entertainment interchangeably.  Also, there are no pictures because it's impossible to find something worth publishing without screening millions of photos that shouldn't be. The Weakonomist doesn't really like to talk about adult topics.  But I'm making an exception because today it makes for an......
• Restoring Antique Books Maintaining the integrity of old books that are considered to be archives, historic or heirlooms can be a challenging task given the wide variety of elements and types of situations that are capable of causing damage to them. Fire, water, mold and smoke are all elements and situations that are......

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