Michael Lewis has another one
Dec 27th, 2007 by Nut
One of my favorite authors/people/writers has another new one out, this time an article in Portfolio magazine called “The Evolution of an Investor.”
It’s a really interesting profile of a guy named Blaine Lourd and how he went from Wall Street trader to joining a cult-like organization called DFA.
As all Lewis pieces, it’s very interesting and especially for those of us that are into finances and investing in the stock market. This guy Lourd has been into the trenches and he has some advice for us—the individual investors:
“I tell them, ‘Look, if you can control your own emotions and you want to go to Vanguard, you should do it.’ “
Ah, Vanguard. I will join you soon. But not yet.
It kind of reminds me of this other article about Jim Cramer and how he has his TV show where he entertains and then his books sometimes seem to give contradicting advice to people like us. His books, surprise surprise, contain the responsible, sensible information, while the show is mostly entertainment. The bad thing is most people would rather watch TV than read, and so they’ll get the entertainment, not the good advice, and move on from there.
The article says, “For most people, however, he advises low-fee stock index funds.”
Which has now become synonymous with Vanguard.
Open an ING account and get a $25 bonus!
The Wire, Season 3