Tuesday, January 02, 2007

Two Fantastically Educational Stories on Money

I was genuinely affected by two stories about money I read today:

One is "American Roulette," Kurt Andersen's Imperial City column in this week's New York magazine. As Americans, we can do our share of generalized bitching and moaning about the rich getting richer and the poor getting poorer and spout off over expensive goblets of malbec about social stratification -- Lord knows I've done my share of that -- but Andersen's column is the most incredibly well-written and well-thought-out observation and call for change regarding our current economic problem that I've read in recent memory. It's poignant and filled with appropriate metaphor, and I wholly agree with him in the hope that someone will bring the country together under an umbrella of fairness and hope after the 2008 elections.

The second is a great Moneybox Slate article called "The Wall Street Self-Defense Manual" by Henry Blodget. Blodget comes off as equal parts curmudgeonly and time-strapped, but the tone works in this bare-bones, chart-illustrated guide to how not to waste your money when investing in mutual funds. Like most people new to investing, I think I know more about the market than I actually do, and this article was a nice wake-up call. In fact, thanks to Blodget, I'm currently panicking about the high-ish fees (just below what he would call "average") on two mutual funds I bought earlier this year. It's not to late to change it, of course, but damn it if I'm stubborn about admitting I was wrong.

(To buy these super-hottt money glasses -- Maureen Dowd mannequin not included -- collect $12 out of your couch cushions and click here.)

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