Four years ago I fell into the abyss that would come to be known as the Great Recession. In a matter of weeks, jobs were lost, paychecks vanished, and my lifestyle changed. Read more…
Category Archives: philosophy
Humans aren’t rational. So why should financial theories assume that they are? That’s the question writer Chelsea Wald posed in Crazy Money, in the Dec. 12, 2008 issue of Science. It’s a reasonable question, she explains.
Even the experts seem bewildered by the current economic crisis. Quantitative analysts (quants)–the whiz-kid financial engineers whose algorithms have dominated Wall Street trading in recent years–have watched those algorithms fail. Former Federal Reserve Chair Alan Greenspan acknowledged in October that there was “a flaw in the model that I perceived … defines how the world works.” Continue reading
A lot of factors affect commercial real estate. Just consider the potential impact of the ones in this video from a Sony executive conference in Rome last year–then answer, “How do I prepare for the next ten years?”
Trace Trajano, a Procter and Gamble engineer and real estate investor, has a novel way of dealing with the recession. He simply refuses to accept it. “A lot of it is a mindset, so if you think there’s a recession, then there is,” he argues.
Trajano has created a website called refusetojoinrecession.com. He describes it as a place for people succeeding in spite of the economy to share “stories, techniques, tips and strategies” about investments, assets or potentially profitable businesses. Continue reading
We’re inundated with bad news and even worse forecasts. Consider this uplifting assessment of the commercial real estate industry, posted recently on the Internet by Paul Craig Roberts, assistant secretary of the Treasury in the Reagan administration: Continue reading