Monthly Archives: March 2008

Selecting a Mutual Fund

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I’ve come across Harry Browne, who is no longer with us, but wrote a very insightful newsletter over the years.

Harry Browne was an American free-market Libertarian writer and the Libertarian Party’s 1996 & 2000 candidate for President of the United States. He was also a well-known investment advisor for over thirty years, author of “Harry Browne’s Special Report” — a financial newsletter published from 1974-1997, author of 12 books and thousands of articles, Co-founder and Director of Public Policy of the libertarian Downsize DC Foundation, host of two weekly network radio shows — one a political and the other a financial show, host of an ETV (internet-based television) show called “This Week in Liberty with Harry Browne” on the Internet based Free Market News Network, a consultant to the Permanent Portfolio Family of Funds, and a popular inspirational public speaker.

I’ve been reading a collection of his works complied into one, Harry Browne’s Investment Strategy –Bookstore As I go through his and other’s work I’ll be posting summaries of what I got out of their work. Most likely I’ll end up taking the various viewpoints and putting them together.

So, on to the title of the post.

    Selecting a Mutual Fund

  1. Define the investment purpose to be served by the funds you buy.
  2. Find the funds whose investment policies match your purpose.
  3. Of these funds, narrow the field to those that whose records live up to their policies.
  4. Eliminate those funds that don’t stay 100% invested.
  5. Of the funds remaining, select those that pay the smallest dividend.

Foreclosures Suspended

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So, it seems that Philadelphia is the first US city to halt foreclosures. Hmmm… Reuters Article Perhaps this is the calm before the storm. If we have seen the worst of the subprime mess I think we are gravely mistaken and kidding ourselves.

If foreclosures are halted what does this mean for the financial system? Obviously the banks won’t be getting paid because the homeowners are foreclosing due to the inability to pay. Therefore, banks can’t liquidate homes nor do they get paid so the situation spirals out of control. This might help keep housing prices from completely falling through the floor because they won’t be on the market, but again I’m not optimistic.

Okay so people can’t pay their mortgages, won’t be able to borrow any money unless it is on their almost already maxed out credit cards, which will eventually end up in default as well once they lose their jobs.

Again this is complete speculation, but I don’t see how it can be that farfetched.

It begins!

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Here it is, for the first time ever my website chronicling my trials and tribulations about pursuing a career in finance. Will I work for a large firm go on my own or…. only time will tell. I can’t say what future posts will be like except my opinion on the past, present, and future. Yes, I realize that is the title of a popular newsletter, but I wasn’t referring to it even though I just did. Ha! Also, I’m probably not the first to write about what will soon be written, but I’m mainly doing it for myself to see where I started and continue to move into the present. 

NOTICE::
However, before we begin I have to make a disclaimer. I can’t predict the future because if I could I would be work Billions and maybe even Trillions. If you can predict the future with a high degree ofreliability please contact me otherwise keep looking to the stars. Do I believe in astrology and other meta-physical thoughts… I’ll just say that I don’t not believe. Okay I’m getting off topic. Also, I guarantee nothing except that you might be entertained, think I’m crazy, think I can see the future, and well you fill in the blank here… So, without further adu…