Call Out Bad Money Advice
If you like this blog, you will probably also like Bad Money Advice. I recently came across it and I really like it.
At times I like to set the records straight on some popular myths in the media: missing the 10 best days in the stock market, 401k loan double taxation, Roth 401k, credit score, and so on. In addition to recommending good books, I also report bad books: Elliott Wave, Magic Formula, Rule #1, Strapped.
Sometimes I feel frustrated because there is so much bad advice out there. I'm also afraid calling out personal finance gurus, journalists, and other bloggers may make me appear smug, aloof, or mean-spirited.
Selection Bias, The Wanting Mind, Bank CDs, and Socially Responsible Investing
Here are some of the blog posts I enjoyed this week:
Profiles in Selection Bias at The Incidental Economist – Be careful when you read media reports about statistics drawn from different population.
TIE says the media love selection bias and don't know it. I say they don't care whether there is selection bias because they love the attention-grabbing headlines. Think about the audience. Who has time to really think about it?
Understanding and Conquering "the Wanting Mind" at AllFinancialMatters – How do you fight with getting drawn into the latest and greatest? JLP says "STOP LOOKING for a replacement of what you currently have!"
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