The Stingy News Weekly (01/02/2017)
New from StingyInvestor
A word from a portly gentleman
"At this festive season of the year it is more than usually desirable that we should make some slight provision for the poor and destitute, who suffer greatly at the present time. Many thousands are in want of common necessaries; hundreds of thousands are in want of common comforts."
Dave Barry's 2016
"Yes, we've seen some weird years. But we've never seen one as weird as 2016. This was the Al Yankovic of years. If years were movies, 2016 would be 'Plan 9 From Outer Space.' If years were relatives, 2016 would be the uncle who shows up at your Thanksgiving dinner wearing his underpants on the outside." [Fun]
Lessons from a short seller
"Wilson managed a hedge fund - Wilson & Associates - that he launched in the late 1960s. During his career, his fund generated annualized returns of about 30%. His net worth peaked at $800 million, most of which he donated to charity." [Markets]
Learn from James Sinegal
"It has a frantic desire to serve customers a little better every year. When other companies find ways to save money, they turn it into profit. Sinegal passes it on to customers. It's almost a religious duty. He's sacrificing short-term profits for long-term success." [Management]
The pension warning bell
"By the time Calpers gets that assumed rate of return down to 7 percent, as its CFO recommends, the fund may very well be thinking about lowering expectations even further." [Retirement]
A portrait of Jason Zweig
"When an inmate in federal prison reminisces about what you were like as a child, you pay attention." [Zweig]
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