25 | June | 2011 | wealthymatters

This Day That Year

June 25, 2011 1 Comment

wealthymatters.com This article was published in today’s Mumbai Mirror.Reading it took me back to another time when India was a very different place.I was then still in school.India was anything but shining.Poverty and shortages were so much a fact of life that few of us really had an idea of how poor we were since everyone around us was in the same situation and most people had very little exposure to what was going on in the rest of the world.There was no talk of India being an emerging/emerged nation.We considered ourselves as belonging strictly to the Third World and few asked why we should not want better for ourselves.Read the article below and if you’re Indian take a minute to pat yourself on the back for how far we have come in 2 decades.Take heart from it and know that we have it in us to overcome out present problems.And remember the story so that we are never again in the same situation. Read more of this post

Filed under Tidbits Tagged with bank gurantee, Bank of London, central bank, crude oil, default, distressed economies, dollars, emergency loan, emerging nation, finance minister, Fiscal Deficit, foreign exchange reserves, Gold, IMF, India Shining, Indian Oil Corporation, industrial growth, Inflation, INR, International Monetary Fund, IOC, money lender, non-resident Indians, NRI, oil, postaday2011, poverty, Rajiv Gandhi, RandomBlog2011, RBI, rupee devaluation, SBI, sell gold, shortages, State Bank Of India, Third World

Edward Zajac – 94 year old investor

June 25, 2011 1 Comment

This is a story I came across in the Economic Times.It seems to be a reprint from Bloomberg.I have this story pinned to my notice board just to remind me how Dumb Money can become Smart Money.Here is a person who seems to have made good money without trying to become an expert at investing.He has accepted his lack of expertise and found a way to benefit from the expertise of the “smart money”.His method involves just looking at some basic facts before putting his money in a company.The skills required are really basic.The rest of his magic merely seems to be a result of compounding due to his Time in the Market and the wisdom that comes from experience.To follow him we don’t need to understand financial statements or master technical analysis.

Buy & hold strategy not dead yet for 94-year-old investor

NEW YORK: Stick with stocks, says investor Edward Zajac. He should know. The 94-year-old has been trading for 72 years and said he’s made about $2.5 million.

“I am a live, open-hearted investor,” said Zajac. “I’m willing to hold that stock 5, 10 years, if I have to.” Zajac, who lives with his daughter in Henderson, Nevada, bought his first stock, Petroleum & Resources, in 1937 while attending the University of Illinois. He’s invested full-time since 1968, after retiring from installing computer systems to travel the US in a recreational vehicle with his wife. Read more of this post