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  • Gambler’s Fallacy - wtf is it and why should I care?
    By austin on September 16th, 2008 | No Comments Comments

    Imagine you are playing roulette in Vegas [basically a game where you spin this thing and a ball lands either in red or black with about equal odds for either]. Red has appeared the last 7 times. Do you put all your life savings on black? I mean, its got to come up next right? What are the chances of red again? After all, the odds of red appearing 8 times in a row is about 0.4% - Very freaking low!

    Your answers to the above questions should be firm and resounding no, no, and 50% (damn close at least).  Why!?

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  • Investing 101 - The only 2 reasons you’ll ever need.
    By austin on September 6th, 2008 | 2 Comments2 Comments Comments

    We are strong believers in investing here at E.M. We think it is an absolutely MUST-DO for differentiating yourself (in a good way) from the average American/human being, whose life is riddled with debt. That’s why occasionally, we’ll be giving you primers on investing concepts and why you should care.

    We will make sense of the basic concepts and contemporary news and try to keep it high level so you don’t have to be some sort of “financial lord voldermort” to understand it while still being able to make use of it in your everday life. Honestly, we go nuts for this shit, and here’s why:

    1. Investing will make you money – This may be the single most no-brainer thing I’ve ever said…but it is more than true. Investing, in any form should be a part of your financial life. If you are in debt, you should GET OUT of debt quickly, so you can start investing. A vast majority of America will spend the vast majority of their adult lives working for their precious dollars. Investing is the way that you can get that money to work for you. Investing is what will pay the down payments for your house(s). Investments are what you’ll cash in on to pay for your kid’s college education. Investments are what you’ll be living off of when you decide to finally stop working. Investing will bring that day closer. :)  Investing is what will get you that money to help you accomplish whatever selfish, selfless, philanthropically, or bizarre dreams you wish to fulfill in your lifetime.  Investing is important.

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