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Was Madoff a Better Investment Than Your Mutual Fund? February 25, 2009

Posted by Jeff Nabers in : Self Directed IRA Solo 401k , add a comment

madoff

Blogger, owner of the Dallas Mavericks, chairman of HDNet, and billionnaire Mark Cuban poses the question:

Was Madoff a better investment than your mutual fund. Surprisingly, his answer is yes. To see why, read his post.

I am thankful for… November 27, 2008

Posted by Jeff Nabers in : Health, Money, Personal Enjoyment, Personal Productivity, Self Directed IRA Solo 401k , add a comment

thanksgiving_prayer

…our current circumstances. Rather than ignore the current economic problems, I choose to acknowledge this elephant in the living room during our Thanksgiving holiday.

We are bombarded with headlines like “What will fix our economic problems?” It is absolutely silly. The recession is the solution to the problem of the asinine acts of American government, corporations, and consumers. There is no galactic lottery that our country can win. We have to play by the rules of the game that we started. No person or government can perpetually spend more money than they earn. Such behavior can only be temporary and always leads to self inflicted unpleasantness.

I truly am thankful for our recession because it should help cleanse our government and society of self destructive behavior. We are now forced to (more…)

Video: Financial Statements of Publicly Traded Companies. How reliable are they? September 3, 2008

Posted by Jeff Nabers in : Precious Metals, real estate, Self Directed IRA Solo 401k , add a comment

In this brief video clip, listen to CPA/CFP Eric Wikstrom relate his experience from dealing with financial statements from large corporations during his auditing years, including during his employment at Arthur Andersen before it went down with Enron.

[youtube=http://www.youtube.com/watch?v=bsf0wjj_mgY&hl=en&fs=1&rel=0&color1=0x2b405b&color2=0x6b8ab6&border=1]

Eric very politely touches on the issue of large corporations facing a difficult task in producing accurate financial statements. The unreliability of financial statements expands much further when we also consider the many outright scandals we’ve all seen in the news. Enron, Tyco, WorldCom, and that breed of scandals. Then there’s the Freddie Mac accounting scandal that misreported income several years in a row by up for $4 billion. Fannie Mae had its own debacle where $200 million of losses were shifted in order for top (more…)