Posted in Investing on Jun 24th, 2007 3 Comments »
In the November 2004 issue of BusinessWeek, Eddie Lampert was called the next Warren Buffett. At the time, he was single-handedly responsible for turning around the bankrupt KMart and making it a cashcow.
![[Image of Eddie Lampert on the cover of November 2004 BusinessWeek]](/wp-content/uploads/2007/06/bizweek-cover.gif)
Despite having been kidnapped, he negotiated control over bankruptcy proceedings after buying a controlling stake through his hedge fund ESL Capital. Like Warren Buffett, he started it when he was just 25 years. He studied Berkshire’s annual reports and often reversed engineered the data to analyze how the deals took place.
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Posted in Investing, Currency on Jun 21st, 2007 3 Comments »
I’ve mentioned previously that in the long run, I think the US Dollar will continue to lose value and I also discussed several ways to profit from this scenario.
One of the ways, was to invest in foreign currencies. Apparently I’m not alone in thinking this might be a good idea. Amongst those who agree with me is Chris Gaffney, of Everbank. I’m a big fan of Everbank’s products, especially their Japanese REIT CD. According to Chris, who incidentally is Vice President of Everbank World Markets,
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Continuing on the thread of Mortgages, today’s post is by guest writer Anders Bylund of MortgageLoan.com.
Rampant mortgage fraud has been driving up home prices for years, and it’s not always easy to catch the bad guys in the act. Learn to pick up on the warning signs before it happens to you.
By now, you’ve heard all about the deflating housing bubble. But you might not have heard the whole story. Did you know that some of the inflation in housing prices a few years back came from mortgage fraud on a grand scale? Federal authorities are on the case now, but shady business has been going on for years.
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For most people, their home mortgage is the largest financial commitment they will ever make. However, people will spend more time selecting the kitchen appliances than understanding how mortgages work. Considering that your mortgage will likely be over a hundred thousand dollars, getting a sub-optimal mortgage can cost you tens of thousands of dollars over the life of the loan.
Lets go through some of the common terminology used in the mortgage business.
Fully Amortizing Mortgage : You pay interest and principle payments every month.
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