Highlights books related to the week's top financial news stories, by Karris Golden, president & COO of Wasendorf & Associates (Traders Press Inc., W&A Publishing and SFO Magazine)
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Like baseball, trading requires sound coaching, honest self-knowledge and shrewd understanding of “the game.”
“They both started as relatively informal endeavors in New York and grew into massive institutions,” he writes. “Organized trading started under a tree along a wall that protected a city. The wall gave name to a street, and the street later became home to one of the most venerable institutions on earth. Organized baseball started in fields around the same city. Its popularity grew, and it spread to fields around the country.”
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According to the Associated Press, Forbes, and Bloomberg Businessweek, G.E., Bank of America Corp., Citigroup Inc., Caterpillar Inc. and Alcoa Inc. were among those that increased 1% or more on Wednesday, following a rally in European lenders.
Greek, German and French leaders will meet today to discuss ways to contain Greece’s debt crisis. Speculators believe China may be willing to buy the bonds of nations hit by the debt crises, as reported by Businessweek.
Not everyone supports such a plan, according to the English-language Caijing magazine. Some advisers to China’s central bank believe the nation’s willingness to purchase euro bonds is little more than an ill-advised “bleeding heart” response to the global debt crisis.
“What today’s world needs is not a ‘bleeding heart’; instead, it needs investors with a senseo fo reform and cooperation,” Li Daokuu, academic adviser to the central bank, told Caijing. “I believe (China) will perform a role of a real good guy rather than a ‘bleeding heart.’”
In the article, he advises diversification of China’s foreign exchange reserves with solid investments.
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The solution to a puzzle isn’t always elementary. Sometimes, it’s a matter best left to middle school children.
Or, at least, their parents. That’s the case in the Albemarle (Va.) County School District. As reported earlier this week by the LA Times, Sherlock Holmes: A Study in Scarlet is no longer considered suitable reading for middle schoolers.
It’s not that the 1887 book by Sir Arthur Conan Doyle contains explicit sexual content or foul language. Instead, parents objected to the book because they say it portrays Mormons in a negative light.
I’m little miffed. It’s not because the book has been banned. I love it when books are banned, because it makes them popular (or in this case, popular again). And I’m not mad because this is yet another case of adults underestimating kids and their intellectual abilities. I know there will always be parents who behave irrationally, just as there will always be school boards to give in to ludicrous demands to ban books.
What upsets me is that we’ve never had one of our books banned; I’d like the publicity! Between Traders Press® and W&A Publishing, we have more than 40 years in the publishing industry. In that time, none of our publications have been deemed ban-worthy.
We have a few that rise to the possible occasion, so I’ll just have to wait. A girl can dream, I guess.
These and other stories are enough to leave even the calmest feeling a bit rattled.
This morning while getting my oil changed, I was annoyed by a waiting room companion who was watching the news. The guy had the nerve to give me a conspiratorial wink and say, “Well, at least things can’t get any worse.”
As he was an elderly gentleman, I refrained from asking if he remembered the Great Depression.
A solid plan is the best course for individual traders and investors. I know I make better decisions when I’m armed with as much information as possible.
Information also puts me at ease. Even if a problem is big, bad and beyond my control, getting reading information from a trusted, reputable source, helps me feel like I have a handle on the “why,” “how” and “what next” of a situation.