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This and That: Spendthrift celebrities and more…

October 29th, 2009 · 11 Comments

  1. Add one more star player to the long list of athletes who earned millions but ended up broke. The Boston Globe reported the sad story of Antoine Walker, a Celtics star, who squandered an estimated $110 million in earnings but is now facing fraud charges for writing bad cheques.
  2. Larry MacDonald discovers that F. Scott Fitzgerald, author of such books as The Great Gatsby was another careless spendthrift.
  3. Canada Savings Bonds are on sale until November 1, 2009. Chaya Cooperberg says there is no need to rush considering the bond pays a minuscule 0.4%.
  4. Larry Swedroe asks if technical analysis is a waste of time. You can already guess his answer.
  5. In a column in the Globe and Mail, Dan Richards explains how to decide which advisor to work with and how to have the right relationship.
  6. Preet asks what’s the point of introducing ETFs such as the BMO Equal Weight Diversified Bank ETF (ZEB) that holds just six stocks.
  7. Gail lists the reasons why people mean to succeed financially but still fail.
  8. Mr. Cheap grapples with where to draw the line when it comes to socially-responsible investing.
  9. Michael James notes that buying bonds directly might work out cheaper than buying bond ETFs such as the new ones from BMO.
  10. Million Dollar Journey featured a guest post on how to deal with collection agencies.

Happy Halloween! Have fun trick-or-treating!

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11 responses so far ↓

  • 1 Michael James // Oct 30, 2009 at 12:21 am

    It seems that professional athletes fare no better than lottery winners.

  • 2 Ben // Oct 30, 2009 at 8:12 am

    I’m a basketball fan, and it’s a bit sad to see an athlete fall from grace like that.

    I see the mention of Michael Jordan at the gambling table with him – I’ve always had a feeling that Mike has his own skeletons in the closet.

  • 3 Ben // Oct 30, 2009 at 8:14 am

    Difference with Mike would be that I think he’s got a considerable income stream for life from Nike etc, so there’s little chance of running dry.

  • 4 Preet Banerjee // Oct 30, 2009 at 9:30 am

    Thanks for the link CC – have fun tomorrow!

  • 5 Canadian Capitalist // Oct 30, 2009 at 10:14 am

    @Ben: Michael Jordon might be in an altogether different league but it is still possible to blow any pile of money, however big. Just look at the other MJ: Michael Jackson.

  • 6 Gail // Oct 30, 2009 at 10:39 am

    Ta sweetie.

    BTW, on the topic of people who make gobs of money and end up broke, imagine how silly they must feel. And yet everything about our media leads our young people to want to emulate the way these superstars dress, eat and play. When will we make superstars of some sensible folks?

  • 7 Four Pillars // Oct 30, 2009 at 12:59 pm

    Thanks for the ’social’ link!

  • 8 MDJ // Oct 30, 2009 at 4:36 pm

    Thanks for the mention CC!

  • 9 Finance Matters // Oct 30, 2009 at 4:45 pm

    Question, when I post a link on my Blog to one of your, or other Blogs articles, how do I let you know?

  • 10 Phil S // Oct 31, 2009 at 11:03 pm

    Regarding pro athletes, I’ve heard stories stemming from the opposite end of the scale… A good Canadian boy, Paul Kariya – I’ve heard that the entire decade plus that he spent playing for Anaheim, he stayed in a modest rented condo and never bought a car – he would have teammates pick him up all of the time. Apparently in an interview, he said in a pro athlete’s life, you never know when you might get traded, cut from the team or seriously hurt. So, he always kept his expenses low and rented so that he was always ready for the worst. Of course he spent more than a decade making millions playing for the Ducks.

  • 11 Canadian Capitalist // Nov 2, 2009 at 6:00 pm

    @Phil: Paul Kariya’s financial smarts is interesting. I wonder if there is press coverage of this. Or maybe hockey players don’t have the flamboyant life styles of basketball and football players?

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