If you are new to WhereDoesAllMyMoneyGo.com, every Friday I run a post called “A Lap Of The Blogs” which provides links to articles I found interesting and think that others may want to read for themselves. I also include some commentary on what’s going on in my personal life and a weekly “racing video” since my former life was in the auto-racing industry. The name “Lap of the Blogs” is in reference to “A Lap Of The Gods” which is an old video series which chronicled on-board footage of the world’s greatest F1 drivers lapping various racetracks from around the world.
As many of you might already know, I’ve thrown my hat into the ring to try to become the next W Network Expert Host. The competition is in the first voting stage and you can click here to watch my submission and by all means feel free to vote and leave a comment if you want to help me out.
From Around The Blogosphere
Four Pillars (who seems to desparately want to see me in a dress?) makes an interesting point in that not selling can be the same as buying in a market like this. I would like to make the point that he loves Tina Fey.
Larry MacDonald forwards some good tips from Warren Mackenzie, President of Second Opinion Investor Services. Warren and I appeared together on the Linda Leatherdale show back in February of this year and he runs a great service for investors who work with advisors that allows them to get an independent opinion on the value one’s advisor is bringing to the table in terms of planning and portfolio management.
Canadian Capitalist discusses his personal allocation to fixed income and why he’s thinking of reducing it.
Many investors may be paralyzed by the recent market action, and Michael James on Money asks if you have the nerve to rebalance right now?
Thicken My Wallet discusses how you can potentially avoid self-inflicted investing wounds, which investors are particularly prone to during times of duress. Some really good points to consider here folks, please check it out! :)
Frugal Trader talks about giving yourself an allowance. Lots of examples in the comments section.
And finally, I would like to re-point your attention to the piece I wrote about How reacting in fear can damage portfolios. You’ll note I used a 14.52% correction in the example which seems almost trivial compared to what’s been happening, but the same thinking applies then and now.
This Week’s Racing Video
This is one of the funniest videos I’ve seen in a long time. Ricardo Patrese is an ex-Formula One driver and in this video he is driving his wife around a racetrack in a regular street car. You may want to turn your speakers DOWN because she starts yelling quite loudly about two-thirds through the video. I would liken Ricardo to an informed long-term investor and his wife to a nervous investor with a portfolio that has too much equity exposure for their liking… I believe she’s speaking Italian, and it sounds like there could be some non-work friendly language in there… beware! :)