Getting A Millionaire's Mindset

By GLENN CURTIS

Investopedia, Monday, 8 September 2008

Let's face it; we all don't make millions of dollars a year, and the odds are that most of us won't receive a large windfall inheritance either. However, that doesn't mean that we can't build sizeable wealth - it'll just take some time. If you're young, time is on your side and retiring a millionaire is achievable. Read on for some tips on how to increase your savings and work toward this goal.

Stop Senseless Spending Unfortunately: People have a habit of spending their hard-earned cash on goods and services that they don't need. Even relatively small expenses, such as indulging in a gourmet coffee from a premium coffee shop every morning, can really add up - and decrease the amount of money you can save. Larger expenses on luxury items also prevent many people from putting money into savings each month. (For related reading, see Squeeze A Greenback Out Of Your Latte.)That said, it's important to realize that it's usually not just one item or one habit that must be cut out in order to accumulate sizable wealth (although it may be). Usually, in order to become wealthy one must adopt a disciplined lifestyle and budget. Read More News...

Philippine Corporate Profits Fall – PSE Study

By AGENCE FRANCE-PRESSE

Money, First Posted 12:25:00 09/02/2008

MANILA, Philippines -- Soaring inflation contributed to a 4.3-percent fall in profits at listed Philippine firms over the three months to March, a stock exchange study said Tuesday.

The fall against the same quarter last year pushed profits among the 221 companies down to P66.68 billion ($1.46 billion), according to research by the Philippine Stock Exchange.

Inflation, slowing economic growth and the impact of stock market losses -- shares dropped 17.6 percent over the quarter -- accounted for the fall, said bourse president Francis Lim.
He said the figures created "an unsettling implication" that he described as "like the proverbial calm before the storm."

Firms in the finance, mining, oil and property sectors, together with holding companies, suffered double-digit percentage drops in profits, but overall revenues rose 10.4 percent to P589.71 billion, the study said. Read More News...

Inflation at New Near-17 Year High

by BUSINESS WORLD ONLINE

Saturday, September 6, 2008 MANILA, PHILIPPINES

Inflation hit a new near-17 year high in August but the results, up slightly from a month earlier, could be the peak for 2008.

The rise in consumer prices was 12.5% last month, up from July’s 12.3% due to what the National Statistics Office said were higher prices in a number of commodity groups. The result was the highest since December 1991, when inflation topped 13%.

The Bangko Sentral ng Pilipinas (BSP) called it a "positive development", and predicted a further slowdown if food and oil prices continue to drop. "These developments are positive for the inflation outlook and the BSP will watch these closely to see if the slowdown would continue and be more generalized," central bank governor Amando M. Tetangco, Jr. said in a text message.

"If [the positive developments in prices of food and oil] continue, the pace of inflation will slow down further," he added.

Food prices went down in August but costs of other important commodity groups such as fuel, light, water and clothing still grew faster during the month. Read Full Story...

Warren Buffett's Humorous Threat

By BILL BARKER
The Motley Fool, September 2, 2008

Along with being the world's greatest living investor, Warren Buffett is an outstanding writer, a generous educator, and a reliable wit. His annual letters to shareholders, replete with investing insights both timely and timeless, nearly always include a number of well-delivered jokes.

In one letter, he wrote:

"We show below our common stock investments. With two exceptions, those that had a market value of more than $700 million at the end of 2006 are itemized. We don't itemize the two securities referred to, which have a market value of $1.9 billion, because we continue to buy them. I could, of course, tell you their names. But then I would have to kill you."

Now, when I first read that, I laughed. The notion that Buffett might need to off one or more of his readers is just good comedy. Then I thought, "Was it Freud or an embittered ex-girlfriend of mine who said that there really is no such thing as an innocent joke?" (I know that one smoked a lot of cigars, and one needs to get over my remark about her haircut.) Read Full Story...

Quick Hits: Berkshire Hathaway Won't Bet Against Dollar

By SCOTT REEVES
Minyanville, Aug 22, 2008

The sour US economy is unlikely to rebound before 2009, billionaire investor Warren Buffett said Friday. He said the credit crunch will continue to worsen, and noted that Federal Reserve Chairman Ben Bernake doesn’t have a “magic wand” to strengthen the economy and tame inflation.

“You always find out who’s been swimming naked when the tide goes out,” Buffett told CNBC. “We found out that Wall Street has been kind of a nudist beach.” Read Full Story...

The Oracle of Omaha's Latest Riddle

By TIMOTHY L. O'BRIEN

The New York Times, April 10, 2005

WHEN Berkshire Hathaway shareholders gather here in three weeks for their annual meeting, they will be treated to another homespun video starring the company's chairman, Warren E. Buffett. This year's plot is still a secret, but Mr. Buffett's co-star in last year's video was Arnold Schwarzenegger, the governor of California. Read Full Story...

A Deal Maker With a Hot Hand Opens His Wallet

By VIKAS BAJAJ
The New York Times, December 29, 2007

Warren E. Buffett is in no mood to quit.

At 77, Mr. Buffett, the country’s most famous investor, is in the midst of his hottest streak in almost a decade. And he is capping his run with a flurry of deal-making.

On Friday, Mr. Buffett stunned Wall Street by announcing that he would enter the troubled bond insurance business. He also spent about $440 million for a unit of ING Groep, the Dutch financial giant. Read Full Story...