Dear Reader,
Yahoo! is well known as a search engine, firstly, and an
e-mail service provider, secondly. But is it well known for
news, finance, etc? Yahoo! has put in efforts in
revitalizing its businesses, and all that effort is worth
checking out.
Special Editions of the Yahoo! Finance is worth looking at,
especially as these give us insights into the world of
finance. Unfortunately, many times, the articles look at
the world from the American perspective. It is of course
much better than having to reinvent the wheel. We learn
from the experiences of others, and avoid having to make
the same mistakes ourselves.
Surf to:
http://biz.yahoo.com/special.html
Yahoo! has also engaged noted individuals to "contribute"
articles to its website. In doing so, it creates a win-win
situation: Yahoo! gets free articles, and the writers
(contributors) get free publicity. Incidentally, services
like Lexis-Nexis and other free online "directory listing
services" also encourage article contributions from their
members. They eventually hope to become a "source of
information" for their members (existing clients: likely to
be repeat customers) and non-members (new clients).
Surf to:
http://biz.yahoo.com/special/allbios.html
An article by Robert Kiyosaki, world-reknowned richness
guru, appears on the Yahoo! Finance website. Entitled
"Putting Debt to Work for You: Why the Rich Get Richer" is
very informative. In it, Kiyosaki described how at the age
of 27, he bought a condo with a credit card. He owned two
condos, one of which he stayed in, and the other which he
rented out. Positive monthly cashflow: $25. His friends
"ribbed" him, calling him the "Credit Card Tycoon". One
year later, he told his friends that he had sold the condo
for $48,000: A profit of $30,000.
Mr. Kiyosaki quotes his "rich dad", in what I feel is an
irony: I quote Kiyosaki quoting his rich dad. Nevertheless:
[quote]
"My banker is my best partner," my rich dad used to say.
"He loans me 90 percent of the money and I control 100
percent of the property, 100 percent of the profits, and
100 percent of the tax breaks. All I have to do is find
great investments he wants to be a partner in."
[/quote]
Read his article at:
http://finance.yahoo.com/columnist/article/richricher/1329
There is another article: "Why Savers Are Losers: Why the
Rich Get Richer", also by Kiyosaki. In it, he describes how
he learned about the "fiat money" system. The experience of
Germany, which printed money at will, caused unbridled
inflation. The result: collapse of the economy, thereafter
followed swiftly by World War II. America (Nixon) dumped
the Bretton Woods system (money backed by gold) to embrace
the same "fiat money" system. Kiyosaki points out that the
American Government says with aplomb that inflation is low,
but such "inflation" refers to the CPI (Consumer Price
Index), and does not cover asset prices. Assets are defined
as "house, gas, gold, or stocks" and Kiyosaki sums up by
saying:
[quote]
In summary, investors shop for _asset bargains_, and
consumers shop for _consumer bargains_ and try hard to save
_money that is not really money_.
[/quote]
Read it at:
http://finance.yahoo.com/columnist/article/richricher/1224
Interesting, the things you find at Yahoo! More interesting
yet is the etymology of the word, "Yahoo":
[quote]
From _Yahoo_, member of a race of brutes in _Gulliver's
Travels_ by Jonathan Swift.
[/quote]
Surf to:
http://www.bartleby.com/61/20/Y0002000.html
Jonathan Swift began the novel in 1721, at the age of 54,
and completed it in 1725.
__________________________________
Yahoo! Mail - PC Magazine Editors' Choice 2005
http://mail.yahoo.com
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