Conflict of Interest: When you’re earning 5% interest in a money market account and paying 18% interest on a credit card.
User’s Manual: No one knows. No one has ever read one. (Not to be confused with the well-thumbed usurer’s manuals on the shelf of every pawn shop and check cashing store in America.)
Bond Yields: Moments in the market when bonds let other bonds go first.
Face Value: The extra price you pay for a bond with an attractive certificate.
Indentures: Only old folks buy bonds, so they need indentures.
Millionaire: Someone with a net worth of $5 million or more.
Tomorrow: What to Say to Someone With $5 Million
Quote of the Day
A veteran Massachusetts politician not so long ago was horrified at the conduct of a less savvy colleague who was indicted for bribery: 'Imagine taking money from a stranger.'~Wall Street Journal, 10/14/93
Request email delivery