The Babylon System for Financial Success (Part 2)
Highlights The Richest Man in Babylon is a compilation of parables about a camel dealer in ancient Babylon, and the principles that enabled him to become the city’s richest man. In this post, we continue our discussion on the insights the book provides to create, grow, and protect wealth. “Wealth, like a tree, grows from a tiny seed. The first copper you save is the seed from which your tree of wealth shall grow. The sooner you plant that seed the sooner shall the tree grow. And the more faithfully you nourish and water that tree with consistent savings, the…
The Market Week in Review
The U.S. stock market ended the week lower as coronavirus concerns are reinstilled and the Markit Services Purchasing Manager Index (PMI) fell into contraction (i.e. below 50) for the first time in four years. Consequently, interest rates fell considerably as the 10-year treasury yield dropped from 1.59% last week to 1.47% today, and the price of gold jumped 3.7% to $1,646 an ounce. Meanwhile, the price of crude oil rose 2.1% to $53.35 a barrel primarily due to the U.S. placing sanctions on Russian-oil giant Rosneft. This Week’s Economic Highlights The Producer Price Index (PPI), a measure of wholesale inflation,…
The Market Week In Review
The U.S. stock market closed the week at all-time highs, despite the spread of the coronavirus, as overall strong corporate earnings and positive economic data lift the market higher. Interest rates were virtually unchanged on the week as the 10-year treasury yield rose from 1.58% to 1.59%. Although the markets have shrugged-off concerns on the spread of the coronavirus, the price of gold did not as it rose 0.8% to $1,587 an ounce. Meanwhile, the price of crude oil jumped 3.7% to $52.25 a barrel amid reports of oil purchases by Chinese refineries. This Week’s Economic Highlights Initial unemployment claims…
The Babylon System for Financial Success (Part 1)
Highlights The Richest Man in Babylon is a compilation of fictional short stories first published in 1926 that continues to provide valuable insight on achieving your financial goals. Regarded by many as a timeless classic of financial literature, this easy-to-read book reveals a simple system that allowed Arkad, a camel dealer in ancient Babylon, to go from a poor scribe to the city’s richest man. The Richest Man in Babylon offers valuable guidance for creating, growing, and protecting wealth — lessons that can be adapted to our modern financial system. “Our wise acts accompany us through life to please us…