U.S. News & World Report – American consumers hate being told what to do, and to prove it, we routinely make choices that are irrational and counterproductive. We make impulse purchases we can’t afford. We build bigger houses than we need, chaining ourselves to an onerous mortgage for years. We drive rugged, four-wheel-drive vehicles even though we never leave the pavement. We buy Snuggies.
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U.S. News & World Report – If you’re combining your life with a new spouse, moving from one house to another, or just frustrated with the amount of documentation you have filed (or unfiled) in your basement, it’s a good time to simplify your finances. Simplification is not only practical, it is beautiful. This is the concept of kanso, a Japanese aesthetic usually applied to gardens. Through a stretch of the mind, we can apply this beauty to our lives and our finances.
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AP – Mortgage applications rose 2.7 percent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments.
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The Motley Fool – When Berkshire Hathaway (NYSE: BRK-A – News) was buying railroad company Burlington Northern last December, Warren Buffett told Matt Rose: “I’ve seen what’s been done here [in the U.S.]. I think I know how the country is going to develop. I think the West is going to do well. I’d rather be in the West than the East. So I really don’t have much of a worry about that.”
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The Motley Fool – In coming up with ways to protect their portfolios, many investors draw on lessons learned from their most recent mistakes. Unfortunately, most people right now are taking the lessons they learned from the 2008 bear market and buying bonds, which could easily prove to be far riskier than they thought.
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AP – NO WAY: Taiwanese regulators have rejected Primus Financial Holdings’ planned purchase of AIG’s Taiwan life insurance unit.
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AP – Taiwanese regulators on Tuesday rejected Primus Financial Holdings’ planned purchase of AIG’s Taiwan life insurance unit amid concerns that the Cayman Island-based firm may be backed by funds from rival China.
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AP – The parents of six deceased U.S. soldiers are suing Prudential Financial, saying it paid paltry interest on military life insurance benefits while keeping more generous interest earnings for itself.
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