Update on Liar’s Poker

I’ve just read a fascinating article on the current financial crisis – you can read it for yourself here.

This article is written by Michael Lewis, who wrote the book Liar’s Poker in the late 80′s, describing what he thought was the foreshadow of a doomsday event at that time… and with his update he’s telling us that this most recent financial meltdown is the culmination of 20+ years of the problems he originally saw in 1986, finally imploding as he called it.  It’s a good read, if you’re interested in learning why and how this mess came about.  

The lesson here is to question everything about your investments in order to fully understand how a profit is earned from the investment.  And question again.  And again, until it makes complete sense, or move on to investments that you can understand.

I can learn from you, you can learn from me - please leave your comments and links!

Jim Blankenship, CFP®, EA, is an expert in personal retirement, IRAs, and tax issues, with more than 20 years of experience in the industry.  . Read more from this author