Michael Covel: News & Info.

One Turtle I was unable to find during my book research process is 2nd from the left:

Today he is an accomplished guitarist specializing in latin, acoustic and Klezmer music (sample). He is the only original Turtle currently with a MySpace.com page. Is he trading still? As I mention in my book I was told by one Turtle, who still manages money publicly for clients, that Svoboda probably has the best returns for any Turtle since 1988. From YouTube:

How many students at San Diego State realized that day the guy playing guitar in the court yard knew more about trading and making money than the entire business faculty at the university?

Another numbers guy takes the lead.

Nick Leeson never really left us.

A new way to predict where top prospects will end up. Interesting research.

A net worth of $1.4 million will put you in the top 5% of Americans, but what does that really mean?

A new study from Northern Trust shows millionaires in their 30s are better diversified across all asset classes than millionaires in their 50s and 60s are.

Scientists think the new field of neuroeconomics can explain some business behavior, perhaps even distinguish rational from irrational decisions. Are some people’s brains hardwired to run companies or to make deals?

An excerpt:

Paul Navone is one of those quiet millionaires next door. His friends had no idea he had money until he started giving it away — $1 million to a college and another $1 million to a prep school. The 78-year-old retiree never made more than $11 an hour while working in the New Jersey mills, according to a story by Joe Logan in the Philadelphia Inquirer, and to this day Navone buys his clothing at thrift stores, and doesn’t have a TV or a phone.

More.

A reminder of what can happen when there is an answer for everything.

I was in the local Micro Center today buying a keyboard. As I made the purchase the young guy at the counter asked me for my email for my $49 purchase. I said “no” bluntly. I then asked him what percentage of people actually give their email. He livened up and said, “Oh last night we were at 71%.” How did we as a society become so easily manipulated? What are the larger ramifications?