In the first two parts of this series, I reviewed mutual funds, stocks and arbitrage. This month, I conclude with an overview of hedge funds, diversification and portfolio balancing. Hedge funds Benjamin Graham, the godfather of value investing, started the first hedge fund in 1923.
In part 1 of this series, I showed you one method of selecting mutual funds and reviewed some basic factors to consider in choosing investments. This month, we look at a simple way to choose individual stocks and review some other investment options.
When the recession deepened, many contracting businesses depleted liquidity. As markets recover, now is an appropriate time to review investment strategies for rebuilding lost wealth. This month, we take a look at a common investment vehicle and one system for selecting products.
Leading construction experts and economists are certain about one thing in construction right now: The future is mostly uncertain because consumers are scared, and too many Americans are unemployed. Economists see 2012 as a big question mark because of the risk of a double-dip recession.
Recent economic forecasts offer some hope for electrical contractors in 2012. As market conditions improve, it is more important than ever to avoid common contractor mistakes. Ensure you are alert to these business killers, and you will focus on ways to guarantee your success in the coming year.
A century before electrical contracting existed, Victor Hugo wrote, “There is nothing more powerful than an idea whose time has come.” Rapidly changing technology requires more progressive thinking today, but the powerful idea that appears as an outlier often goes unrecognized.
Financial planning and strategizing during chaotic economic times is like white-water rafting without a paddle. As you bounce between rocks, holding tight and hoping your craft doesn’t spring a leak, you analyze your situation.
Electrical contractors are realists. While you may long for a Utopian world in which your employees whistle happily as they create perfect work for delighted customers who pay you on time, earning you a healthy profit, you don’t expect this outcome.
Gen. Colin Powell said, “Perpetual optimism is a force multiplier.” Would this philosophy improve financial decision-making in an electrical contracting business? It worked in my family’s contracting business, though I didn’t realize it at the time.
By now, most New Year’s resolutions have been forgotten, but the ability to “re-solve” and respond to changing conditions is imperative for your business in these uncertain times. For the remainder of 2011, these columns will form a 10-part series using the acronym RESOLUTION.
I am writing this column on the 25th anniversary of the day my father died. At the time, I had spent a little less than two years as his protegee in the family construction business, which was never part of my original career plan.
There will always be mistakes in your work, but the real cost of those errors might be greater than you realize. As an electrical contractor, you know the cost of rework amounts to more than simply labor and materials.
What is “TIFORP,” and how does it affect your financial planning? The acronym TIFORP contains six components that are seldom prioritized to serve the best interests of business owners. T is for taxes Business owners want to minimize taxes to keep more of the money they earn.