Friday, July 17, 2009

Why another economics blog?

There are many good economics blogs dealing with policy questions of widespread interest. Most of these blogs are also relevant for investors and finance professionals but there is very little for the average investor who is continually being asked to make complex investment decisions. So I thought I would add some admittedly random observations on financial economics and investing. I am the James and Virginia Cozad Professor of Finance at Indiana University. You can find my bio and, for those who want to fall asleep, my vita at www.trzcinka.com . The address of this blog, "customers yachts.blogspot.com" is taken from the well-known book by Fred Schwed, "Where are the Customers Yachts?". The theme of this 1940 book is that everybody makes money from investing except the investor. The yachts are owned by brokers, bankers, and today, hedge fund managers, but not by investors. I am hoping that financial economics can help readers of this blog own bigger yachts than their financial advisors...