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Personal Finance Reader

Carrick's Reader: Make way for the commodity bubble Add to ...

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Make way for the commodity bubble High commodity prices are based on the same irrational thinking that caused the disastrous peak in technology stocks in the late 1990s, argues Ruchir Sharma, author of a new book called Breakout Nations: In Pursuit of the Next Economic Miracles.

Sharma, who is head of emerging markets at the investment firm Morgan Stanley, has coined the phrase “commodity.com” to describe the current mania for oil, copper, wheat and such. “The strongest common thread connecting the dotcom and commodity.com eras is the fundamental driver of all manias: the invention of ‘new paradigms’ to justify irrationally high prices.”

Hello, good buy. All about how we sometimes fool ourselves into thinking that we’re making buying decisions based on facts instead of on emotion.

Ten utterly decadent gadgets for the ultra wealthy, including $80,000 stereo speakers and a $300,000 motorcycle.

Show your car some love Micro-fibre drying towels, new windshield wiper blades and other worthwhile things to buy for your car.

More money Join the 10,000+ people who subscribe to my Facebook personal finance community for talk about investing, retirement, real estate, banking and other financial matters. I’m also on Twitter.

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