(I wasn’t paid for posting this, nor do I have any economic interest in you opening a credit card. I actually think this is a sweet deal worthy of your time. Nice guy blogger.)

As I sit here, I wonder if I really need another credit card. I don’t. I have several, many of them the casualties of rapid churning.

It was fun for awhile, but I’ve exhausted most of the offers out there. And now I’ve got something close to $100k in limits I’ll never use — I live on less than $20K a year.

Despite this, I opened another credit card last night. Why?

Free money, yo!

Bank of America has an offer that’s hard to beat. The BankAmericard will give you $25 per quarter just for paying your bill on time with a payment greater than your minimum payment. There are no other rewards, nor an annual fee.

So what do you do?

1. Set up an automated bill
2. Set up an automated payment on the BankAmericard
3. Every 3 months get $25 in cash, tax free!

Adverse selection in action. Customers like me are certain to be unprofitable — but, hey, that’s not my problem.

Anyway, if you’re interested in taking advantage of this deal, check it out here.


On Entitlement

by JT McGee

Need an intern with a strong sense of entitlement and bad manners? Hire a rich kid.

This article is amazingly interesting. It’s on entitlement among wealthy kids — err, the children of wealth.

I’m lucky enough to have lived a fairly privileged life. Until middle school, or so, my parents were certainly “well off,” at least in Midwestern terms.

Flying private or commercial was never a choice, though — we certainly weren’t that wealthy. In fact, “wealthy” is probably charitable. I mean income rich. Vastly different thing, especially in the eyes of the tax code.

It afforded some comforts. But my parents loved saying no. Loved it. Unless, of course, we wanted something educational. My dad would eagerly open his wallet to feed us knowledge. And I mean eagerly. I only recently threw away a stack of almanacs, math books, etc. that I had saved from childhood.

To some extent, I think being born with wealth is a disadvantage. The disadvantage is asymptotic, though. Super rich = no problems. Moderately rich = problematic. Wealthy enough to think the world owes you something, not wealthy enough to sit on your laurels.

I know far too many people who came from far more privileged backgrounds who are working hard to ensure that familial wealth never makes it past three generations. It amazes me that wealth can be destroyed so easily — so carelessly — in such a short time. But I guess it is what it is. I welcome the opportunity to blow an inheritance.

Anyway, I’m not sure I’ve ever really read anything from the New York Observer, but I found this article worthy of sharing. Give it 15 seconds…maybe you’ll end up giving it 5 minutes.


$_1If you’re anything like me, you thought trading cards were dead. They languished to obscurity when collecting became cool again in the late 80s and 1990s, right?

Wrong. Dead wrong.

An app called Topps Bunt is proving that the market for collectible sports cards is alive and well. Topps Bunt is a digital trading card game in which users collect digital baseball cards. It’s a “freemium” app — you can play for free, but spending real money allows you to buy more cards.

The cards are as popular as ever, despite the fact they are 100% digital. And even though they’re digital, they seem to have real value.

Here’s some recent and insane listings on eBay:

$360 for a Derek Jeter card

$150 for a Mike Trout card

$71 for a collection of different “insert” cards

Bear in mind that these listings have bids. The prices are not the result of an overzealous seller, but of a true market willing to pay hundreds of dollars for a single digital card. And I can guarantee that the ending sales price will be higher than the prices listed in this article. I’ve been a curious spectator for a few weeks now — Jeter and Trout cards can sell for as much as $500 per.

Now, these are “special” cards. The Jeter and Trout cards are one of only 100 in existence. So if you want one, you have to compete with the subset of 297,000 Topps Bunt players who are just as insane as you are.

I find it ridiculous. You probably find it ridiculous. But the fact is that a fool and his money can still be parted.

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Education should be free.

Well, that’s my opinion, anyway. I’m not talking about college credits or an instructor-led course. I’m talking self-study — the best way to learn.

Self-study is a heck of a lot easier when you can download any textbook under the sun for free. I’d start here: http://libgen.org/

Wink. Nod. Any book you think might be remotely educational is on that site. I can’t speak for fiction, though, as I don’t read it.

Some stuff on the site you might find interesting:

The Snowball: Warren Buffett and the Business of Life
McKinsey Valuation books
Security Analysis
Margin of Safety

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