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	<title>Financial Reference</title>
	<link>http://www.financialreference.com/blog</link>
	<description>Musings of a Financial Hobbyist</description>
	<pubDate>Sun, 23 Dec 2007 23:58:02 +0000</pubDate>
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		<item>
		<title>Fear of Losses</title>
		<link>http://www.financialreference.com/blog/2007/12/23/fear-of-losses/</link>
		<comments>http://www.financialreference.com/blog/2007/12/23/fear-of-losses/#comments</comments>
		<pubDate>Sun, 23 Dec 2007 23:58:02 +0000</pubDate>
		<dc:creator>Brian</dc:creator>
		
	<category>Investing</category>
		<guid>http://www.financialreference.com/blog/2007/12/23/fear-of-losses/</guid>
		<description><![CDATA[	In the long run, markets are driven by fundamentals.  In the short run, markets are driven by fear and greed.
	The mere mention of emotion conjures up an image of an amateur.  But, more often than not, it&#8217;s the professionals succumbing to fear.  The fear of losing money, of losing clients, and of [...]]]></description>
		<wfw:commentRSS>http://www.financialreference.com/blog/2007/12/23/fear-of-losses/feed/</wfw:commentRSS>
	</item>
		<item>
		<title>Introduction to Value Investing &#8212; Books</title>
		<link>http://www.financialreference.com/blog/2007/12/09/introduction-to-value-investing-books/</link>
		<comments>http://www.financialreference.com/blog/2007/12/09/introduction-to-value-investing-books/#comments</comments>
		<pubDate>Sun, 09 Dec 2007 22:18:43 +0000</pubDate>
		<dc:creator>Brian</dc:creator>
		
	<category>Investing</category>
		<guid>http://www.financialreference.com/blog/2007/12/09/introduction-to-value-investing-books/</guid>
		<description><![CDATA[	Value investing is all about recognizing long-term value.  It is more important to know timeless investing principles instead of short-term technical trends.
	Therefore, much of what you need to know to be a value investor can be gleaned from books.  Many of the important books on the list below were written well before current [...]]]></description>
		<wfw:commentRSS>http://www.financialreference.com/blog/2007/12/09/introduction-to-value-investing-books/feed/</wfw:commentRSS>
	</item>
		<item>
		<title>So you want to be a value investor?</title>
		<link>http://www.financialreference.com/blog/2007/12/06/so-you-want-to-be-a-value-investor/</link>
		<comments>http://www.financialreference.com/blog/2007/12/06/so-you-want-to-be-a-value-investor/#comments</comments>
		<pubDate>Thu, 06 Dec 2007 12:43:29 +0000</pubDate>
		<dc:creator>Brian</dc:creator>
		
	<category>Investing</category>
		<guid>http://www.financialreference.com/blog/2007/12/06/so-you-want-to-be-a-value-investor/</guid>
		<description><![CDATA[	So you want to be a value investor?  The first thing you should do is avoid short-term based thinking.  This means avoiding the excitement of the markets daily fluctuations, emotional discussion board posts, and &#8220;research&#8221; based on technical analysis and short-term trends.
	Value investors concentrate on the long-term, so it makes sense to use [...]]]></description>
		<wfw:commentRSS>http://www.financialreference.com/blog/2007/12/06/so-you-want-to-be-a-value-investor/feed/</wfw:commentRSS>
	</item>
		<item>
		<title>Comparing &#8220;Cheapness&#8221; Across Countries</title>
		<link>http://www.financialreference.com/blog/2007/12/02/comparing-cheapness-across-countries/</link>
		<comments>http://www.financialreference.com/blog/2007/12/02/comparing-cheapness-across-countries/#comments</comments>
		<pubDate>Mon, 03 Dec 2007 02:19:04 +0000</pubDate>
		<dc:creator>Brian</dc:creator>
		
	<category>Investing</category>
		<guid>http://www.financialreference.com/blog/2007/12/02/comparing-cheapness-across-countries/</guid>
		<description><![CDATA[	If you read financial news, it&#8217;s easy to compare markets to one another.  All you need to do is compare price to earnings, price to cash flow, and price to book.  Using these ratios, articles can be written determining the relative attractiveness of investing in different markets.
	In fact the &#8220;Heard on the Street&#8221; [...]]]></description>
		<wfw:commentRSS>http://www.financialreference.com/blog/2007/12/02/comparing-cheapness-across-countries/feed/</wfw:commentRSS>
	</item>
		<item>
		<title>Dell&#8217;s Earnings</title>
		<link>http://www.financialreference.com/blog/2007/11/30/dells-earnings/</link>
		<comments>http://www.financialreference.com/blog/2007/11/30/dells-earnings/#comments</comments>
		<pubDate>Fri, 30 Nov 2007 12:44:13 +0000</pubDate>
		<dc:creator>Brian</dc:creator>
		
	<category>Investing</category>
		<guid>http://www.financialreference.com/blog/2007/11/30/dells-earnings/</guid>
		<description><![CDATA[	Dell reported earnings yesterday afternoon and the stock promptly dropped 10% after hours.  Obviously, investors did not like what they heard.
	Dell reported earnings a penny shy of estimates and revenues that slightly beat forecast.  With revenues higher and earnings lower, they obviously reported lower margins.  Operating income, as a percent of revenue, [...]]]></description>
		<wfw:commentRSS>http://www.financialreference.com/blog/2007/11/30/dells-earnings/feed/</wfw:commentRSS>
	</item>
		<item>
		<title>Losing = Winning?</title>
		<link>http://www.financialreference.com/blog/2007/11/18/losing-winning/</link>
		<comments>http://www.financialreference.com/blog/2007/11/18/losing-winning/#comments</comments>
		<pubDate>Mon, 19 Nov 2007 01:23:25 +0000</pubDate>
		<dc:creator>Brian</dc:creator>
		
	<category>Personal Finance</category>
		<guid>http://www.financialreference.com/blog/2007/11/18/losing-winning/</guid>
		<description><![CDATA[	It&#8217;s a wonder that in any serious pursuit, someone could be happy that they were behind.  It&#8217;s even more perplexing when the pursuit is the alpha-dominated investment industry.  But I think Jonathon Clements is on to something.
	In an article written today, I&#8217;m a Loser and I Couldn&#8217;t Be Happier, Clements discloses that he [...]]]></description>
		<wfw:commentRSS>http://www.financialreference.com/blog/2007/11/18/losing-winning/feed/</wfw:commentRSS>
	</item>
		<item>
		<title>Market Turmoil</title>
		<link>http://www.financialreference.com/blog/2007/11/13/market-turmoil/</link>
		<comments>http://www.financialreference.com/blog/2007/11/13/market-turmoil/#comments</comments>
		<pubDate>Tue, 13 Nov 2007 14:12:43 +0000</pubDate>
		<dc:creator>Brian</dc:creator>
		
	<category>The Wife's Perspective</category>
		<guid>http://www.financialreference.com/blog/2007/11/13/market-turmoil/</guid>
		<description><![CDATA[	I tend to be more concerned about day to day fluctuations in the market than Brian does.  I can&#8217;t help but be happy when all of our stocks are up and a little upset as things go down.  
	Brian used to have all of our portfolio information on yahoo, so at the end [...]]]></description>
		<wfw:commentRSS>http://www.financialreference.com/blog/2007/11/13/market-turmoil/feed/</wfw:commentRSS>
	</item>
		<item>
		<title>Banks</title>
		<link>http://www.financialreference.com/blog/2007/11/08/banks/</link>
		<comments>http://www.financialreference.com/blog/2007/11/08/banks/#comments</comments>
		<pubDate>Thu, 08 Nov 2007 12:53:41 +0000</pubDate>
		<dc:creator>Brian</dc:creator>
		
	<category>Investing</category>
		<guid>http://www.financialreference.com/blog/2007/11/08/banks/</guid>
		<description><![CDATA[	&#8220;When there&#8217;s blood on the streets, buy property.&#8221; - Baron de Rothschild
	Every major bank is being hit with concerns over the debt they hold.  Yesterday, Morgan Stanley reported a $3.7 billion hit to their fourth quarter earnings.  Previously, Citigroup announced a $8-11 billion hit to their fourth quarter, after taking a hit in [...]]]></description>
		<wfw:commentRSS>http://www.financialreference.com/blog/2007/11/08/banks/feed/</wfw:commentRSS>
	</item>
		<item>
		<title>Misvalue</title>
		<link>http://www.financialreference.com/blog/2007/11/03/misvalue/</link>
		<comments>http://www.financialreference.com/blog/2007/11/03/misvalue/#comments</comments>
		<pubDate>Sun, 04 Nov 2007 03:26:15 +0000</pubDate>
		<dc:creator>Brian</dc:creator>
		
	<category>Investing</category>
		<guid>http://www.financialreference.com/blog/2007/11/03/misvalue/</guid>
		<description><![CDATA[	In the last post, I said that I would much rather mistime than misvalue.  This reminded me of an article I read recently.
	Michael Sivy writes an article every month for Money magazine in which he updates his recommended portfolio (the &#8220;Sivy 70&#8243;).  Considering he only has to update his portfolio once a month [...]]]></description>
		<wfw:commentRSS>http://www.financialreference.com/blog/2007/11/03/misvalue/feed/</wfw:commentRSS>
	</item>
		<item>
		<title>Timing</title>
		<link>http://www.financialreference.com/blog/2007/10/31/timing/</link>
		<comments>http://www.financialreference.com/blog/2007/10/31/timing/#comments</comments>
		<pubDate>Thu, 01 Nov 2007 01:30:41 +0000</pubDate>
		<dc:creator>Brian</dc:creator>
		
	<category>Investing</category>
		<guid>http://www.financialreference.com/blog/2007/10/31/timing/</guid>
		<description><![CDATA[	I have never been good about timing the market.  My recent posts, buy financial companies and sell UEC (Uranium Energy Corp) have not performed as expected so far.  (It has only been a couple weeks so far.)
	Financial companies have continued to feel pressure from the mortgage crisis prompting further selling.  This has [...]]]></description>
		<wfw:commentRSS>http://www.financialreference.com/blog/2007/10/31/timing/feed/</wfw:commentRSS>
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