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Longstanding baseball fans fondly remember Hall of Fame pitcher Phil Niekro. The great knuckleballer had a strong motivation for making it as a pro, since the alternative was going to work in the coalfields like his father. When a Milwaukee Braves scout expressed interest in signing him, Phil’s dad stepped in to negotiate over the family’s kitchen table. The scout offered a contract for $275 a month contract and explained that the payment for signing would be $500. As Phil told the story, the senior Mr. Niekro replied, “That sounds good, except for one problem: We don’t have $500.” This tale is probably apocryphal. It suspiciously resembles jokes based on the same misconception about the

FINANCIAL EDUCATION ESSENTIALS
  1. "Best ideas", R. Cohen, C. Polk, B. Silli, 2010

  2. "How active is your fund manager? A new measure that predicts performance", M. Cremers, A. Petajisto, 2009

  3. "The inefficient stock market", R. Haugen, 2002

  4. "The triumph of the optimists", E. Dimson, P. Marsh, M. Staunton, 2002

  5. "From efficient market theory to behavioral finance", R. Shiller, 2003

 

 

 

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