Wishing you all a wonderful holiday and break. I hope you are staying safe and warm if you are in the path of this crazy storm! Bring it on, 2023!!!

Economics

• A Wealth of Common Sense is usually an interesting read with good data and graphics. This week, Ben Carlson gives his perspective on how long it will take to get to the Fed’s 2% inflation target.

Cryptocurrency

• The latest in the FTX saga: SBF is extradited to the US and is under house arrest at his parent’s house after posting a record $250 million bail (The Verge) while two of his former execs plead guilty and cooperate with the Government investigation. (Yahoo Finance, AP News) If you are interested in learning more about Caroline Ellison (Alameda), try this CoinTelegraph piece.
• Is it time to sell that bitcoin? Here is what Barry Ritholz has to say about it.

Investing

• Michelle Singletary has some advice if the market ups and downs of late are making you seasick. (WAPO)
• Jeff Sommer of the NY Times offers his advice in a similar article, assuring you that forecasts are likely to be wrong, so embrace uncertainty and focus on the next decade, not the next year.
• This article brings in Behavioral Finance—discussing how market swings may change perception of risk. (Abnormal Returns)
• Manipulating stock prices will (eventually) get you into trouble. The SEC caught up with eight influencers from Atlas Trading for their “pump and dump” schemes this week. (Of Dollars and Data)

Business

• Not all brick and mortar stores are shrinking their footprint. Barnes and Noble is making a comeback. (WSJ – subscription may be required)
• Fortnite users—were you a victim? The FTC fines Epic Games, maker of Fortnite, over half a billion dollars for violating child privacy laws and using dark tactics to get people to make in-game purchases.

Entrepreneurship

• Here is some advice from an entrepreneur with an impressive track record. Mark Cuban offers his rules for making money and becoming millionaire. (CNBC)

Retirement

• Retirement savings will get a “lift” if the spending bill passes Congress via the Secure Act 2.0. Included features would be automatic enrollment in some plans, increasing the age of mandatory withdrawals, and increasing the amounts older people can invest. (CNBC)
• If you get snowed in and still have power, and if you are close to retirement age, Christine Benz and Jeff Ptak of Morningstar are interviewed about their recent study “The State of Retirement Income,” in particular, about safe withdrawal percentages. (Morningstar-transcript, but links to the interview are included if you’d prefer to listen.)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.