Short Takes: Undeserved Bonuses, Pickpockets, and Beggars

1. Larry MacDonald brings us the story of billions of dollars in bonuses for Merrill Lynch staff in a year where they have so far reported over $14 billion in losses. I could use a bailout to pay bonuses to myself, family, and friends as well.

2. The Money Grubbing Lawyer tells the interesting story of his primal reaction to a swarm of child pickpockets in Indonesia.

3. Canadian Capitalist has some sage advice for tough times. Many people find it hard to be realistic about the possibility of being laid off. The prospect is just too horrible to imagine. But, it’s important to cut spending before being laid off to build a cash safety net.

4. Canadian Financial DIY explodes some myths about asset allocation. The oft quoted “asset allocation accounts for 90% of portfolio returns” makes little sense.

5. Frugal Trader finds the silver lining in the current recession.

6. Preet makes a strong financial case for owning a basic car and renting a fancy one occasionally when you want to impress.

7. Mr. Cheap brings us a thoughtful explanation of why he doesn’t like beggars. Perversely, the beggars who are good at getting money probably don’t need our charity. If you’re going to give money to a beggar, pick the one who is doing the worst job of extracting money from passersby.

8. The Big Cajun Man sees that leverage is tempting right now, but isn’t interested in taking the risk.

9. Happily, this blog has been released from Google’s doghouse. I guess a human finally looked at my content and decided that this is a real blog. Search engine hits are ramping up again as well. It looks like I’m back in business!