NBA Hall of Famer Charles Barkley revealed on CNBC’s Closing Bell program last week that he invests with Raymond James Financial Services. Barkley says he works with Birmingham, Ala.-based advisor Glenn Guthrie. “I’ve been with him for 27 years and I’d trust him with my life,” says the current analyst for Inside the NBA. Barkley’s biggest money mistake? Getting greedy with stock options, he says, adding that when investors have stock options, take 50-60 percent of it, don’t try to wait until it hits 100 percent because sometimes they go back down. (About 1:45 into above video clip)
Is the Art Boom Really a Bubble?
Auction houses Sotheby's and Christie's combined sold more than $1 billion worth of art at their November contemporary sales, the latest in more than a decade's bull market for art sellers. But Carol Ryan writes on BreakingViews.com about Georgina Adam's book, "Big Bucks: The Explosion of Art in the 21st Century" and how wealth from emerging markets and the rise in riches at the top end of the affluence spectrum continue to drive prices up. In fact, the book quotes Francis Outred, Christie's head of contemporary art, that he would not be surprised to see a work of art sell for $1 billion in his lifetime.