It is tough to understand the financial markets, stocks, and macro economics as played out in real life. Knowing the concepts is one thing, but figuring out how it really works is another.
Its easier to deal with straight math. But financial markets are a lot about feelings and speculations. How “confident” investors feel impacts the markets. Its hard to put feelings in an equation and try to work it out. You can try but the equation won’t balance.
For actuaries, it is important to understand the greater financial picture. Many of you will end up in insurance. Keep in mind that insurance is intertwined with lots of other industries and is also highly impacted by government regulation. So developing your skills of discerning financial and business trends will help you make better decisions in business and in your personal financial life.
And now in just 3 minutes a day you can become well versed in financial news. Sounds like an infomercial right? Ha. Anyway, I recommend checking out Finimize.com, which delivers a daily e-mail that boils down 2 financial news stories in laymen’s terms. I’ve been really enjoying it and wanted to share it with you. Its free.
What I really like about Finimize is that its goal is to teach, not just inform. They do a great job explaining WHY something is happening and what that means for you. Here’s a sample e-mail. I also like how in recent e-mails they answer questions from readers, which I personally find quite insightful.
If you try it out, let me know if you like it by posting a comment below.