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Weekend reading for investors: 7/2/09

Every week I read a huge number of personal finance and investing articles. I thought you might enjoy a weekly shortcut to the best.

First, my quick thoughts on the week’s news

So the Bank of England has cut interest rates to 1%. While anyone relying on cash savings should already have diversified their income portfolio, it’s still a terrible message to bail out borrowers (even if for the greater good) and punish prudent savers. Even the building societies wanted rates to stay at 1.5%.

But remember that with inflation falling fast, a 1% rate isn’t as bad as it might seem. In 2008 interest rates were 6-7%, but inflation was running at 5%. Inflation is now down to 3%.

The week’s best money posts

  • Pimp your Finances posted a great Investing Basics guest post from Mike at Oblivious Investor
  • Some of my splendid US readers have written to say they like my Zopa articles, but there’s no Zopa in the US anymore. True, but there are other peer-to-peer lenders – here’s a good introduction from Moolanomy
  • I’m almost scared to suggest you read the new The Behavior Gap blog, it’s so good. Try its latest post, The Great Reset
  • I don’t write much about debt here on Monevator; I hate it, except in mortgages, and I don’t like it much even then. If you’re worried your slipping into debt you may find this post on debt to income on The Digerati Life useful.
  • Trent at The Simple Dollar is continuing to push through The Intelligent Investor. If you’re going to write about one book chapter-by-chapter, it may as well be the best…

A few non-blog articles

  • I’m an investment trust fan, and their ability to hold back cash to keep raising dividends in 2009 (FT) is one more reason why. (Did you bag an investment trust on a discount when I wrote about them back in July? Prices have been up and down since then, but broadly flat.)

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Offer: Head to RateSetter to earn higher interest – and a £50 sign-up bonus – or learn more about this offer. Remember investing money with P2P lenders like RateSetter or Zopa involves more risk than with cash savings.

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