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THE 7 New Rules of Financial Security and why you need to know them Bigda, Carolyn, Lim, Paul J. John Maynard Keynes, the Depression-era economist who's having quite the comeback, once quipped when he was accused of inconsistency: "When the facts change, I change my mind. What do you do, sir'" MONEY has long advocated the benefits of consistency in your investing and financial planning. People who swing between bold risk taking and neurotic conservatism almost always get their timing wrong, falling for the hype in the good times and missing the real opportunities in the bad. But occasionally the facts change too much for you to stick to old ways of thinking. This is one of those times. The past year has seen the simultaneous collapse of the stock, housing, and credit markets-and now of an economy that relied too much on all of the above. So how do you adjust' First, think hard about the risks you face, because they may not be what you thought they were. This can change how you save, invest, borrow, and plan. In this story, we'll examine the flaws in the conventional wisdom about managing your money and propose some new rules for the road ahead. In the foldout that follows, we'll show you how to apply them to each stage of your life. RULE No. 1 OLD THINKING: If you can stomach the ups and downs that come with risk, you'll be rewarded. NEW RULE: Risk isn't about your stomach. It's about making or missing an important goal. RULE No. 2 OLD THINKING: Keep enough money in ultrasafe accounts to cover life's emergencies, but no more. NEW RULE: Relying more on cash can rescue you in an "asset emergency." RULE No. 3 OLD THINKING: The longer your time horizon, the more stocks you should own. NEW RULE: Time isn't everything. You must also consider your earnings potential. RULE No. 4 OLD THINKING: Borrowing sensibly is a good way to build wealth. NEW RULE: Borrow cautiously. You have to worry about the other guy's debt too. RULE No. 5 OLD THINKING: You can expect your house to appreciate handsomely over the long run. NEW RULE: Your home won't make you rich. But it is an important savings tool. RULE No. 6 OLD THINKING: A diversified portfolio lowers your risk. NEW RULE: Diversification won't always save you-and you need more of it than you think. RULE No. 7 OLD THINKING: Retiring early is a prize. NEW RULE: Retiring early is a problem. Business Ethics Kaushal Kaushal described the world a rich combination of different cultures and every culture has some unique elements in it that distinguish it from the rest of the other cultures. The fundamental values in the society developed over the time into ideologies or world views. The culture, religion and constitutions are the sources of the values. Value itself is judgmental in nature and they endorse such beliefs in an individual that are important in formulating his personality. Lord and Ranft (2000) examined the transfer of local market knowledge within the diversified US based firms as their divisions expand into a new host country. The results suggested that as US firms expand into new international markets, their organizational learning processes differ significantly. Boys will be boys: gender, overconfidence, and common stock investment Barber M. and Odeon T Barber and Odeon (2001) through their theoretical models predict that confidence has a direct link with trading and hence overconfident investors trade excessively. Lee and Ho (2003) analyzed the factors affecting the internet trading in Singapore. Their results showed that attitude and social factors significantly influence investors' intention towards adopting Internet stock trading. Decision process in German mutual fund companies: evidence from a telephone survey Dracher, K. Kempf A. and Wagner M Drachter conducted a survey of equity fund managers in Germany. Using data from these surveys, they find that fund manager status depends on human capital value (e.g. educational achievement, and skills enhancement), number of work hours, and marital status. Coleman (2007) uses a survey of Australian senior finance executives to examine the influences of personal characteristics and personality traits on decision making in the face of risk. The test of risk propensity is conducted by means of decision about whether or not a fictional auto racing team should choose to race or not in the Grand Prix. Yiming Hu et. al. (2008) examined various factors affecting Chinese financial analysts’ analyzing abilities and job quality and found that financial analysts with better educational background, more experience, superior resources provided by large brokerage firms can preformed better. Additionally, they also found that analysts’ educational background has a positive impact on their analyzing ability while analysts’ work experience improves their job quality.