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Real-World Financial Tips From Virtual World Investing Pros



With Wall Street in disgrace and the economy in a nosedive, where should the country turn for financial advice? Would you ever think gamers? Since 2003, players on the massively multiplayer online role playing game (MMORPG) Entropia has been steadily building an economy that now boasts a daily turnover of $1.25 million per day. Entropia sports a real cash economy model of play where monetary units in the game (PEDs) have a fixed 10:1 exchange rate with the US Dollar and players use this currency to purchase anything from weapons and other items to pieces of virtual real estate. In fact, Club NEVERDIE, an asteroid space resort in the game, set a world record as the "Most Expensive Virtual Object" when it was purchased for $100,000 USD in 2007, an investment with an estimated value over $1 million USDs today. The game is free to join but like the real world, it often takes money to make money and many players treat gaming in Entropia like a job.

We had a chance to speak with some of those who have had tremendous success in the game (one player put his brother through college using his earnings) and they had a few words of advice for fallen Wall Street investors, who may have overlooked one of the core tenets of investing:

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Desperate Wall St Housewives and Girlfriends Start DABA Blog



While their men sit in front of financial Web sites sobbing, Wall Street wives and girlfriends are now logging onto their own Web sites and commiserating, according to the London Times.

The blog, called Dating a Banker Anonymous, affords "DABA Girls" the opportunity to bemoan the dwindling passions (and allowances) they face in the wake of the economic downturn. Precariously perched between sarcasm and arrogance, the site's wit is undeniable, but its morality is questionable. One poster, under the alias "Jen," remarked, "I hope the government earmarked some bailout money for ex-DABA girls. Without my FBF [DABA slang for 'Finance-Guy Boyfriend'] subsidizing my lifestyle, I am seriously over leveraged with Saks," adding, "And I'm not talking about Goldman."

While it is easy to lambaste these women (and their male cohorts) as shallow and materialistic (if not delusional), it is more appropriate -- we think -- to look upon them as the embodiments of the United States' worship of wealth and its impending demise. We can only hope that, in light of the present economy, we here in the States can quit lusting after Paris vacations, coveting Paris fashions and -- above all -- admiring Paris Hilton. Maybe, then, we can again esteem those lamentably antiquated ideals of hard work, humility and charity. [From: DABA via London Times]

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Brokers-With-Hands-on-Their-Faces Blog Records Market Woes in Pix


The facepalm is an expression that seems to be getting a lot of use lately, particularly on trading floors around the world as various global economic markets crumble. Traders hopped up on caffeine and sugar seem to be particularly emotive when things take a turn for the worse, making them quite entertaining to look at. That has spawned an aptly titled new site called "The Brokers with Hands on Their Face Blog."

It delivers just what you'd expect: regular samplings of investors wishing they'd chosen another line of work, or at least stayed home with the kids that day instead. The pictures are humorous for sure and it's hard to stifle a chuckle while scrolling through, but don't laugh too hard -- have you looked at your 401(k) lately? [From: Brokers with Hands on Their Face, via: BoingBoing]

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