Malkiel still likes a “Random Walk” 50 years on
Economist Burton Malkiel still thinks index funds — stock market mutual funds that index themselves automatically to the stock market in general — are the best way for just about everyone to invest, though he admits in the Wall Street Journal to having fun betting on individual stocks. The Journal caught up with him as the 50th Anniversary edition of his seminal work “A Random Walk Down Wall Street” comes to booksellers this January. He argued that average investors needed index funds before those funds even really existed.
Rocket Science in Glenville
The gaming company Rocket Science has $1.5 million plans to renovate the Glenville firehouse, the Albany Business Journal says. The company bought the 9,000 square foot building for $350,000. The Rocket Science studio will be the primary tenant in its building, but they are also creating space both to help workforce development in a partnership with Tech Valley Game Space, and to offer smaller gaming companies room. The story says they plan to open next summer. They are a company that fulfills contracts with other gaming companies.
Crandall Libary’s $5.3 million budget nixes most fees
The Crandall Public Library put forward a budget at $5.3 million that eliminates most fees and keeps property taxes where they are. Queensbury, Glens Falls and Moreau will pay the same as they did last year to keep the doors open and the books flowing. Individual property tax payers will not see an increase in their taxes due to the library. Patrons will still be charged for damaged or lost items, but the late return fees on books are gone so that people feel comfortable coming in and returning the late books, shame free, a story in the Post-Star says.
Participatory budgeting in Saratoga Springs, winding down for the year
The Saratoga Springs participatory budget committee will finalize their list of projects they believe should get funding in the 2023 city budget at a meeting this evening, the Daily Gazette is reporting. Any resident of the city, 18 years old or older, will be able to vote on the selected projects, and the city council will make a final decision, the story says. Creating a community garden, adding a fountain to the Saratoga Spa State Dog Park, and a change in park flowers have been considered thus far.