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Smart Money, Dumb Idea: Bad Bets by Financial Pros 

By Ben Steverman - 2013-10-22T17:22:03Z

Photograph by Getty Images

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Elizabeth Dunn: Bad Timeshare Timing

I made the dumbest real estate investment ever, at least from a financial perspective. Right at the peak of the market, I bought a quarter-share condo in [the Canadian ski resort town of] Whistler. I own 25 percent of the property and get it one week each month. I couldn't have picked a worse time and place to buy real estate in Canada. I just saw an article about how everything’s bounced back – except Whistler. Also, the condo association fees are sky-high. After more than five years, you could not force me to calculate how much money I’ve lost on this property.

Elizabeth Dunn is the author, with Michael Norton, of “Happy Money: The Science of Smarter Spending” and a psychology professor at the University of British Columbia.    

Report: The Fight Over Financial Literacy