Is your broker making money lending out your cash? Because in times like these, banks are making money any which way they can. Thankfully Fidelity is not a bank. You can rest assure they’re not loaning out your cash. What are you sure about today? I’ll tell you what I know. First and foremost, we need to come to grips with low interest rates. This is more troubling than you think. When interest rates are this low, the average investor (not you, I hope) can’t sit still and just earn a couple percent. The average investor needs more. The average investor will think nothing of lending it … [Read more...]
Gov. DeSantis Backs Floridians’ Right to Protect Their Businesses
Florida Governor Ron DeSantis wants his constituents to be free to protect their families and businesses from riots and looting. He has proposed legislation that would allow Floridians to fight back against the chaos. Fox News reports: DeSantis’ newest legislation comes in response to months of protesting that frequently lead to rioting this summer in Florida and across the U.S., following the death of George Floyd, a black man who died after a white Minneapolis police officer knelt on his neck for nearly nine minutes. The legislation is an attempt to prevent “violent and disorderly … [Read more...]
“I’m a Plodder,” A Prospective Client Told Me Yesterday
“I’m a plodder,” a prospective client told me yesterday. “I like what you wrote last week, I read your stuff.” “Thank you,” I said. “Plodders are especially welcome in times like these.” In case you missed it, I wrote: Why You Should Listen to These Wise Men in Times Like These OCTOBER 30, 2020 BY E.J. SMITH - YOUR SURVIVAL GUY I recently received this message from a client: EJ, it was great talking to you yesterday. While doing a little reading last night I came across a quote I thought you might like. The Old Testament book of Proverbs was compiled by King Solomon who many … [Read more...]
Joe Biden Already Working to Bring Back the Bad Old Days
Remember how unhappy you were during the Obama administration? Slow, or no growth, higher taxes, and radical "Czars" running administration initiatives to "transform" America into something different. One of those czars was Ezekiel Emanuel. Most people know him as the "death panel" guy. Well, now Joe Biden wants to put the "death panel" guy on his COVID-19 response team. Emanuel wants to put America back into an economy-crippling shutdown, nationwide! The WSJ writes: “You have to actually have people at home, close nonessential businesses, stop bars, stop indoor dining, have everyone … [Read more...]
At Age 90, He’s Compounding Some Big Numbers
In speaking with a prospective client over the last couple of weeks, I’m here to tell you, the key to his success is TIME. At 90 years old, he’s compounding big numbers. He’s been doing it for years. He credits my father-in-law’s Richard C. Young Intelligence Report for his success. “It kept me on course,” he said. The reason we’re talking now (we also spoke five years ago) is that he lost his wife. He feels it’s time to make sure the portfolio is in good hands for his kids. “They don’t have a lot of interest in this stuff,” he said. “But they understand the Richard C. Young Intelligence … [Read more...]
What Communist China Meant to Her
In The Wall Street Journal, James R. Hagerty tells the story of Cecilia Chiang. He writes (abridged): Born in 1920 in Wuxi, near Shanghai, she was named Sun Yun, one of 12 children. She was later given the name Cecilia by a teacher at a Roman Catholic school. The family moved to Beijing when she was 4. Her mother, hobbled by bound feet, supervised the household servants. Her father, a French-educated engineer, decided that his daughters’ feet wouldn’t be bound. That decision was particularly fortunate because, in the early 1940s, the young Cecilia and one of her sisters spent months … [Read more...]
Who Wants to Live the Island Life? You Do
Originally posted September 14, 2020. Imagine sitting under a palm tree, toes in the sand, gazing across a turquoise sea with not a care in the world. Wouldn’t it be nice to feel like this most days of the week rather than only on vacation, especially in times like these? Now, I know it’s not exactly practical, even if you have a tropical island as the backdrop of your Zoom calls. But you’d be surprised at how much island life is right in front of your eyes. For example, when it comes to investing, my favored Prudent Man certainly stands alone as an island far away from your everyday … [Read more...]
Don’t Sweat It When She Asks, “Do We Have Anything to Watch Tonight?”
OK, we all know the real battle in your day begins when one of you asks, “Do we have anything to watch tonight?” Your palms sweat as dinner’s ready, and you have no idea what “you’re” going to watch. The last place you want to be is on the couch, dinner in front of you, toggling around tiles on your TV with not a clue what you’re looking for. I feel your pain. You can only watch the Crown so many times (I’m on our third loop around the empire). Unfortunately, investors get that exact sweaty palm feeling when they start punching in the ETF and mutual fund quotes on their computer to do a … [Read more...]
Greetings from Newport on This Beautiful November Morning
Good morning from Newport on this beautiful November morning—what an election—and it’s not over yet. You know from these pages how we turned the waters off Newport red this summer with a Trump boat parade that was even better in person. What the pictures can’t capture is the radio chatter. The emotions we heard over our marine radio were of boaters proud to be Americans. They were standing up for President Trump because he stood up for THEM. While walking down the dock to our slip, a fellow boater said, “good morning Cap., welcome to COVID free waters.” It was a casual gesture that took … [Read more...]
The Future May Surprise You: The Northeast Vote and the Blue Blob Cities
In reviewing the vote in the northeast and on the left coast, it’s clear the big blue population centers control the outcome. That’s nothing new. Just look at the state of New York, for example. It’s a sea of red overwhelmed by blue blob cities. I don’t see this lasting forever. Look around Newport, RI, for example, and you see cars with NY license plates everywhere. You also see ones from MA (Boston) as families are moving in. Why? Because COVID is the catalyst pushing families out of the cities. Families are no longer interested in the amenities of city life when the safety of their family … [Read more...]
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