Most Americans have become accustomed to the idea that when they use Google or Facebook, information on their Internet habits is being sold to advertisers who want to target them with ads. But until now that phenomenon has been mostly confined to cyberspace, and there are ways to avoid them. That's all beginning to change though. Now industries that were around even before the Internet are attempting to make profits from your private information. The most dangerous of these is your bank. The Associated Press has reported that banks are selling information on customers' spending habits to … [Read more...]
Survive and Thrive December: Rich Grandchild, Poor Grandchild
Dear Survivor, This is one of my favorite investment pieces by the late Richard Russell: Rich Man, Poor Man By Richard Russell The most popular piece I’ve published in 40 years of writing these Letters was entitled, “Rich Man, Poor Man.” I have had dozens of requests to run this piece again or for permission to reprint it for various business organizations. Making money entails a lot more than predicting which way the stock or bond markets are heading or trying to figure which stock or fund will double over the next few years. For the great majority of investors, making money … [Read more...]
Save Yourself! 92% of Wealthy Danes Want to Pull Their Money from Banks
In Denmark, the central bank began setting negative rates in 2012, and for wealthy Danes, it's been a chore to avoid giving money to the banks ever since. There are 178,000 Danes with more than 750,000 crowns in the bank, and they have been moving money to separate accounts, or simply taking it out of the bank altogether ever since negative rates were instituted. Who wants to pay the bank to hold their money? No one, of course. Last week I detailed for you the growing trend of wealthy individuals using safety deposit boxes. A safety deposit box has many benefits besides moving your money … [Read more...]
Season’s Greetings from Bartlett, NH
Season’s greetings from our cabin in Bartlett, NH. … [Read more...]
First Responders Say in a Big Disaster: “We’re Not Coming”
You're on your own in a big disaster, according to Cristina Gonzalez of the Los Angeles Emergency Management Department. Angelenos, and everyone else should take those words to heart. In the event of a really epic disaster like the potential "Big One" earthquake, or Hurricane Irma which hit Puerto Rico, if emergency response personnel even make it to you, it's likely going to take a while. Gabriel Cortez reports on Gonzelez's statement in LAist: The two huge Ridgecrest earthquakes that rocked Southern California earlier this month shook a lot of people out of their earthquake … [Read more...]
Happy Thanksgiving!
How Has Gun Control Worked Elsewhere?
As the 2020 presidential election season heats up, the Democratic candidates are trying to sell a wide array of plans to infringe on your Second Amendment rights. So it seems fair to ask how gun control has worked out elsewhere. Probably nowhere else is a better comparison than the United Kingdom. L.A. Luebbert recently explained in America's 1st Freedom, that UK efforts to rein in gun violence haven't necessarily reduced violent crime. Luebbert writes: As the liberals repeat their mantra that gun control is the answer to violence, Americans need to ask, “How has that been working elsewhere?” … [Read more...]
Potential Index Fund Component Loses 98%
If you want to get an inside look at how the sausage is made with certain index funds, take a look at this story by Jacky Wong in The Wall Street Journal: The giants of passive investment need to get more active. Marble mining company ArtGo’s 3313 117.86% Hong Kong-listed shares fell 98% Thursday after index compiler MSCI, MSCI +1.24% in a rare U-turn, dropped its plan to add the company to its indexes. MSCI said the decision followed further analysis and feedback from market participants about the stock, which had soared 3,800% this year. A Heard on the Street column Wednesday may have … [Read more...]
RIP Jake Burton
In high school in the late 80s, my friends and I were part of the snowboarding revolution that Jake Burton was pioneering. I remember in my ski club taking a van full of skis, snowboards, and classmates to Canada. A 10-to-12-hour slog from Marion, MA to Quebec, a brutal drive. But it was all worth it once we were snowboarding from morning to late afternoon for the long weekend. It was such a great feeling because while most were skiing—we were snowboarding. It just wasn’t that common to see a lot of snowboarders at the time. Those were special memories from high school. Snowboarding on … [Read more...]
Here’s Why America Can’t Afford to Give Warren an Inch
In The Wall Street Journal, Amity Shlaes explains why even mild compromise with Democrats could unleash terrible consequences. She writes: She’ll only get halfway. That’s the consensus on Elizabeth Warren: If the senator becomes president, Congress will wear down her ideological edge and stymie much of her radical agenda. The result won’t be something free-marketeers can love, but it will be something they can live with and then undo at a later date. Maybe not. The lesson of the 1960s is that political compromises with progressives can be much more consequential than they look—and preclude … [Read more...]
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