A gorgeous, sunny, good morning to you from Newport, RI. Isn’t it amazing what a little sun can do to one’s psyche? Last week I told you how my SEP-IRA contribution was incorrectly deposited to my traditional IRA by Vanguard. Lucky for me, I caught their mistake early and avoided a potential paperwork hassle come tax-time next year. I chalked the error up to the fact that Vanguard is in the transaction business and mistakes happen. But in thinking about the issue further, I probably caught their mistake because I do this for a living. Which makes me wonder: is the average investor paying … [Read more...]
Fleetwood Mac and Lindsey Buckingham Go their Own Way
Lindsey Buckingham is out of Fleetwood Mac, according to the band. ‘‘Lindsey Buckingham will not be performing with the band on this tour,’’ the statement said. ‘‘The band wishes Lindsey all the best.’’ One of the driving forces behind the longevity of Fleetwood Mac is co-founder and drummer Mick Fleetwood. The self-taught drummer brings a straight-forward, unconventional style of drumming that’s hard to duplicate. Fleetwood Mac - Go Your Own Way (HQ) More here from the Boston Globe: Buckingham joined the band with then-girlfriend Stevie Nicks in 1974 and the two became the central … [Read more...]
This Book is a Fixture in My Office
“The more flippant the investing cliché, the more you should question it. Consider ‘the bigger they are, the harder they fall.’ At their lows this week, the technology shares that have until recently been the stock market’s darlings — Facebook, Amazon.com, Netflix, Google’s parent company Alphabet and other giants — had fallen more than 17% since March 13. Over the same period, U.S. stocks overall fell 8%,” writes Jason Zweig in his weekly column The Intelligent Investor. A fixture in my office is the book Security Analysis written in 1934 by Ben Graham and David Dodd. Zweig notes, “As the … [Read more...]
The War Party and its Due Diligence
“The sole beneficiaries of the gas attacks in Salisbury and Syria appear to be the War Party,” writes Pat Buchannan in The American Conservative. Some advice for National Security Advisor John Bolton: measure twice, cut once, if not at all. Most Americans, other than Bolton’s War Party, want to avoid another military engagement on foreign land. Unfortunately, as PJB points out, “With his Sunday tweet that Bashar Assad, ‘Animal Assad,’ ordered a gas attack on Syrian civilians, and Vladimir Putin was morally complicit in the atrocity, President Donald Trump just painted himself and us into a … [Read more...]
Big ‘Ole Black Bear in Connecticut
I met with clients from Connecticut on Friday. It was snowing of course. They showed me pictures of this big ‘ole black bear making an early Spring visit to their home. … [Read more...]
April 2018 RAGE Gauge Report
When you’re in the gun business is there a better salesman than former Supreme Court Justice John Paul Stevens? With Stevens talking about repealing the Second Amendment, it’s no surprise background checks, a precursor to gun sales are, are up. The risk trend in my RAGE Gauge analysis is up too across the board, except for one metric, unemployment. Thank you, Mr. Trump. Continue to invest with caution. By the way, did you see the unemployment rate numbers for Elkhart-Goshen, Indiana? It was 16.7% in October 2009 and is around 2.7% today. The RV business is humming. … [Read more...]
Southern Most Naval Station, Key West
U.S. air superiority is a worthy goal, especially when it comes to protecting our shores. With Cuba only 90-miles away it's something I think about when I’m in Key West. And with the recent developments in China, explained here by our in-house weapons specialist Steve Schneider, our ability to defend our shores may not always be as easy as it is today. When four military aircraft crashed recently and another earlier in March—a Navy F-18 near naval station Key West—I’ve questioned how we can keep our "edge" if there’s not enough funding for training. We know the prior administration did not … [Read more...]
China’s Plan to Defeat the World’s Most Advanced Fighter Jet
The Chinese are working on a solution to identifying targets at 200 miles for its very-long-range air-to-air missile (VLRAAM). David Axe of the National Interest reports that the Chinese military has proposed building a targeting network around its Divine Eagle, a high altitude long endurance (HALE) counter stealth UAV. The hypersonic VLRAAM is truly state of the art and, if coupled with an effective targeting network, could put the U.S. stealth fighters in jeopardy. The U.S. currently does not have a VLRAAM in its arsenal. The most advanced air to air missile in America’s arsenal is the … [Read more...]
Your Survival: What is Your Longevity Plan?
During a conversation with a client yesterday, she thanked us for sending her the book The Longevity Plan: Seven Life-Transforming Lessons from Ancient China. “Rather than put it on the bookshelf," she told me, “I’m keeping it on my bed-side table for easy reference.” We live busy lives today, where technological clutter abounds. One truth repeated throughout the book is the sophistication in simplicity, a concept Richard Young has referred to as a tenet for your investment success. From The Longevity Plan: Seven Life-Transforming Lessons from Ancient China, by Dr. John D. Day: “COME … [Read more...]
Digital Currency Risks: Sweden Considers Cashless Society
When you consider good governance vs bad governance, Sweden typically falls into the good camp. Life is pretty good if you’re a Swede. But a recent push by central banks to adopt a cash-free-society has put many on edge. Riksbank governor, Stefan Ingves, says going cash-less is for the “collective good” of society. “Most citizens would feel uncomfortable to surrender these social functions to private companies,” he said. “It should be obvious that Sweden’s preparedness would be weakened if, in a serious crisis or war, we had not decided in advance how households and companies would pay for … [Read more...]
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