Dear Survivor, As my nephew asked me the other day, home from college and all the stuff one learns: “Uncle E, how you livin’?” “How I’m livin’?” I thought to myself. I haven’t thought about it. But it gets right to the point, doesn’t it? Which brings me to my conversations with you. I know how you’re livin’—quite well—because you tell me. Here’s what you’re doing. Fly fishing the Keys, catching some rays in St. Somewhere, hitting the powder out West, spending plenty of time relaxing on the beach, paying exorbitant prices for boat drinks, building houses and dreams, planning more … [Read more...]
Are Some Bank CDs Fool’s Gold?
Beware bank CDs that mature and roll directly into another CD, potentially at a much lower rate. Imani Moise explains this scenario in The Wall Street Journal, writing: John Furlong signed up for a certificate of deposit last year that paid 3.85%. When he checked his account in February, he was surprised to find the bank was only paying him 0.05%. The 62-year-old construction manager thought there was a mistake. Then an employee at his branch in Henderson, Nev., told him that his $50,000 CD had matured and automatically rolled into a new one that was paying a lower rate. The only way to … [Read more...]
RIP Daniel Kahneman: Thinking, Fast and Slow
Daniel Kahneman, one of the founders of behavioral economics, a branch of thought that sees people as they are, impulsive, prone to mistakes, and pushed by their emotions, rather than the fully rational actors of traditional economic thought, has passed away at 90 years old. Kahneman was a psychologist first, and an economist by happenstance. He understood that people's desire to "do something," is what could get them into trouble. He said, "All of us would be better investors if we just made fewer decisions." Sounds like Jack Bogle's "Don't just do something, stand there." Making emotional … [Read more...]
Happy Easter: Enjoy the Sweet, Parisian, Macaron
Now owned by billionaire Stephane Courbit’s LOV group, Ladurée is celebrating its 162-year anniversary, and as I wrote to you back in 2019, that’s a lot of history. Standing on the steps of the Madeleine church in the 8th arrondissement, looking down Rue Royale, you can see the Place de la Concorde. Where Rue Royale meets Rue du Faubourg Saint Honore, across the street from Gucci, you’ll see the mint green awnings of maison Ladurée, home to the macaron (pronounced mah-kuh-ron)—meringue like cookies, the color of Easter eggs, sandwiched with an emulsified filling. Groupe Holder is the … [Read more...]
Happy Easter: A Family Hunt for Dow 80,000
As you prepare for the quarter’s end, let’s reflect on where we’ve been. As the Dow Jones Industrial Average temporarily crossed 40,000 were you reminded of how far we’ve come? Because in my conversations with you, you tell me you remember when it was Dow 10,000, 6,000, or lower. The older we get, the higher the Dow goes, the more astonishing its new highs become. I know this isn’t your father’s or your grandfather’s stock market. But it can feel like it. What has been true at different stages for them might be true for you: Stocks tend to go up, but not on your schedule. Who doesn’t … [Read more...]
Your Retirement Life: Are You Talking with Your Advisor?
In my conversations with you, you tell me how you’re feeling. That’s OK. I’m up to the task. “Just checking in” calls are a way for me to hear you. And it’s nice that most, not all, of our conversations are about other things than simply investing. Just this week, you told me about the van you refurbished, shooting your age in golf (since you were 72, I might add), skiing, fishing, planning a cruise, and much, much more. Action Line: It’s called Your Retirement Life for a reason. It’s not about me. When you want to talk, I’m here. In the meantime, click here to subscribe to my free … [Read more...]
A Warning from Japan
It takes more yen to buy a dollar today than at any time since 1990. Not even during the Asian Financial Crisis did the yen become this weak compared to the dollar. Foreign exchange is a matter of comparison, and right now, the US Dollar happens to be a nice house in a bad neighborhood. The Wall Street Journal's editorial board writes of the yen: Excitable market analysts talk as if the main risks to the global economy are when and how much central banks will raise interest rates. A different danger came into view in Japan on Wednesday as the yen plunged to another multi-decade low … [Read more...]
Your Survival Guy vs. The Boston Globe
I’m a long-time subscriber to The Boston Globe but even I have my limits. I’ve canceled numerous times only to come back to see what’s going on. It’s not good. I can’t even look at the front page it’s so bad as I quickly page to the sports section. Even the sports section has been infected with the progressive viewpoint. But I put up with it because it’s my opinion that athletes, like musicians, and those who cover them don’t have time to read about what’s really happening in the world. My advice: Start the day with www.yoursurvivalguy.com and seek the truth. Here's a sample of today's … [Read more...]
Key West Insider’s Guide: UVA Wine Shoppe
I hope you’re looking forward to being with family and friends this Easter. If you’re in Key West, stop by and see our friend Mark Gambuzza at UVA Wine Shoppe. Originally posted on December 28, 2023. Your Survival Guy wants you to get away from it all this winter. A tropical break, if you will, to my home away from home, Key West. You can read my insider’s guide here, and I’ll have plenty of updates along the way. Having spent a couple of weeks in Key West over Thanksgiving, we had ample time to stop in and visit our friend Mark Gambuzza at his wine shop, UVA Wine Shoppe, located on … [Read more...]
Investors Are Fat, Dumb, and Stupid
Let’s imagine it’s 1999. You’re about to retire. You had a good career. And like anyone else invested in stocks, you’ve had a good run. Then, some time goes by, you’re on a European riverboat cruise, and boom, the tech bust hits. That was the exact moment many investors realized their risk tolerance was, in fact, intolerance. Like a food allergy. But it was too late. In my conversations with some investors—not you, of course—expectations today are still through the roof. That’s what a bull market will do. And as you know, the common refrain is “I want preservation of principal and growth.” … [Read more...]
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