“How often do we speak?” he asked. “That depends,” I said. “The firm I’m with now sets up an annual meeting,” he told me. “That doesn’t sound like enough,” I responded. “They’re responsive. If I have a problem or question, they get right back to me,” he said. How Much is Enough? That was just one conversation I had yesterday with a prospective client. He’s a frequent reader. He feels like he knows us. But it doesn’t seem like he knows his current team so well—the one handling his life’s savings. Until yesterday, he and I had never spoken before, but even so, he felt like he … [Read more...]
Your Survival Guy is Hopelessly Devoted to You
Your Survival Guy’s been prepping like any other crazed parent of college-aged children: for the day when school’s out for summer. This, unlike any other summer when the kids were little and lived upstairs full time, is different. A lot different. They’ve been away, living on their own, for eight months or so. During that time, Your Survival Guy and Your Survival Gal did the light lifting of dishes for two, enjoyed quiet evenings streaming what our little hearts desired, walked our dog like the spoiled child he’s become. And it was all rather nice. And then, two cars full of stuff arrived … [Read more...]
BlackRock Is Acting Like Joe Biden’s Bucket Brigade
Joe Biden is facing troubles both abroad and at home. In Europe, the war in Ukraine is extremely expensive, and its outcome remains to be seen. Here in the United States, the banking industry is increasingly volatile. But one similarity in both cases is that the Biden administration is relying on BlackRock to put out the fires like the company is his own personal bucket brigade. In Ukraine, BlackRock is being asked to smooth the way for large-scale business projects that will rebuild the country if the war ever ends. Ukrainian President Volodymyr Zelensky told the world about his meeting … [Read more...]
Emergency Food Prep You Might Actually Enjoy Eating
One of the problems with emergency food prep is the thought that someday you might have to eat it. Your Survival Guy keeps an MRE package on his bookshelf as a daily reminder. You just don’t know what’s going to happen. Period. But enough of that dire end of the world zombie apocalypse talk. In a conversation with a client last week, he told me they’re building FIFO shelves. Your Survival Guy remembers FIFO, first in first out, from his accounting days at Babson. Who knew it would come in handy for a real-life situation? A couple of weeks ago, I was studying a can of tuna (a … [Read more...]
Horses Out of the Barn, Chasing the Pack
When investing becomes a political beast, what happens to the participants' money? You know, the ones whose money is being invested? I’ve always felt public pension managers are too eager to be seen as doing the right thing. They invest in what I refer to as a “job security” approach. Their own job security, that is. They’re horses out of the barn investors chasing the pack. They can’t just stand there and do nothing. Stay tuned. Heather Gillers reports in The Wall Street Journal that pension managers are looking at offloading some stocks and adding private credit to their portfolios. She … [Read more...]
Flocks of Mopeds, Living Well, Houston We Have Starlink
You speak. Your Survival Guy listens. Because there are plenty of you out there—the fairly wealthy and highly successful—who’ve won the war. You’ve saved ‘til it hurt. Now you have something to show for it. And it’s time to have some fun. In my meetings with you and in our regular talks, I hear about the wonderful careers you had or are wrapping up (note to self: work for as long as you can). You know the names of customers, patients, clients, and co-workers, many of whom you helped along the way. You helped educate them, for example, about the road less traveled. The path of living well … [Read more...]
Your Survival Guy and Warren Buffett Love Dividends
Your Survival Guy loves dividends, as does Mr. Buffett. The key divergence from Warren Buffett’s Berkshire Hathaway stock is that Your Survival Guy likes getting paid on a regular basis with a tax-favored dividend payout. Berkshire, though, doesn’t pay out a dividend to shareholders. Akane Otani writes in The Wall Street Journal: What has made Warren Buffett’s stock portfolio so successful over time? One answer is an uncanny knack for picking good businesses. Another, according to Mr. Buffett, is something more understated: an appreciation of dividend-paying stocks. Dividend stocks … [Read more...]
ESG, Digital Currencies, Too Big to Fail, U.S. Dollar and…
These are troubled times. ESG, digital currencies, too big to fail, U.S. dollar reserve currency status on shaky ground; what’s next? I’ll tell you. It’s time to batten down the hatches. Invest where you get paid. Save ‘til it hurts. Live within your means. Work for as long as you can. Get multiple streams of income in your portfolio. My goal for you is to take advantage of cash flow. It’s why I want you to have some dividend religion and a fixed income strategy for times like these. I want you to own your stocks and bonds outright. I don’t want you in the mutual fund kiddie pool with the … [Read more...]
Estate, Wealth Planning: Everything I Know About Horses
Your Survival Guy was speaking with a long-time client the other day. He’s an expert on all things animals. One day, a friend of his said he should meet her dad. Dad was in his early 90s and made a fortune as a racehorse breeder. She thought they’d hit it off because of my client’s interests, and they did. When they were all in the father’s den having coffee, he asked my client, “Has she told you about my book?” “No, she hasn’t,” my client said. “Honey,” he said. “Would you mind grabbing it for me?” Handing the leather-bound book to her dad, he blew off the dust and handed it to my … [Read more...]
Municipal Bonds? I’ve Kept This in Mind Ever Since
Not all fixed income is created equal. Bonds are not all the same. The right one for you must have a margin of safety. Picking the bond that is right for you is job number one. Unfortunately, investors look at how high the yield is first. Safety is something they consider second, if at all. There’s not enough focus on the return of principal. And there’s no excuse for that. People drive all over town for the best price on a gallon of gasoline. Everyone’s looking for “deals.” They jump through hoops to save a couple bucks. But investing? I can’t believe the stuff people buy. Due diligence … [Read more...]
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