Inflation? Yes. Your Survival Guy paid $19.50 per pound for fresh cod last week. I know you’re seeing inflation too because you’re telling me about it. How about buying a boat? New ones are back-ordered for months because of a shortage of resin and off-the-charts demand for new boats. How about used boats? This is anecdotal evidence, but the for sale listings in the back pages of On the Water magazine are scarce. In the past, there would be several pages worth of listings. The most recent issue? Two pages. You can’t find a boat today. Not to mention a good fishing rod and reel to go with … [Read more...]
Inflation and Destruction of the U.S. Dollar University
With inflation running hot, team Biden is actually thinking about forgiving student debt. When you run out seven percent inflation (not impossible) for ten years, debt is half of what it was. Coincidence? Hardly. While Biden ratchets up inflation to pacify the radical progressives and students who put him in office, the American middle class will suffer. Kristin Tate writes in The Hill: The sharpest tax President Biden is levying upon Americans is one that was never passed by Congress, promised from the White House, or voted on by citizens at the ballot box. The invisible tax of rising … [Read more...]
Your Survival Guy Presents to Prestigious Med School
Excerpts from my Wednesday presentation to recent grads and associates of an esteemed NYC med school: How to Invest and Create Wealth You’re asking me how to invest. Here’s what I recommend: Start early, participate in your company’s 401(k), reduce your debt, cut your spending, save ‘til it hurts, work as long as you can, and teach your family about money. That should get you started. Doesn’t sound like much fun? I know. But this does. Time Travel is Fun Imagine stepping into a time machine traveling into the future. You spent the day opening up your summer home in the Hamptons, on … [Read more...]
Living Your Best Life: Your Calls & Emails to Me
Your Survival Guy is working in the trenches for you. And that's OK. I like the view from where the boots hit the ground. It's where the real stuff happens. Here's what you're telling me this week: "Hello, E.J. Let me know your thoughts when you receive my Secure Upload. I'm sending statements from family members and my business. By the way, I also bought some land in South Carolina and Austin, TX, and I own some gold coins I bought years ago thanks to your father-in-law. Have a nice long weekend. Let's talk Tuesday morning," he said. "Hi, E.J. Weather's beautiful. Wish you were … [Read more...]
Generational Wealth: You Can Turn $10,000 into $100,000
I hope you’re getting outside and enjoying some beautiful weather this spring. Here in New England it feels like a switch was flipped Sunday when temps jumped into the mid-80s and higher—too hot to walk the dog—but lately its been cool nights, warm days, and blue skies. Perfect for getting outside or launching your boat for the season. Will you be teaching a grandchild how to do something this summer? I hope you’re thinking about your investments and your life—where you are on your journey. We’re all in this together. Do you remember when you first started out as an investor? There’s … [Read more...]
Mark Cuban and the Bull Case for Blockchain
In the Wall Street Journal, Andy Kessler interviews Mark Cuban, owner of the Dallas Mavericks, a "shark" from the reality TV show Shark Tank, and a self-made tech billionaire. Kessler, whose work I have been reading for years, takes Cuban through an examination of cryptocurrencies and blockchain, and of where the value lies. Kessler writes: “Weather insurance (Arbol is a great example). With a smart contract I’m soon going to be able to have the Mavs buy weather insurance where using a smart contract I pick the temperature and precipitation thresholds and the smart contract checks the … [Read more...]
Your Survival Guy’s Summer Job, Inflation & You
One of my best business experiences was serving fish and chips and scooping ice cream at Oxford Creamery in Mattapoisett, MA, where I grew up. I remember feeling anxious before each shift, knowing I’d be missing out on some fun with my friends, and knowing how slammed work would be. That was especially true on a Friday night when the fish and chips special (with fresh cod from the boats in New Bedford) was the best around. With the line out the door, I had no time to think about missing out on fun with my friends. Waiting on a group of hungry customers fresh off the beach focuses the … [Read more...]
STUFF is BOILING OVER: Are You Paying Attention?
Listen up, are you paying attention? Stuff is boiling over around the world. It’s time you prepare accordingly. In talking with a client yesterday, we discussed whole life insurance. I don’t love it. I much prefer term life which we both agreed on (for me, I just want it until my kids are out of college). He said, “You know, that’s exactly what Peter Lynch used to recommend.” You remember Peter Lynch, don’t you? Author of One Up on Wall Street and famed manager of the Fidelity Magellan fund? His name was legendary in the halls of Fidelity when I was working there (Fidelity #1). In thinking … [Read more...]
Your Survival Guy: Cryptos, Stocks, Bonds & YOU
Other than what someone's willing to pay you, where does a cryptocurrency's value come from? Because when it comes to sources of value, with dividends from stocks and interest from bonds, you know where you stand. With cryptos, you hope someone doesn’t jump the line. When a company pays you a dividend (or a bond pays you interest), it worries about meeting its obligations to you. It sees you, unlike the anonymity of cryptos, banging your tin cup on the boardroom table saying: “Show me the money.” When a company issues stock, it’s giving up ownership, and with a bond, it’s taking on debt. … [Read more...]
You’re Telling Your Survival Guy This and More…
You’re telling Your Survival Guy about your recent fly fishing float trip to Wyoming, where your guide said, “We don’t wear masks around here.” Yet another reason I love the big, red, Cowboy State of Wyoming. Contrast Wyoming with NYC, and you realize the importance of having some space to move around. The same client tells me he booked a summer house on the Cape months ago but said it was a challenge booking for the fall. Your Survival Guy’s take: Welcome to the extended summer vacation and the extended spending to follow. But will the tap be dry this time next year? You’re telling me about … [Read more...]
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