Coronavirus Infects Stock Market: Part XXXIX You’re seeing up close how blue state governors love states’ rights only when they’re in charge and what a mess it creates when different rules apply across state lines. Take a look at Rhode Island and Massachusetts, for example. Rhode Island has shelter in place until next Monday, May 9, while in Massachusetts the end date is May 18. Yet, Rhode Island is more strict, prohibiting groups larger than five while Massachusetts allows ten. My parents and my sister’s family live in Massachusetts. When we gather, we make a group of ten. That’s … [Read more...]
You can Bank on This: There Will be Problems
Coronavirus Infects Stock Market: Part XXXVIII This is getting old. Walking our dog around Newport yesterday, my daughter said how weird it feels seeing all the shops and restaurants empty. We walk the same route regularly and have for years. We never stop at the shops and restaurants, but it feels good imagining what’s going on inside. I didn’t want to go down this road with you this morning, but will we ever get back to business as usual? You and I know a lot of these restaurants can’t make the numbers work, and staffing is an issue at least until the end of July when unemployment … [Read more...]
Future Look at Covid-20, or the Next Deadly Virus
Coronavirus Infects Stock Market: Part XXXVI What will the response be for Covid-20 or some other deadly virus down the road? Imagine what it will be like when there are opposing views within families, never mind on the county, state, and country levels. Let’s begin with investing. Guess which area has done well. Companies that offer stuff people need, such as consumer staples—specifically dividend payers with a history of increasing them. Compare a tech app on your iPhone you can delete with a swipe of your finger. How about relationships? When your spouse has a check-list before … [Read more...]
Cure is Worse than Disease as Government Loses It’s Way Back Home
Coronavirus Infects Stock Market: Part XXXV You feel it in your gut: The cure is worse than the disease. The numbers don’t support a stay-at-home, out-of-work policy for an entire country, never mind most of the world. Turns out Sweden was right from the beginning as was President Trump, who explained that America is not meant to be closed for business. Business, not the government, is our country’s lifeblood. Don’t tell that to the blue states though, as they demand bailout checks for pensions—math that even a first-grader knows doesn’t work. Remember the Golden Rule muni bondholders: He … [Read more...]
The Unintended Consequences of Governors Gone Wild
Coronavirus Infects Stock Market: Part XXXIII As some states inch their way back to a soft-open, there will be plenty of losers, many of whom have done nothing wrong and who are healthy. Think about Rhode Island Gov. Gina Raimondo’s comments yesterday telling businesses they’ll have to allow employees 60 and older to work from home, or offer more paid sick leave. At the outset, most businesses will comply, but what if this type of thinking becomes law? Why would businesses pay more to hire older workers or keep them on staff? Do these governors ever think about small business owners and … [Read more...]
After the Coronavirus: Successful Investing and Good Health
Coronavirus Infects Stock Market: Part XXXI Let’s get this out of the way: There is no magic bullet to successful investing or to good health. Both are a culmination of decisions leaving you with a body (of work) to show for it. Is there any doubt those most susceptible to COVID-19 have a weakened immune system? Is there any doubt those most susceptible to investing mistakes take risks? What’s scary is, both groups oftentimes don’t even realize their precarious state. They don’t see the risks staring back at them in the mirror. They believe, for example that passive index funds … [Read more...]
Your Retirement Life: Investing After Coronavirus
Coronavirus Infects Stock Market: Part XXX Some thoughts as you second guess your retirement (or your spouse does for you). The late Richard Russell, in remembering the Great Depression: The most valuable asset you have is a J-O-B. (You know RR from Rich Man, Poor Man, an all-time favorite of mine.) Russell knew the pain when his father was jobless; losing confidence and self-worth; remembering a job does a lot more than just provide money. Our loudmouth governors will not be able to keep Americans indoors forever: Don’t Tread on Me. Make it your job to get out of debt. The … [Read more...]
Stimulus Checks for Guns
One client tells me his gun shop, once again, is seeing record sales. This time from the stimulus checks. The $1200 check is about the perfect amount for a new handgun or rifle and some ammo. At least some Americans are putting it to good use. Sales were already soaring as Americans, nervous about civil unrest caused by the coronavirus, purchased new firearms in droves. Many of these Americans were first-time buyers of guns. The Elko Daily Free Press reports: “Sales are definitely up,” said Bob Buckley, who owns Arms R Us in Spring Creek. “Delivery is probably the biggest problem at … [Read more...]
How to Avoid COVID-19 Stimulus Scams
You hear your phone ring, and see an unfamiliar number calling. It's someone from your area code, but no one you recognize. Despite your gut feeling telling you to ignore the call, you pick up thinking maybe it's an acquaintance or colleague you haven't added to your contact list. You answer and are instantly barraged with a recorded message informing you that to receive your stimulus check you must hand over all your personal information right then and there. Unfortunately, that's the scenario playing out across America today, and even though most people recognize the scame, some … [Read more...]
Investing After the Coronavirus
Coronavirus Infects Stock Market: Part XXIX Imagine falling 200 feet while descending Mount Washington, slamming into a pile of rocks that prevents you from going over the edge—and needing a rescue. That’s the scary scenario one hiker found herself in recently. “It was these rocks that ultimately saved her from plunging into the ravine, a fall that would have likely proved fatal,” said Fish and Game Lt. Mark Ober Jr. in a statement. “Her companion was able to descend to her position, place a call for help and keep her warm with a space blanket until rescuers arrived.” The hikers were … [Read more...]
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