Small-business owners prepare for slow months, seasonal slumps, and staffing interruptions. They even spend time planning for natural disasters, cash flow shortages, and changes in government regulations. But one of the last things most businesses are ever thinking about is being looted in times of social turbulence. That is, unfortunately, what is happening today to an increasing number of New York City businesses. The NYPD has reported a 75% increase in burglaries of businesses since March 12. Ben Chapman and Keiko Morris report for The Wall Street Journal: The increase in burglaries … [Read more...]
Investing Takes Faith
Coronavirus Infects Stock Market: Part XXIV Once again, you’ve been telling me all week how much you miss Richard C. Young’s Intelligence Report. That’s OK. I’m used to it especially in times like these. But don’t despair. If you’ve followed Dick’s advice, through thick and thin, you’re in the catbird seat today, because one of his most enduring messages has always been to be a prudent investor and to know thyself. To know thy risk tolerance like you know your family. (Sorry about the sheltering in place!). It takes faith to invest. It takes a little push forward to get you out of … [Read more...]
Coronavirus Infects Stock Market: Part XXI
How are you holding up? Other than the fact that today feels like yesterday, you’re telling me you’re OK. If you had a well-diversified, balanced investment plan—your retirement plan is still intact. Retirement planning isn’t fun. It’s not supposed to be fun. But, putting the fun aside, aren’t you glad you spent time thinking about your retirement many years ago? Whether through our conversations or Richard C. Young’s Intelligence Report, you began understanding the importance of a well thought out strategy. Based on the performance numbers for balanced portfolios, you’ve been able to … [Read more...]
Coronavirus Infects Stock Market: Part XX
Yesterday we entered a bull market with the Dow advancing 20% from it’s most recent low. Big deal. We are certainly seeing price discrepancies, especially in the fixed income market and have tied down some attractive yields for potentially years to come. The key to investing in markets like these is to stay focused, be patient, and always be ready to make a move when the research begins to show some real values. I have no interest in worrying if the coast is clear. That’s not investing. But seeking values certainly is. You have spoken and I have listened. Here’s what you told … [Read more...]
Coronavirus Infects Stock Market: Part XIX
You have spoken and I have listened. Here’s what you told me: How much you miss Richard C. Young’s Intelligence Report, especially if you’re not a client. I’m not saying that to rub anything in, this is not the reason for writing this. I just want you to know that you’re not alone and your words are not forgotten. This is my message to you today from one client: “E.J., times like these are why I’m with you guys. I’m good. Thanks for the call.” Read my entire series, Coronavirus Infects Stock Market here. … [Read more...]
Coronavirus Infects Stock Market: Part XVIII
Before you hear about my conversations with successful Americans like yourself, let's take a quick step back and look at where the market has been over the last 20-years and consider that if you're receiving dividends they help you dollar cost average through thick and thin. Every day during this crisis, I'm hearing about what you're doing to survive and thrive, and thanks to you, I've gained some valuable on the ground intelligence. Here's an email I received after a relaxed morning call with a client who is certainly prepared to live off the grid: One thing I didn't mention... It … [Read more...]
Cryptocosm and Life After Google
Update 3.25/2020: In February 2020, George Gilder gave a a speech to the CoinGeek conference in London. CoinGeek wrote "In his keynote presentation, George Gilder tackled two of the problems that the world economy faces: the collapse of internet security and the scandal of money." Originally posted July 18, 2018. My appreciation for Andy Kessler’s way of thinking began with Wall Street Meat and Running Money. A few years ago I had the opportunity to hear him speak at a Cato 200 gathering in Laguna Beach, CA. I continue to keep up with him through his commentary at the WSJ where, in … [Read more...]
Coronavirus Infects Stock Market: Part XVII
“Don’t let the cure be worse than the problem,” a thoughtful, and weary President Trump explained last night to America in a tone that was right on the money for the situation at hand. President Trump explained how we all need to do our part and that America was not built to be shut down and out of business. We need to flatten this curve and be open for business (my emphasis) because that’s what America does best. Let’s lead by example. Now that America is in day nine of self-isolation we’ve learned quite a bit about our politicians and how many are looking at this as an … [Read more...]
Coronavirus Infects Stock Market: Part XVI
When it feels like things are changing by the hour, a week feels like a year, and three weeks a lifetime. That’s how I feel this morning as I write to you from Newport, having scrambled home Monday, cutting short our ski vacation in Telluride, CO. Last Friday, at this time, we were waking up to a few inches of wet snow and windy conditions. We skied in what felt like a snow globe being shaken madly by a five-year-old. Visibility was nil. It snowed most of the night, and on Saturday (the mountain having been resurfaced with seven inches of light powder) we cut fresh tracks all morning … [Read more...]
Coronavirus Infects Stock Market: Part XV
You’ll recall it wasn’t too long ago that investing legends Warren Buffett, Jack Bogle, and my father in law Dick Young were calling for a prolonged period of reduced returns. Not only for the stock market but for bonds, as Dick Young’s North Star was scraping the bottom of the charts as if it had fallen out of the sky. At the time, Dick Young wasn’t predicting a pandemic like the coronavirus, he was simply studying what was in front of him just like he does today, and concluding that it looked pretty darn ugly. You see, when the risk-free rate of return costs you money (after … [Read more...]
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