If you want some inspiration for your savings, read this post I wrote back on September 2, 2016. It tells the story of Robert Morin and the power of saving. "Robert Morin worked nearly 50 years at the University of New Hampshire library and never seemed to spend any money,” writes Brian MacQuarrie of the Boston Globe. He ate fritos and coke for breakfast, a cheese sandwich for lunch and frozen dinners for dinner. I’m not saying this is the life for you. But I do think it’s pretty amazing how being frugal can impact one’s finances. At the core of Mr. Morin’s financial success is the fact … [Read more...]
U.S. is #1: World’s Most Competitive Economy
For the first time in a decade the U.S. is the world’s most competitive economy. That according to the World Economic Forum rankings. Thank you President Trump. And the good news is, there’s room for improvement. I can tell you from my conversations with investors that Trump has brought a new level of energy, an energy that was missing in the Obama years. And, finally, the misguided zero percent interest rate policy—a brutal time for savers as their life savings earned nothing as it was given away for free to Wall Street—may be behind us. Which leads me to believe that this is a … [Read more...]
Your Retirement Life: A Dire Warning Part III
It has been my experience that publicly managed funds, such as pensions, tend to be backward looking. They embody a rear-view mirror way of investing that is, often times, easier to defend to a committee to save one’s job, but not necessarily the best investment strategy, as I explain here and here. In another example of group-think, pensions are trying to “protect” against losses with a “crisis risk offset.” Sounds pretty serious. In reality, it’s a 20-year Treasury bond ETF that is almost guaranteed to lose money in an all but guaranteed rising interest rate environment. Remember, when … [Read more...]
This Harvard Professor Thinks a Recession Might Be Coming
Harvard economics professor, Martin Feldstein, who presciently said the U.S. may be in recession back in March of 2008, is again warning that a recession may be looming. He writes at The Wall Street Journal: The principal risk now is that a stock-market slowdown could shrink consumer spending enough to push the economy into recession. Share prices are high today because long-term interest rates are extremely low. Today the interest rate on 10-year Treasury notes is less than 3%, meaning the inflation-adjusted yield on those bonds is close to zero. The hunt for higher yields drives investors … [Read more...]
Your Retirement Life: A Dire Warning Part II
In Part I, I wrote to: You may want to pay attention to what public pensions are buying and, more often than not, do the exact opposite. Case in point, a few years ago this group loaded up on “alt-investments” and hedge funds. Don’t look now, but hedge funds, which charge an exorbitant 2-and-20 (2% per year on your assets under management and 20% of your investment gains), are going out of business left and right. And then, as reported yesterday in The WSJ, the California Public Employees Retirement System (CALPERS) spent more than $2 billion on Southern timberland and harvested the trees … [Read more...]
Stocks Crater 831 Points
On a day where the Dow shed 831 points and tech heavy Nasdaq lost over four percent, many bonds made money. It’s a simple, yet important, reminder of how counterbalancing works. … [Read more...]
Your Retirement Life: A Dire Warning
You may want to pay attention to what public pensions are buying and, more often than not, do the exact opposite. Case in point, a few years ago this group loaded up on “alt-investments” and hedge funds. Don’t look now, but hedge funds, which charge an exorbitant 2-and-20 (2% per year on your assets under management and 20% of your investment gains), are going out of business left and right. And then, as reported yesterday in The WSJ, the California Public Employees Retirement System (CALPERS) spent more than $2 billion on Southern timberland and harvested the trees at depressed prices to … [Read more...]
A Star is Born
If you can get beyond politics and do what you did when you were a kid—went to a movie for entertainment—then you’ll want to see A Star is Born. Because you’ll remember when you saw it. And you’ll want to see it again. I know Becky and I do. … [Read more...]
Your Retirement Life: Columbus Day in Newport, RI
Early October is a wonderful time to visit Newport, Rhode Island especially Columbus Day weekend. Discover Newport is a great place to find out what's happening each week. Here's what Brittany Lauro wrote about Columbus Day weekend: Columbus Day weekend on the Classic Coast brings with it all the fall feels as festival season kicks into full gear with seven (yup, seven!) fairs, festivals and major events taking over. Stroll cobblestone byways and enjoy special deals at the annual Columbus Day sidewalk sale on Bowen's Wharf where you'll find great deals on unique items from area shops; … [Read more...]
Rage Gage October: Interest Rates and Employment Up, Up, and Away
My early October readings are in, and clearly Americans are back to work thanks to the Trump Economic Revolution. And as interest rates rise, retired and soon to be retired investors can rejoice in the long-awaited Interest Rate Revolution. CNBC explained the good news for America's economy here: The number of Americans filing for unemployment benefits fell to a near 49-year low last week, pointing to sustained labor market strength, which should continue to underpin economic growth. The labor market, which is viewed as being near or at full employment, is steadily boosting wage … [Read more...]
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