Take a look at the first day of trading for 2016 and you’ll see the power counterbalancing can have on your portfolio. This is not a prognostication for the short-term price of gold—it’s a simply an observation of why I rarely sell positions that I value. … [Read more...]
How to Buy a Boat Part VI
A lot of great stuff happens when you’re on the water. It’s usually the things that you don’t plan which end up being the best memories. Like the time when I was shark fishing as a kid with my cousins, my uncle Ron, and my dad. My dad had a brand new pole. At one point he went down below to get some sandwiches and Uncle Ron began shouting, “Randy you’ve got a fish on your line!” Within seconds the pole was overboard. After lunch, Uncle Ron hooked onto to a sand shark and yelled, “Randy I’ve got something.” As it came into sight my dad said, “Ron! He’s got my pole!” The fish got away. But we … [Read more...]
How to Buy a Boat Part V
“If you’re going to buy a boat that is mass produced, make sure you don’t buy the one that was put together on a Friday afternoon,” Skip Helme, Owner Brewer Street Boatworks. Well Skip and I made our offer, it was accepted and we needed to get it surveyed. Skip said he knew just the guy: Steve Maddock. Turns out our boat was built on a Friday afternoon. Steve Maddock is one of those guys that’s so good at what he does you’re just happy he’s on your side. He’s not afraid to ruffle feathers and tell people what he thinks of the boat they’re trying to sell. So, Skip and I planned … [Read more...]
How to Buy a Boat Part IV
Money can’t buy you happiness, but it can buy you a boat. So with that in mind, Skip and I planned out our road (and sea) trip to Long Island. We chose Long Island because there were about five to ten boats of the specific make and model we were targeting for sale at various boatyards and dealerships there. Also, Skip summered on Shelter Island, NY and knew the area well. After looking at the first couple of boats, Skip suggested we come up with a back-of-the napkin scoring sheet. We graded each boat based on overall condition, hours on the engines, and an assortment of other factors. For … [Read more...]
How to Buy a Boat: Part III
Once you decide to buy a boat you can’t wait. I was working out with Jane Beezer early one morning updating her on my boat search. I told her Becky and I had been to a couple of boat shows and looked at some new boats on Cape Cod. I told her we loved the boats but there was no way were paying a new boat price tag. And then Jane asked, “Have you talked to Skip?” No, I had not talked to Skip. But the fact that Jane referred to him by his first name made me think: “I better talk to Skip”. I met Skip Helme during my lunch break. I told him why I was there and he said “Let’s go look at … [Read more...]
How to Buy a Boat: Part II
Once you decide you want a boat you need to decide what kind of boat: Power or Sail. I have a ton of memories from sailing as a kid. One that stands out is a re-occurring daydream I’d have. It would often happen while we were sailing out in what felt like the middle of nowhere—not a single boat in sight, a light breeze, barely moving. And I would think: How cool would it be to have a powerboat! Don’t get me wrong. Becky and I love sailing, especially on my parent’s boat Sunset. It’s moored in Mattapoisett—an idyllic location for cruising to the Elizabeth Islands and Martha’s Vineyard. … [Read more...]
How to Buy a Boat: Part I
You know the saying: The two best days for a boat owner are the day he buys it and the day he sells it. Well I bought a boat a few years ago and it was the best day. So I thought I'd share with you the process I went through to get there and hopefully help you in your own search for a boat. The first thing you need to do is decide that you want a boat. I grew up in Mattapoisett, MA which is a small town on the water near Cape Cod. To know where Mattapoisett is imagine looking down on Cape Cod from the air—Mattapoisett is the armpit. It's a real pretty town right on Buzzard’s … [Read more...]
The Crushing Cost of Retirement Healthcare
Have you added the cost of healthcare to your retirement planning? Fidelity has estimated that a 65-year old couple retiring in 2014 will need $220,000 to cover their healthcare expenses through retirement. It's no surprise if you've paid attention to the fast increasing costs of medical care. Since 1997, costs for nursing homes have nearly doubled. And costs of hospital services are on their way to tripling. You need to start planning now to cover any extra medical expenses during retirement. You might even change your retirement timeline. Fidelity estimates that just … [Read more...]
Moneyball is Back
One of the great books on investing is not about investing in stocks. It’s about investing in baseball players. The now well-known strategy discussed in Michael Lewis’ Moneyball tells how A’s GM Billy Beane created an edge by using statistics overlooked by other managers. The league has since caught up to Beane but there may be a new way to find some value. The WSJ’s CIO Journal reports: New technology being tested by Major League Baseball this year could provide Oakland Athletics general manager Billy Beane with new ways of evaluating players. The new technology relies on clusters of high … [Read more...]
Your Personal Financial Security Part I
Your personal financial security may not be as strong as it should be. You may be more vulnerable than you think. I called a client yesterday to review his portfolio and his wife quickly said he’d have to call me back because the police were at the house. He was filing a report because his debit card had been compromised. It turns out that over the weekend a waiter had held the card longer than normal (obvious after the fact) and had used the card numbers to make purchases online. Thankfully their bank was able to notify them and quickly canceled the card. I’m sure many of you have been in a … [Read more...]