Happy Friday. I want you to go to the most controversial restaurant in all of Paris. But first, a bit of business. As you know, Your Survival Guy isn’t big on selling positions. My default position is to hold forever.
With that said, it doesn’t mean I operate with my head in the sand, far from it. There are times when selling for tax purposes makes sense—to realize a loss and get back into something similar. That’s a move that could make sense for you if you hold Vanguard GNMA at a loss in a taxable account. If you hold it in an IRA, then stick it out. If you want to talk, let me know.
How about a balanced portfolio? When so called experts say a balanced portfolio doesn’t work anymore, they’re doing investors a real disservice. Bonds are far from dead. Don’t let perfect timing get in the way of earning some attractive yields.
My favorite meal in Paris? Glad you asked. L’Ami Louis. It’s one of the hardest reservations in town. But if you get in, it’s like you’ve been transported back in time—you’re part of the club. Just don’t forget you’re not necessarily in charge. And don’t be put off if you’re greeted with a stern yell across the small dining room, “Reservation?” as if you’ve stumbled in not knowing where you are.
And when it’s time to place your order, don’t be put off if Louis puts two hands on the table and says: “I’m ready.” Be ready. Or ask for more time. But don’t be quiet about it.
What to order? Anything. But the endless basket of overflowing toasted bread is decided for you. It’s up to you whether to dip it into your boiling escargot garlic and butter, smother it with foie gras, or simply smear it with butter.
The chicken is presented tableside and quickly whisked away to the kitchen for serving/preparation. The salad is simple and delicious. The garlic potatoes are out of this world, and the wine list is as thick as a family picture album. Don’t be afraid to ask your new friend (I hope) for help navigating that monster. You’re part of the club. Bon Appetit!
An email from you reads: “We are currently sailing down the coast of NC and will cross over into SC on the ICW [Intracoastal Waterway] later today. Weather is great, and making good progress heading south for the winter.”
Action Line: Nice! Make it a good weekend.
E.J. Smith - Your Survival Guy
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