Your Survival Guy uses a combination of firewood and propane to heat his New Hampshire log cabin. Prices for both are way up, as I told you about firewood here, and as you can see below, propane which has jumped compared to last winter. Energy prices are being pushed up by incessant regulation and restrictions on the energy industry by European and American politicians. Their actions are not lowering overall worldwide emissions, but instead just relocating them, and the jobs and GDP that go with them, to China. Holman W. Jenkins writes in The Wall Street Journal: Hard to believe, but … [Read more...]
You Invest, They Win
The founder of the largest hedge fund in the universe, Ray Dalio, tweeted this from Burning Man:
Just back from Burning Man. Reminds me of Woodstock with better art (installations) and less good music. What a great vibe and what amazing creativity!
Photo is with my pal and coworker Jeff Taylor at his great music camp Root Society. If you go next year, 1-5am is best.
Are these the guys you want running your money? You invest, they win. But hey, it’s not about the money. It’s about saving the planet man.
Because if it’s about the money (Dalio has a personal net worth of $19 billion) then this hedge fund lost to a boring Vanguard fund that uses a conventional mix of 60% stocks and 40% bonds.
The article doesn’t come out and name the fund, but perhaps you, as a long-time reader of our websites, know the name: Vanguard Wellington.
You might also know what Vanguard founder, the late, great, Jack Bogle, meant when he said: “The grim irony of investing is that we investors as a group not only don’t get what we pay for, we get precisely what we don’t pay for.”
The captains of the investing universe are living their “best life” at whose expense?
Yours, of course. You invest, they win. Read more below.
WARNING: Invest at Your Own Risk—How to Lose $2 Billion in 10-Years
“How to Lose $2 Billion in 10 Years: Unpaid Bills Pile Up for Former Hedge-Fund Star: Philip Falcone is in a decadelong battle with the many people he owes money. They include ex-employees, a law firm and limo companies,” explains Rachel Louise Ensign in The Wall Street Journal. You see up close how quickly things unravel and shockingly, this guy was trusted to manage investors’ money. Ensign writes: Mr. Falcone became a hedge-fund billionaire betting on the subprime mortgage crisis. Then investors pulled money from his firm, Harbinger Capital Partners LLC, after a stretch of spotty … [Read more...]
BlackRock Has Two Sets of Rules for China and America
You aren't dreaming. When it seems like BlackRock is pushing a woke "green" message here in America, but then investing in the world's worst environmental miscreant country, China, you're right. That's exactly what's happening. You may remember that time I was forced to agree with George Soros. While BlackRock sells investors its ESG funds with the promise of helping the planet, it's also investing heavily in China with no regard to the environment. Jon Michael Raasch reports at Fox News: A consumer watchdog criticized the largest asset manager in the world, BlackRock, for "going woke" in the … [Read more...]
“Five Decades Later Writing to You from Old Town, Key West”-Dick Young
Originally posted on November 2, 2020. “Well, writing to you now, five decades later, from our outside kitchen/living space in the heart of Old Town, Key West, I can’t help but think how much water has gone under the bridge through the many decades,” wrote Dick Young to you in the June 2017 issue of Richard C. Young’s Intelligence Report. “But if you have been with me over the years, you are keenly aware that it is indeed the combination of dividends, compound interest, perspective and patience that frames the message I deliver to you month after month. I do not change course. You can count … [Read more...]
ALGORITHM APOCALYPSE: Zillow’s Robo-Real Estate Meltdown
You have heard that Zillow is desperately trying to offload the inventory of homes it built up throughout the pandemic buying spree. It turns out, Zillow's plan to dominate the real estate market with data-driven algorithmic buying and selling was "too risky, too volatile," and "too narrow." Those aren't adjectives investors want describing the operations of the businesses they own. With more detail on what happened at Zillow, Will Parker and Konrad Putzier report at The Wall Street Journal: When executives at Zillow Group Inc. Z -4.01% pored over the company’s earnings in the spring, they … [Read more...]
DECEMBER RAGE Gauge: How Will You Protect Your Assets?
OK, my December RAGE Gauge is in, and risk continues to run high. Before we get into the reading, let’s go over a few items that are on my mind. The days of drawing down 4% of your portfolio per year have sailed on, especially while interest rates are nailed to the floor. Instead, a more reasonable draw today is in the 3% range, and even that is up for debate. Try to keep your draw rate as low as possible now, so you’re not forced to reduce it later because of a market correction. Consider where we are in the current environment with stocks. It’s a risky time for retirees and … [Read more...]
Guess What This Clinton Operative Allegedly Did to Investors
You know Democrats want to take your money and use it to fund their priorities, but one Democrat may have done that on a more personal level. Longtime Clinton operative, Steve Bachar has been charged with felony theft and securities fraud for allegedly mishandling millions of dollars of investor money. Washington Free Beacon reports: Authorities in Denver have ordered the arrest of Steve Bachar, a longtime Clinton operative and "socially responsible" investor who has been charged with felony theft and securities fraud. The former co-chair of the Clinton Global Initiative is also under … [Read more...]
ZILLOW EXPOSED: You Invest, They Win But Not Always…
"Too risky, too volatile, too narrow..." Is that how you want your investment prospect described? That's what Zillow has called its own home-buying scheme, driven by algorithms. You know that Zillow is looking to flip nearly 7,000 homes it has purchased to exit a business that it probably never should have been in. Laura Forman reports for The Wall Street Journal: Sometimes a ruler gets too ambitious and has to fall on his own sword. So it goes for online real-estate king Zillow ZG -18.12% which, in conjunction with its earnings announcement Tuesday, said it was quitting the automated … [Read more...]
Joe Biden is Weaponizing Your 401(k) Against You
Tired of mandates and government overreach? Want to get away? Well, here’s some news to ruin your 401(k). The Biden administration is pushing its radical agenda through retirement account regulation. In this case, it’s a proposed Labor Department rule that was not heavily reported—shocker. The change is to the Erisa Act, which governs your 401(k), and forces plan sponsors (your company or retirement plan provider) to offer funds focused on ESG—environmental, social, and governance. The Wall Street Journal editors explain the rule here: Asset managers like BlackRock are pushing to create ESG … [Read more...]
BLACKROCK’S BILLIONS: Guess Where Those ESG Fees Are Going?
Investors in funds purporting to buy companies focused on "environmental, social, and governance," (ESG) issues, are paying much higher fees than those buying market index funds. The ESG funds are funnels for the follies of CEOs with big EGOs, who want to mold the world in their image using investors' money to give them power. Now, mega-ESG pusher BlackRock, has reported a 23% profit increase for the quarter, ahead of anyone's expectations. You know what powered those profits? Fees on actively managed funds, like ESG. Dawn Lim reports for The Wall Street … [Read more...]
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