Personally, I have had only one minor administrative error recently with Vanguard where they incorrectly deposited SEP-IRA money into my traditional IRA. I called them to explain their error, they pulled up the letter of instruction, recognized their mistake and made the correction. Problem solved. With record inflows of more than $1 billion per day in 2017, or $369.3 billion, some investors are wondering if Vanguard’s success is a problem. I don’t think that’s the case. In a transaction oriented business there are always going to be mistakes. They can be corrected. When I worked at … [Read more...]
Archives for April 2018
Do Google and Facebook Have Bigger Problems than Privacy?
While battles rage in the U.S. and Europe over to what extent the big internet companies should be allowed to collect people's personal information and sell that information to advertisers and other end users, the companies may actually have a bigger problem. It turns out, the internet is a pretty boring place. Generation Z, i.e. the young people born between 1998 and 2010 (post-Millennials), have fallen out of love with the internet. The youngsters are bored like all kids have been in their day, but now they are "phone bored," as Taylor Lorenz calls it in The Daily Beast. Imagine if … [Read more...]
How Many “Retirees” Will Keep Working?: Part IV
When Laura Sexton retired as a senior chief hospital corpsman in the US Navy, she applied her Navy skills to her new job: Lead ski-run groomer and snowcat operator at Deer Valley Ski Resort in Park City. According to Sexton,” writes Nancy L. Anderson in Forbes “the Navy uses a three-step approach to learning anything that could serve us all well: See it, Do it, Teach someone else. First, you physically observe how to complete a task as it is explained (see). Second, you perform the task (do). Then, show someone else how to do it (teach).” The article continues: Many people want to (or need … [Read more...]
Can Musk Pull off a Miracle?
Tesla CEO Elon Musk has made a lot of promises. With the first quarter ending and an earnings report now due, this is when the rubber meets the road. Can Musk deliver on the plans he's sold his faithful shareholders? Or will the report simply detail his failure to get the job done? Dana Hull reports at Bloomberg: Tesla’s Fremont, California, delivery hub was packed with people Saturday evening as the last hours of the quarter drew to a close. Red couches and tall white tables were set up outside, a DJ played music and a truck selling Vietnamese food was on hand. Behind the scenes, a company … [Read more...]
China Hits American Farmers with Tariffs
In response to the Trump administration's tariffs on steel and aluminum imports, China has initiated tariffs against American against American food products. China placed tariffs of up to 25% on 128 kinds of products from the U.S. The FT's Tom Hancock reports: The highest additional tariffs of 25 per cent will be imposed on top of existing duties on imports of US scrap aluminium and various kinds of frozen pork, the statement said. An additional 15 per cent tariff will apply to dozens of US foods including fresh and dried fruits such as cherries, nuts such as almonds and pistachios, and wine … [Read more...]
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