Friends, how are we different? I’ll tell you. When you open a brokerage account at Fidelity, the world is your oyster. The account is in your name. When you add our discretionary authority to your account, you’re invested in individual stocks, among other areas. It’s like owning a perpetually curated Monster Master List from Richard C. Young’s Intelligence Report. You also might be invested in a ladder of individual bonds with set maturities. It’s a private spa, if you will. Not a mutual fund or ETF. Not a public pool full of spitters and splashers flailing around, buying and selling, like … [Read more...]
Archives for April 2023
Toyota Bets on Practical Electric Vehicles
Toyota will roll out the Prius Prime to dealers in May. The Prius Prime is a plug-in hybrid gas-electric vehicle. While hybrids are known for combining gas engines and electric motors, the Prius Prime will operate primarily on battery power with the gasoline engine serving as a backup. Toyota is branding it a practical electric vehicle. Toyota, Ford Motor Co. and Hyundai Motor Co. are among global brands rolling out new plug-in hybrid gas-electric cars. While most hybrids on the road today combine gas engines with electric motors to save fuel, plug-in hybrids can drive primarily on … [Read more...]
Only You Can Make This Happen: “That Was Fun”
Happy Friday. Your Survival Guy was talking with a client yesterday. He was at the helm of his sailboat. They were making their way home for the summer. I could tell it was bittersweet. They were already missing the new friends they had made over the winter. Having recently completed the crossing back to Florida, they were looking forward to some of their favorite stops along the way. It was a calm morning. It reminded me of the hours my family spent sailing Buzzards Bay and Vineyard Sound in the summer, rafting up with family friends. That was fun. One of the great parts about sailing … [Read more...]
Regional Banks Steadying Themselves after SVB Collapse
Regional banks are attempting to steady themselves as the volatility in the wake of the collapse of Silicon Valley Bank subsides. Stephen Gandel, Joshua Franklin, and Brooke Masters report for the Financial Times: Regional banks across the US have largely stopped the massive outflow of deposits that threatened their stability after the collapse of Silicon Valley Bank but their profit margins are shrinking unexpectedly quickly. Many of the more than a dozen midsized US banks that reported earnings this week warned the turmoil following SVB’s collapse had heightened competition for deposits, … [Read more...]
You’re Ready to “Make It a Good Month”
You miss Richard C. Young’s Intelligence Report, especially the Monster Master List and the monthly introductions you couldn’t wait to read. I know this because you tell me. Here’s the intro from Dick’s last letter: My Last Issue Last Call! After nearly four decades of meeting monthly publishing deadlines, it’s time for me to shift gears. I am stepping away from writing IR to spend full time researching global investing strategies, compounding, and dividend-paying stocks on behalf of our management clients at Richard C. Young & Co., Ltd. Eagle Financial Publications will become the … [Read more...]
Fidelity Foul Ball: Annuities Don’t Belong in a 401(k)
Your Survival Guy’s a big fan of Fidelity Investments, as you know from here, here, and here just to point out a few reasons why. But Fidelity is also a 401(k) powerhouse. I know this because Your Survival Guy worked in Fidelity’s 401(k) division in the mid-90s. So I’m not thrilled to write this, but it’s a big-time foul ball. Your Survival Guy’s not a fan of annuities, especially in a 401(k) or IRA. It’s a tax-deferred vehicle already. It doesn’t belong in a tax-deferred account. The minute you can get out of your 401(k) and self-direct, do it. This is yet another product to charge higher … [Read more...]
Is San Fransisco Becoming the New Detroit?
Is San Francisco headed the way of Detroit? Will it become a hollowed former boomtown? In the Financial Times, George Hammond and Tabby Kinder analyze the current state of the city, writing: At rush hour on a recent morning in downtown San Francisco, passengers exiting the Civic Centre station had to step over a discarded hypodermic needle, an all too common sight in a city where open air drug use has become unremarkable. Around the station, usage of which has plunged two-thirds since 2019, the most obvious presence was not commuters heading into work but rather groups of homeless people … [Read more...]
I Meant to Tell You My Recent “Survival Guy” Story
You know from here, here, here, and here that bad stuff happens. More times than I care to admit, I'm involved. Dear reader, is there anything more enjoyable? I get it. But once the feeling of "thankful it wasn't me" passes, it gets darn serious. "What," you may ask yourself, "if that happens to me?" The other weekend Your Survival Guy arrived at his cabin in New Hampshire with no heat. Hours earlier, glancing at my phone to check the indoor temp I turned up on the app (life's a little too easy at times), I realized it hadn't budged and was falling. Sure enough, the furnace was out. Good … [Read more...]
China Prepares to Lose Major Position to Rival
China has been the world's most populous country for decades, but soon will no longer be the case. The position of the most populous nation will belong to India by the end of this year, according to United Nations data. John Reed, Elanor Olcott, and Joe Leahy report in the Financial Times: India is due to overtake China as the world’s most populous country by mid-year, the UN said, marking a historic shift for the two Asian rivals. According to the UN Population Fund’s World Population Dashboard, released on Wednesday, India’s growing population is to surpass 1.428bn by mid 2023, just … [Read more...]
“I’m Having Major Surgery Tomorrow,” He Said
Life comes at you fast. One minute you’re living your retirement life. The next, you need major surgery. “I’m having major surgery tomorrow,” a client said to me yesterday. “Take care of things for me,” he said. “I will,” I said. We’ve been working together for over 20 years. He’s been trusting Richard C. Young for many more. He’s financially fit because he invested in himself at an early age and was smart with his savings. He realized a long time ago that saving money and investing are two different things. He needed help with the second one. I know his family because he tells me about … [Read more...]