EJ- When I read your piece “You Want Maine Lobster” it brought back memories of my days of frequent trips to the Boston area. My biggest customer at the time (1971-1978 or so) was Air Force Systems Command at Hanscom AFB. I was there probably two times a month for several years, sometimes staying over a weekend if we were negotiating a contract or other lengthy meetings. We almost always had one dinner at a roadside restaurant along a dark rural stretch of some road, possibly 2A. I don't remember the name of the place, but I always got a chicken lobster, fries and a beer or two. I think … [Read more...]
“E.J./Survival Guy what a RELIEF to be out of the City”
You’re telling me you want peace of mind and security for your family and that you’re sick and tired of the unrest in your city. You’re also telling me you beat inertia and packed your bags. Don’t despair over all the boxes. From a client: “E.J./Survival Guy,” We finally completed our move this last week and our new address is: (not in the city). We are still waiting for our land line phone to be hooked up so you can reach us on the cell. We want to send the proceeds of our sale to our Fidelity account for you to manage. What a RELIEF to be out of the city. Talk to you soon.” Your … [Read more...]
Investing in the Fog
You’re telling me about the fortunes to be made in bitcoin and blockchain and I’m telling you the bloom is off the rose. If you’re reading about it, chances are the fortunes have been made or they will be when the buyer pockets your money. Remember, as Andy Kessler writes, investing can be like navigating in the fog. If you can see the bridge, you’re too late. … [Read more...]
Fidelity: How Emergency Documents Help Protect You
You can get your house in order with this helpful piece from Fidelity Investments: As the U.S. continues struggling with how to stop the spread of COVID-19, it’s critical to consider whether you have the right emergency documents. No matter if you live in a coronavirus hotspot or don’t know anyone with COVID-19, there’s never been a better time to understand how different legal documents can protect you. Here are five types of emergency documents that will help you and your family make essential healthcare decisions and manage your finances during an unexpected illness or accident. 1. … [Read more...]
Yes, You’ve Met Ronald Read in Richard C. Young’s Intelligence Report
You may be familiar with Ronald Read’s story. It’s a story worth telling over and over and over again to anyone you know. My father in law Dick Young wrote in May 2015: Hard to even comprehend, but this great story, courtesy the WSJ‘s Anna Prior, recounts how Ronald Read accumulated an estate valued at almost $8 million. Mr. Read, who passed away at the age of 92, made a modest living pumping gas for many years at a Gulf gas station in Brattleboro, Vermont. A Five-Inch Stack of Stock Certificates How did Ronald Read manage to become a multi-millionaire? Mr. Read invested in dividend-paying … [Read more...]
Your Retirement Life: “You Want Maine Lobster”
You’re telling me you want Maine Lobster. Lucky you, you’ve come to the right place. Allow me to set your table. Before we dig in to that sweet, juicy, mouth-watering bite of warm buttered lobster, a word to the wise: Bigger isn’t necessarily better. It just means bigger, and oftentimes, bitter. The sweet spot is 1 1/2 lbs, give or take, and if you like the delectable red roe (coral), a female is for you. Call our local seafood market before 5 pm, and they’ll steam ‘em for you or call our friends at the Trenton Bridge Lobster Pound, and they’ll ship ‘em live to your door. Now, in terms of … [Read more...]
The Wealthy Escaped the City: Politicians Beg them to Come Back and Pay Taxes
You might not believe how lopsided New York City's tax system is, but here you can read it in the words of the governor of New York State, "A single per cent of New York’s population pays half of the state’s taxes and they’re the most mobile people on the globe." Gov. Andrew Cuomo is begging wealthy New York City residents to return to their city homes so they can be taxed by the city's income tax surcharge. To fight the pending deficit the city is facing, many city politicians want to tax those who remain even more, but Cuomo knows this is a bad idea. The Daily Mail reports: It is … [Read more...]
Pension Funds in Blue States are Playing You
If you are relying on a pension fund in a blue state, you're being played. Blue states that have mismanaged their fiduciary obligations are playing the country, waiting for the finish line, aka a federal bailout. The expected return targets of most of these pensions are 7%, on balanced portfolios. You can see from the chart of 10-year Treasuries below that the current state of fixed income is not supportive of those expectations. So pension managers must be relying on the stock market, which has recently endured its third major collapse in less than twenty years. The return expectations … [Read more...]
Gold Prices are Soaring: Here’s Why
Owning gold is like owning some insurance in your investment portfolio. When times are uncertain, its price may go up while others are going down. It has always made a great deal of sense to own gold, but now more than ever its price is rising. Joe Wallace explains why gold's price is soaring in The Wall Street Journal: The main reason is this year’s precipitous drop in yields on U.S. Treasurys to levels below the expected pace of inflation. Unlike bonds or bank deposits, gold doesn’t pay any income. As a result, owning gold means missing out on yields from other assets when interest … [Read more...]
Americans Spark Lumber Shortage in Escape from the City
You have read about the lumber shortages facing America as economic activity heats up. Americans escaping the city have initiated a housing boom that is creating lumber shortages. The Wall Street Journal reports on one woodworker here in Newport, RI that ordered four times the lumber he normally would, and still didn't have enough. The Journal explains: When woodworker Michael Hendershot stocked up with lumber in March ahead of building season, he feared the coronavirus pandemic would disrupt the supply of wood more than demand for fences, decks and cabinets. He multiplied his usual order by … [Read more...]
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