You’ll recall it wasn’t too long ago that investing legends Warren Buffett, Jack Bogle, and my father in law Dick Young were calling for a prolonged period of reduced returns. Not only for the stock market but for bonds, as Dick Young’s North Star was scraping the bottom of the charts as if it had fallen out of the sky. At the time, Dick Young wasn’t predicting a pandemic like the coronavirus, he was simply studying what was in front of him just like he does today, and concluding that it looked pretty darn ugly. You see, when the risk-free rate of return costs you money (after … [Read more...]
Coronavirus: The Safety of America’s Food Supply Chain
Coronavirus has sparked what may be a new phenomenon in history, global panic-buying at grocery stores. Panic buying is nothing new, of course, but seeing it happen in so many countries at once is certainly rare, if not new. The world's supply chains are more intertwined than they have ever been. With a shock to the global system, many Americans might be wondering if their food supplies will be reliable. Representatives of America's food industries are confident in the supply chain today. On the East Coast, The New York Times reports: “There is food being produced. There is food in … [Read more...]
Protect Yourself from Coronavirus Scams
Your personal financial security is a top priority for Your Survival Guy. Every time a major disaster or emergency occurs, financial fraudsters kick into high gear. They attempt to take advantage of the panic and confusion by conning you out of your hard-earned savings. The COVID-19 coronavirus outbreak is no different. Here's some information you should keep in mind as the days go by. From the Federal Trade Commission (FTC): The FTC and FDA have jointly issued warning letters to seven sellers of unapproved and misbranded products, claiming they can treat or prevent the Coronavirus. The … [Read more...]
The First Big Test for Crypto-Currency Isn’t Going Well
In the face of their first big test since popularization, crypto-currencies are not faring well. Jemima Kelly reports of bitcoin for FT's Alphaville (abridged): For a brief moment there, it really did feel like the good old days. Bitcoin shot up from about $5,200 to about $5,900 just after the Fed’s announcement. This was the beginning of something special, wasn’t it?! Alas, no. This bouncing cat, it turned out, was lifeless. For those fleeting moments after the Fed announcement bitcoin could thrive; could be free; could resume on its slow but unstoppable trajectory toward the moon. But … [Read more...]
Coronavirus Infects Stock Market: Part XIV
Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, told CBS News' Norah O'Donnell that life may not get back to normal for up to two months. Two months is a long time. Here's a bit of the back and forth between O'Donnell and Fauci: O'DONNELL: We know the symptoms of COVID-19 are dry cough, fever and shortness of breath. If someone has those symptoms, should they go to the emergency room? FAUCI: No, thank you for the question. They should stay home, call the health care provider, call their physician or even call the emergency room and say, these … [Read more...]
It’s Possible Californians Have Had Enough of Taxes and Debt
For over a century, if you were looking for a better America, California was where you headed. From the Gold Rush days of 1849, to the post-World War II boom of California's suburban crowd, the state's beauty, resources, climate, and wildness attracted droves of Americans. Now though, Americans are fleeing California. The reason for their departure is that California's government makes living hard in the Golden State. Mismanagement in the state has led to increased risk of wildfire, the erosion of workers' rights, dystopian streets full of homeless Americans, frequent power outages, and … [Read more...]
Coronavirus Infects Stock Market: Part XIII
"De-densify." That's the word Harvard is using to describe its efforts to move people out of dorms and send them home. CNN's Carma Hassan and Brian Ries report: Harvard University is moving to virtual classes because of the novel coronavirus outbreak and the university is asking students to move out of their dorms in five days, according to university spokeswoman Rachael Dane. "Harvard College students have been asked to move out of their Houses and First-Year Dorms by Sunday, March 15, in an effort to de-densify our community," Dane told CNN in an email. All academic courses will … [Read more...]
Coronavirus Infects Stock Market: XII
If you’re a client of Richard C. Young & Co., then you know how much we love Baby’s Coffee—Southernmost Coffee Roasters in America. Clients of mine sent this pic yesterday telling me how much they enjoyed a recent trip to Key West. They look happy, don’t they? You know what’s worth noting is we didn’t spend a ton of time talking about the market today (Monday), even with it being shut down after opening down more than 7%. We talked about it, no doubt, but we had more fun talking about stone crab claws and their beautiful Airstream. Talk about timeless. You and I know the future is … [Read more...]
Coronavirus Infects Stock Market: Part XI
One of the challenges of having high school kids in different schools is scheduling—they’re not on the same one—which is how Owen and I ended up skiing Friday at Attitash, NH, while Izzy was in school. My parents spend much of their winter in New Hampshire skiing (it’s early Saturday morning as I’m writing to you), and we had a great day together yesterday on the slopes. Part of the reason Owen and I had to get up to our cabin was to bring our gear back home for our trip out west later this month. If you’re a ski family, you tend to gather a lot of ski gear. As I rummaged through my … [Read more...]
Coronavirus Infects Stock Market: Part X
When I was a junior in high school I spent a week as a crewmember on a schooner. One of my duties was taking a shift each night on watch. On calm nights it was pretty peaceful. But less so when the wind was up and the white caps lashed against the hull. On nights likes these, you had a more purposeful walk to the bow to check the anchor line. Our captain made the night watch a priority no matter the weather. I learned a lot from his seriousness and expertise. If you were to listen to the so-called experts, you would have sold your bonds a long, long time ago. Don’t listen to them. … [Read more...]
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