It’s hard to beat the striped bass fishing off Block Island. In this video you see the voyage from Newport, RI to the Block for some late Summer striped bass fishing. Don Smith explains more about fishing around Block Island at On The Water: Block Island earned its reputation as a legendary striper-fishing destination many years ago. These days, her waters draw numerous charter boats and recreational fishermen, who troll, jig and drift for stripers. At the height of the season, it’s not unusual to see a hundred boats working the waters near Southwest Ledge at one time. Once the sun … [Read more...]
How Bad Bosses Get it Wrong, and How to Escape Them
Robert Cross, a professor of leadership at my alma mater, Babson College was recently quoted in The Wall Street Journal with some great advice on escaping "collaborative overload," in other words, too many shared projects at work. The projects demand meetings, conference calls and endless emails, but leave little time for actually getting work done. Lauren Weber and Lynn Cook report on Cross's view of the problem here: People with deeply rooted identities as high-performing workers are especially susceptible to collaborative overload, says Rob Cross, a professor of leadership at Babson … [Read more...]
Cato’s Freedom in the 50 States Ranking
The Cato Institute has released its much anticipated Freedom in the 50 States ranking. Scoring best of all fifty states was Florida. The researchers who put together the scores highlighted Florida's lack of an individual income tax and the Sunshine State's economic freedom as its top draws. Here's what they wrote about Florida: Lacking an individual income tax and featuring a hot climate, Florida has long enjoyed substantial migration of well-off retirees. But as we’ve noted in the past, the state attracts more than seniors, as others vote with their feet for good weather and the increased … [Read more...]
Escape NYC, Go to Margaritaville
One thing I’ll never forget about our trip to NYC this year was the credit card bill a few weeks later. NYC ain’t cheap. Don’t get me wrong, it was an awesome trip, but I’m hardly surprised by this article on plummeting luxury apartment sales. "When the luxury market slowdown began in 2016, brokers blamed it on political uncertainty.” reports the WSJ. "More recently they said buyers were hesitating because of federal tax changes that may increase the cost of home ownership and reduce the deductibility of New York’s relatively high tax burdens." Yes I'm disappointed to see that Jimmy … [Read more...]
Has the Time Come for Defensive Stocks to Drive the Market?
"Valuation concerns have already crept into the market, some investors said, as defensive stocks that tend to post lower growth than companies like Amazon and Facebook have outperformed," reports the WSJ. "The top five performing S&P 500 sectors the past three months are all defensive, Bank of America Merrill Lynch said in a recent note, including consumer staples, utilities and health care." Defensive stocks tend to be the ones paying dividends, and dividends are the backbone supporting our Retirement Compounders®. Originally posted on Yoursurvivalguy.com. … [Read more...]
Prophetic Statements to be Studied: Investors be Warned
“If ye are prepared ye shall not fear,” is from the Doctrine and Covenants of the Church of Jesus Christ of Latter-day Saints and is quoted in Prophetic Statements on Food Storage for Latter-day Saints, by Neil H. Leash. In the forward to Leash’s book, Duane S. Crowther, author of Inspired Prophetic Warnings, advises to avoid fear and anxiety by making sound preparations, and to approach the subject with an “urgent calm” rather than anxiety and alarm. Leash and Crowther aren’t simply talking about food storage. They’re talking about preserving your well-being beyond food, including money … [Read more...]
The Good News Continues for Dividend-Centric Investors
There’s a certain discipline required of the stock investor whom adheres to a dividend-centric investment strategy. It’s not for the FOMO (fear of missing out) crowd that talks up their latest stock heroics at cocktail parties—a never in doubt but often wrong crowd if I’ve ever seen one. At the end of the day, it’s the dividend investor whom usually has the last laugh. Looks like a truckload of cash from the recent tax cut will be paid out in the form of dividends. Jon Sindreu writes in The Wall Street Journal: In a year of rising interest rates, resurgent stock volatility and creeping … [Read more...]
Can Crypto-Currencies Ever be Safe?
After hackers stole digital currency assets from South Korean currency exchange Coinrail recently, the question must be asked, can bitcoin and other crypto-currencies be safe? The problems don't seem to lie in the blockchain technology, but instead in the exchanges that provide servicing to crypto-currency users. This isn't the first time an exchange has been hacked, or even the second or third time. So users must take into account the idea that the place housing their crypto-currencies may not be altogether safe. Can you imagine a rash of bank robberies in your town, but without any FDIC … [Read more...]
Facebook: “A Giant Blood-Engorged Tick Hanging off Your Frontal Lobe”
“Designed to be addictive, Facebook feels like a giant blood-engorged tick hanging off your frontal lobe,” writes Matt Taibbi in Rolling Stone. You may recall, Taibbi coined Goldman Sachs as a “[G]reat vampire squid wrapped around the face of humanity.” In his piece on Facebook, where the median salary is $240,430, Taibbi makes a case for breaking-up the band which is more like a cult. What is it like to be on the inside of Facebook’s corporate walls? Former senior Facebook worker Antonio Garcia Martinez wrote the book, Chaos Monkeys, in a way that Michael Lewis did about his time … [Read more...]
You Need to Know that Changes are Coming to Your Savings Plan
Congress is actively seeking ways to encourage more small businesses to use retirement savings plans. That's a good thing for America's savers. But be wary that the bill may also encourage greater use of annuities, which I have warned readers about repeatedly (see here, here, and here for a sample). The bill will also encourage greater use of 401(k)s, which like annuities, can also come bearing hefty fees. For many savers too, borrowing against the money in their 401(k) account can be a tempting but risky option. Richard Rubin and Anne Tergesen report on the bill in The Wall Street … [Read more...]
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