The Fed ended seven-years of sitting on its hands by finally raising interest rates. Really? One will have to look pretty hard to actually see it. Here’s a thought, how about Janet Yellen testifies in front of a room of retirees at a Town Hall style meeting instead of in front of a room of bureaucrats in D.C. Does she not have a clue what her rock bottom interest rates are doing to retirees? … [Read more...]
The Big Short Movie
You may have heard Michael Lewis’ book The Big Short, about the real estate crash in 2008, is now a movie. Apparently you can skip it. “Longtime Will Ferrell collaborator, former ‘SNL’ head writer and director Adam McKay, whose work usually isn’t even on the smart end of the comedy spectrum, co-wrote and directed ‘The Big Short,’ an inept and frequently idiotic take on Michael Lewis’ deeply engaging book, and it will largely be remembered for three things: bad haircuts, overacting and Margot Robbie in a bubble bath. . . .” writes Kyle Smith in the New York Post. Here’s what I wrote about … [Read more...]
Vanguard GNMA: Slow and Steady
Slow and steady wins the race. … [Read more...]
Does Your State have Creeping Tax Brackets?
If your state isn't indexing its tax brackets to inflation, you could find yourself paying a higher rate even though you're not any higher up the income ladder. Research from the Tax Foundation explains your state's system. … [Read more...]
Your Best Bond vs Stock Portfolio Balance
In the November issue of Intelligence Report, Dick Young advised investors that his primary motivation is keeping them out of trouble. My focus, first and foremost, is on keeping you out of trouble. I do not write to needy investors—those who require the financial markets to make something happen to save their bacon—nor to novice investors or rank speculators. If you have been with me over the decades, you know that my primary concern is your comfort and security in your retirement years, whether today or in the future. In other words, my aim is to help you protect and preserve the capital … [Read more...]
The Rising Costs of Thanksgiving
Every year the Farm Bureau puts out a report on the price of Thanksgiving dinner. This year, no surprise, the price of Thanksgiving has increased again. From the Farm Bureau: WASHINGTON, D.C., November 19, 2015 — The American Farm Bureau Federation’s 30th annual informal price survey of classic items found on the Thanksgiving Day dinner table indicates the average cost of this year’s feast for 10 is $50.11, a 70-cent increase from last year’s average of $49.41. The big ticket item – a 16-pound turkey – came in at a total of $23.04 this year. That’s roughly $1.44 per pound, an … [Read more...]
Goodbye Connecticut
Over the weekend a client emailed me an article about Connecticut’s Borgeson Universal Co. It produces steering components and has operated in Torrington, Connecticut since 1914. It is leaving Connecticut for South Carolina because business is no longer doable or wanted in Connecticut. Here is the article: With the Litchfield hills and Connecticut in our rear-view mirror as we move our 101-year-old manufacturing company to South Carolina, we are nostalgic, excited, and disappointed. We love Torrington and Connecticut but not all the things the General Assembly and the governor have done to … [Read more...]
These are America’s Most Competitive States
The Tax Foundation has released its 2016 State Business Tax Climate Index. Here are the 10 best and the 10 worst states according to the index. The 10 best states in this year’s Index are: 1. Wyoming 2. South Dakota 3. Alaska 4. Florida 5. Nevada 6. Montana 7. New Hampshire 8. Indiana 9. Utah 10. Texas The 10 lowest ranked, or worst, states in this year’s Index are: 41. Maryland 42. Ohio 43. Wisconsin 44. Connecticut 45. Rhode Island 46. Vermont 47. Minnesota 48. California 49. New York 50. New Jersey Read the full report here: [gview … [Read more...]
Stock Market Beauty Contest: Part II
You know from Part I that this stock market is a beauty contest. Five companies account for two-thirds of the returns year-to-date for the S&P 500 Index. They are: Apple, Google, Microsoft, Facebook, and Amazon. It has been my experience that investors make the grave mistake of confusing index investing with diversification. Owning the S&P 500 does not mean you’re diversified. Owning the S&P 500 means you own a market-cap weighted index of stocks where the companies with the largest market-cap have the most influence over its direction. Like sheep heading to slaughter, … [Read more...]
Investing Lessons From my Father’s Father
Do you remember your first job? I forget what my father’s first job was, but I know he started working at a very young age scooping ice cream, pumping gas, and later selling Fuller Brushes. In addition to that, he was responsible for collecting rent from a number of his father’s rental properties in New Bedford, MA—where my dad was taught the most important lesson of all about money: compound interest. The rental properties, according to my dad, were not in the best neighborhoods and sometimes he was knocking on doors to collect late rent. My dad was instructed by his father to never knock … [Read more...]
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