The Tax Foundation's great research shows businesses the best places in the country for setting up shop. A state with a failing grade should be a warning to local politicians that they're doing something wrong when it comes to stimulating the job creators and entrepreneurs. First take a look at The Tax Foundation's 2015 State Business Tax Climate map. Is your state failing or succeeding in creating a welcoming climate for business? Now spend some time leafing through The Tax Foundation's Location Matters report. You'll see differences in the treatment of new and mature businesses, … [Read more...]
Zac Brown Band: Castaway
Castaway is my new favorite boat song from the Zac Brown Band’s new album Jekyll + Hyde. I love the five part harmony at 2:15 minutes led by John Hopkins and drummer Chris Fryar bringing it all home. Makes me want to go to out on the boat (Read How to Buy a Boat part I, II, III, IV, V, and VI) and become a Castaway. … [Read more...]
Video: The Retirement Gamble
You, no doubt, have questions about your retirement, especially with the recent market declines. I was speaking with a client yesterday and he told me that over the weekend he watched the documentary The Retirement Gamble. He said his wife recorded it and asked him if he wanted to watch it with her. And later that day, he told me, they had one of the most productive discussions about their finances, how he planned to sell the business, and basically a five year plan. I want you to watch this video too and, like my clients, share it with someone you love. Saving for retirement isn't exactly fun … [Read more...]
How to Buy a Boat Part VI
A lot of great stuff happens when you’re on the water. It’s usually the things that you don’t plan which end up being the best memories. Like the time when I was shark fishing as a kid with my cousins, my uncle Ron, and my dad. My dad had a brand new pole. At one point he went down below to get some sandwiches and Uncle Ron began shouting, “Randy you’ve got a fish on your line!” Within seconds the pole was overboard. After lunch, Uncle Ron hooked onto to a sand shark and yelled, “Randy I’ve got something.” As it came into sight my dad said, “Ron! He’s got my pole!” The fish got away. But we … [Read more...]
How to Buy a Boat Part V
“If you’re going to buy a boat that is mass produced, make sure you don’t buy the one that was put together on a Friday afternoon,” Skip Helme, Owner Brewer Street Boatworks. Well Skip and I made our offer, it was accepted and we needed to get it surveyed. Skip said he knew just the guy: Steve Maddock. Turns out our boat was built on a Friday afternoon. Steve Maddock is one of those guys that’s so good at what he does you’re just happy he’s on your side. He’s not afraid to ruffle feathers and tell people what he thinks of the boat they’re trying to sell. So, Skip and I planned … [Read more...]
How to Buy a Boat Part IV
Money can’t buy you happiness, but it can buy you a boat. So with that in mind, Skip and I planned out our road (and sea) trip to Long Island. We chose Long Island because there were about five to ten boats of the specific make and model we were targeting for sale at various boatyards and dealerships there. Also, Skip summered on Shelter Island, NY and knew the area well. After looking at the first couple of boats, Skip suggested we come up with a back-of-the napkin scoring sheet. We graded each boat based on overall condition, hours on the engines, and an assortment of other factors. For … [Read more...]
Richard Russell on the Bull Market
Richard Russell continues to get the job done at age 91. Here he talks about Monday's market gains. Everything that I read regarding the US economy is bullish. The only newspaper that dares to publish bearish comments on the US economy is Investor’s Business Daily. The mass of comments about the US economy is so lopsided, it makes one wonder if supply and demand has given way to Fed manipulation. I find myself wondering whether the stock market still retains any forecasting ability. But let’s face it: the stock market is all that we have to go on. As I write, one hour before the close, … [Read more...]
Happy 91st Birthday Richard Russell
Richard Russell has been publishing Dow Theory Letters since 1958 and writes at dowtheoryletters.com. He turned 91 in July and writes about the markets and life on a daily basis. Here is my all-time favorite piece. Happy 91st Birthday Mr. Russell. RULE 3: RICH MAN, POOR MAN: In the investment world the wealthy investor has one major advantage over the little guy, the stock market amateur and the neophyte trader. The advantage that the wealthy investor enjoys is that HE DOESN'T NEED THE MARKETS. I can't begin to tell you what a difference that makes, both in one's mental attitude and in the … [Read more...]
My Sig Sauer 226
One takeaway from my recent visit with my friends at White Mountain Firearms in North Conway, New Hampshire is that guns and ammo aren't getting any cheaper. My favored Sig Sauer 226 MK 25 chambered in 9mm is about 25 percent more expensive than it was five years ago. But I've invested a lot of time and energy becoming proficient in this particular model, so I purchased another. And I view my recent purchase as a collector, because it adds value to my situation. Often times the best investments are made when making a profit is the last thing on your in mind. … [Read more...]
Wisdom from The Intelligent Investor
Wisdom from Benjamin Graham’s The Intelligent Investor, first published in 1949: The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator’s primary interest lies in anticipating and profiting from market fluctuations. The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should … [Read more...]
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