Cryptocurrencies took a nasty plunge yesterday after Chinese authorities cracked down on their use. That institutional response, shortly after Elon Musk revealed that Tesla would no longer be using bitcoin in transactions, was a double whammy that took the wind out of cryptocurrencies across the board. Since the drop, crypto prices have recovered some of what they lost, but nowhere near all. The Wall Street Journal reports: The recent price fall has accelerated after three Chinese entities published a statement that financial institutions shouldn’t accept virtual currencies for payment or … [Read more...]
Your Survival Guy: Cryptos, Stocks, Bonds & YOU
Other than what someone's willing to pay you, where does a cryptocurrency's value come from? Because when it comes to sources of value, with dividends from stocks and interest from bonds, you know where you stand. With cryptos, you hope someone doesn’t jump the line. When a company pays you a dividend (or a bond pays you interest), it worries about meeting its obligations to you. It sees you, unlike the anonymity of cryptos, banging your tin cup on the boardroom table saying: “Show me the money.” When a company issues stock, it’s giving up ownership, and with a bond, it’s taking on debt. … [Read more...]
You’re Telling Your Survival Guy This and More…
You’re telling Your Survival Guy about your recent fly fishing float trip to Wyoming, where your guide said, “We don’t wear masks around here.” Yet another reason I love the big, red, Cowboy State of Wyoming. Contrast Wyoming with NYC, and you realize the importance of having some space to move around. The same client tells me he booked a summer house on the Cape months ago but said it was a challenge booking for the fall. Your Survival Guy’s take: Welcome to the extended summer vacation and the extended spending to follow. But will the tap be dry this time next year? You’re telling me about … [Read more...]
Time to Prepare: Big Time Summer Migration is On
Time to prepare. The summer migration is on, big time. The threat of gas shortages has everyone running on a full tank of 87 octane, preparing to cram two summers into one as if there’s a BOGO deal. Everyone’s going to the beach with loaded coolers and hot heads. Pay attention because nerves are frayed. You’re telling me traffic on I-95N is crazy, hotel prices are up, and if you don’t have a reservation, good luck finding a room. The help wanted signs are everywhere as anxious patrons (that’s being too kind) wait impatiently to be served. Is there any wonder workers are taking the summer … [Read more...]
Your Survival Guy’s Conversation with Gov. Scott Walker
You can imagine Your Survival Guy’s surprise when my cell phone rang while Becky and I were driving to dinner. Not recognizing the number, I picked up anyway. “Hi E.J., this is Scott Walker.” • You may recall it was Gov. Walker whose yeoman’s work broke the back of the unions and collective bargaining in Wisconsin. Now he’s the president of Young America’s Foundation whose mission is: “[E]nsuring that increasing numbers of young Americans understand and are inspired by the ideas of individual freedom, a strong national defense, free enterprise, and traditional values.” Gov. Walker and I … [Read more...]
Your Survival Guy: Kicked to the Street in Boston
Yesterday, a Wednesday in May, clients were in town. The Mooring restaurant in Newport, RI, was packed. I looked to see if there was a graduation. No, just a nice day. Imagine what 4th of July, the official start of summer in Newport, is going to look like. As an aside, I checked out Clarke Cooke House after my meeting to book a table for any Friday or Saturday night. No go. They’re booked well into June—as far out as Resy was accepting them. Better call direct. How about the dining experience? Yesterday, excellent. But, on a recent trip to Boston, we learned you need to guard your table … [Read more...]
Bogle Warned: 800 lb. Gorillas & Greener Pastures
Look, I want you to be a happy, long-term investor. It would be easy for both of us if I told you to just buy an index fund, set it, and forget it. That approach may have worked well in the past, but I have concerns moving forward. When the late, great, founding-father of indexing Jack Bogle expressed dismay for his creation on his deathbed, I paid attention. Only a few months before he died, Bogle wrote, “Three index fund managers dominate the field with a collective 81% share of index fund assets: Vanguard has a 51% share; BlackRock, 21%; and State Street Global, 9%. Such domination … [Read more...]
Are You The Intelligent Investor You Deserve to Be?
When it comes to your money, I want you to be a survivor. As you can see in my table, stocks have declined by over 30% three times already in this young century, and I’m talking about blue-chip stocks in the Dow Jones Industrial Average. When we look at the tech-laden NASDAQ and the S&P 500, declines have been far more precipitous—declines as high as 68% and 55% respectively. Moving forward, your job will be to survive the wreckage. I’m here to help. In my table below, you’ll see the performance of the Vanguard Wellesley and Wellington funds during these tumultuous periods in history. … [Read more...]
Don’t Take Government’s Word on Inflation, You See It for Yourself
Your Survival Guy is seeing rising prices on stuff we actually use. You need not be confused by some useless and outdated government measurement. You can see it for yourself. Jaewon Kang reports in The Wall Street Journal: Americans accustomed to years of low inflation are beginning to pay sharply higher prices for goods and services as the economy strains to rev back up and the pandemic wanes. Price tags on consumer goods from processed meat to dishwashing products have risen by double-digit percentages from a year ago, according to NielsenIQ. Whirlpool Corp. WHR +1.02% freezers and … [Read more...]
Your Survival Guy: MVP, Cryptos, GUNS, Big Macs & YOU
How are you? Are you thinking about where we are in life right now? Wondering if it will ever go back to “normal?” I know I am. It can get pretty upsetting thinking of how easily they take things away. As if they know what’s best for you and me. They don’t. In thinking about survival, one theme that rings true is our attitude. Do we believe we’ll make it? Do we believe in ourselves? I know I believe in you. When you read about survival stories, oftentimes there’s not a heroic act that separates those who make it from those who don’t. It’s an important reminder to keep in your back pocket. … [Read more...]
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