I wrote in March 1991: Listen to me and listen to me hard as I tell you that investors miss the boat over and over because (1) they insist on timing the market, (2) they insist on investing with emotion keyed to events of the moment, and (3) they steadfastly refuse to buy when news is bleak. It’s the old buy-high-sell-low game again and again. Most investors regularly equate action with profits. But you don’t want a lot of action in your portfolio and you only need to follow a handful of indicators and a handful of investments. Most investors simply cannot help themselves, and that leads … [Read more...]
These Two Eastern States Are Open for Business
There were only two states on the East Coast that ranked in the Top 10 of the Tax Foundation's 2020 State Business Tax Climate Index. Those states were Florida at number 4, and New Hampshire at number 6. In the ranking, states were graded on corporate taxes, individual taxes, sales taxes, property taxes, and unemployment insurance taxes. Florida led the nation with the best ranking for individual income taxes and also secured the second-best ranking for unemployment insurance taxes. Florida placed in the top half of states in all categories. This year New Hampshire moved to 6th … [Read more...]
Tax Planning: Don’t Buy Mutual Funds’ Cap Gain Distributions
When you invest in your retirement life, it’s paramount you harness the advantages of a tax-efficient investment strategy. One strategy is to avoid surprise year-end capital gains distributions from mutual funds. Year-end distributions are why I prefer having individual, dividend-paying stocks in a brokerage account rather than the uncertainty that comes with mutual funds around this time of year. Take caution. Be prudent. Do not buy a fund around this time of year to immediately be on the hook for a tax gain. It’s like showing up for dinner, after it’s been eaten, and being stuck … [Read more...]
Since When do Democrats Want to Lower Taxes on the Wealthy?
Democrats in the Senate attempted and failed to loosen the $10,000 cap on state and local tax deductions yesterday. This seems odd because the burden of the cap falls heavily on wealthy taxpayers, and since the Bush administration Democrats haven't given an inch when it comes to lower taxes on wealthier Americans. The problem with the cap may arise for Democrats in that it hits the wealthy in high-income tax, Democrat voting states the hardest. In other words, Democrat politicians' donors. Richard Rubin reports in The Wall Street Journal: Full repeal of the cap would deliver more than half … [Read more...]
The Fall of the Facebook Brand?
Facebook and its founder Mark Zuckerberg have been enduring heightened scrutiny ever since the Cambridge Analytica scandal exposed the social media network's failures to protect user privacy. Since then, a cascade of bad news has hit the company, and according to a new ranking by Interbrand, that may be affecting its brand value. The Wall Street Journal's Nat Ives writes: Facebook fell out of the top 10 in Interbrand’s annual Best Global Brands report, dropping to 14th place from ninth as the estimated value of its brand declined 12% to $39.9 billion. Interbrand, part of Omnicom … [Read more...]
Do You Have the Tools to Carry Out Your Investment Plan?
I regularly meet investors who are going it alone. They are overwhelmed with choices and have little or no investment planning experience. Back in December of 1986, I told investors that they need a game plan and the tools to carry it out. I wrote: “’It was an overcast day.’…Everything on the beach came to a halt…When he passed out 40 Redsand volleyballs,…’it looked like it had rained radioactive bowling balls.’” These graphic quotes from Bruce Anderson’s recent “Shoptalk” column in Sports Illustrated describe the beach scene at Manhattan Beach, California when Olympic volleyball star … [Read more...]
Boston Pulls $248 Million from Fisher Investments
The city of Boston's pension board will join Philadelphia and the state of Michigan in divesting from Fisher Investments reports Bloomberg's Janet Lorin, writing: “Boston will not invest in companies led by people who treat women like commodities,” Mayor Martin Walsh said in a statement Wednesday. “Reports of Ken Fisher’s comments and poor judgment are incredibly disturbing.” The city’s pension board will pull $248 million. Fisher Investments is seeing a growing backlash since the firm’s founder made offensive comments about women, spoke of genitalia and then failed to immediately … [Read more...]
Doing Business with Fidelity (Not Schwab)
Yesterday Schwab reported third-quarter earnings. During the three months ending Sep. 30, the e-broker made 70 cents a share up from 64 cents a year earlier while revenue increased $132 million to $2.71 billion. Guess where the money was made? “For Schwab, net interest revenue made up 60% of overall revenue during the September quarter,” reports the WSJ. Do you know what net interest revenue is? It’s when Schwab lends your cash out, keeping the profit for itself. “Schwab and other e-brokers make a significant portion of their profits by sweeping cash daily from customers’ brokerage … [Read more...]
Are Low Interest Rates Amplifying Market Shocks?
New research from the IMF suggests that forcing investors to search for yield in riskier assets by targeting extremely low-interest rates is amplifying shocks in markets. Chris Giles reports for the Financial Times: Persistently low interest rates are encouraging investors to take dangerous risks in a quest to maintain their financial returns, the IMF said on Wednesday, raising concerns that even the current lacklustre performance of the global economy may not be sustainable. Policymakers should urgently seek to extend banking regulations introduced after the financial crisis to other … [Read more...]
Your Retirement Life: Our Cabin on Kodiak, Alaska
I’ve been working with Dr. Lee for 16-years. He was only 53 when he became a client. Even back then he was the millionaire next door. But for about two weeks of every month, he doesn’t have any neighbors. That is unless you happen to have a cabin on Kodiak Island, Alaska. Even then you probably won’t see each other. Overlooking the water, his cabin is a fly cast away from world-class King Salmon fishing. He loves to fish. He also loves to share his knowledge and to keep learning. Before he retired he would sharpen his professional axe teaching university students about oral … [Read more...]
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