When it comes to your money, one question you must be able to answer is: Are you working with investment counsel you can trust? Are you working with a counselor who adheres to the fiduciary rule—someone who, by law, makes investment decisions that are best for you, not them? Are you working with someone who’s seen it all? Yes, stocks do crash. That at least puts you at the starting line. Next, you and your counsel need to develop trust. This comes in many ways. The idea is to get to a level where you can ask your counsel anything, knowing you’ll have an answer with the truth you deserve. … [Read more...]

Imagine sitting under a palm tree, toes in the sand, gazing across a turquoise sea with not a care in the world. Wouldn’t it be nice to feel like this most days of the week rather than only on vacation, especially in times like these? Now, I know it’s not exactly practical, even if you have a tropical island as the backdrop of your Zoom calls. But you’d be surprised at how much island life is right in front of your eyes. For example, when it comes to investing, my favored Prudent Man certainly stands alone as an island far away from your everyday stock traders: For years my father-in-law … [Read more...]

You don’t get to choose a lot of things in life. In times like these, we're always thinking of loved ones. We look at the world today and wonder what it will be like for them when we’re gone. How will our children survive, when being a productive citizen is frowned upon? Believe me, your instinctual focus on your family is always correct—because they need your guidance. You just need to give it. Your children will always be your children. In my conversations with you, you’re telling me how worried you are about their futures. In many cases, you’re telling me how successful they are in … [Read more...]

At The Wall Street Journal, Michael Wursthorn and Geoffrey Rogow tell the story of Swedish investor, Kristjan Kullamägi, who found out the hard way that shorting stock can be a dangerous endeavor. They write: “Lately, shorting has been a little more stressful,” said Kristjan Kullamägi, a 32-year-old trader who lives in Stockholm. “Some of these tech stocks have doubled and tripled.” Mr. Kullamägi, who has been trading full time for himself for nearly a decade, was keeping an eye on smaller, more-volatile stocks for a potential opening to short. He found one in late July in shares … [Read more...]

If you own a waterfront home, or a mountain retreat, or some land with a barn not too from the city, then you know their values are going up. I’m seeing it here in coastal Newport at every turn with license plates from NY, NJ, MA, and CT filling the streets—the secret’s out. But most have been dreaming about the “lifestyle” for years. They just needed a push to get in the game. “If you’re on some kind of fence, Covid shoves you off of it,” explains Luke Siegel as he and his wife Johanna bought a home on 30 acres with a barn just north of NYC. (You can read about here). Sitting on the … [Read more...]

There’s never been a better time to get your financial house in order. Don’t let inertia beat you down. It’s time to get up, put pen to paper, and make sure everything you own deserves a place in your portfolio or decide if it has served its time. Treat your portfolio with the love and care you have for your home and garden and, believe me, good things will happen for you and your family. Make it a good day. Life is Good: You’re Ready to Protect Your Turf Your Retirement Life: Investment Planning in One Chart Your Retirement Life: Parents, do You have an Investment … [Read more...]