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Never Bet the House

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Investing is not betting. There are people who buy stocks to invest in them, and people who buy stocks to bet on them. Never be the latter. After the crash of 1987, I compared that to the surprise defeat of “sure thing” Sonny Liston by Muhammed Ali. I wrote: “Bet the house on Liston…it’s a sure thing.” Once again, what could never happen, happened. Once again, the underdog defeated the favorite. And once again, people learned — many the hard way — that there are few “sure things” in life. The lead quote appeared in a provocative Wall Street Journal ad run by FGIC (municipal bond … [Read more...]

Trump Administration Vows to Keep Markets Open

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With heightened volatility, lots of uncertainty, and some liquidity issues in markets, what are the chances that regulators might consider closing the stock market? The market has been closed before in periods of crisis. After the 9-11 attacks, the market didn’t reopen for three business days. Treasury Secretary Mnuchin has so far pledged to keep markets open. He reiterated that pledge again today, saying the administration would like to keep markets open but may consider reducing trading hours. On the surface, closing the markets might seem like a good idea, but keeping them open is … [Read more...]

Coronavirus Fight: Should Every American Get a Check for $1,000?

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With lockdowns, quarantines, and mandated closures of businesses now savaging some parts of the economy, fiscal stimulus is on the table. Some want a payroll tax cut, which could work, but if you lose your job because your restaurant closed you no longer have a paycheck to deduct those taxes from. There is also talk of bailing out select industries impacted by the virus. Some Republicans simply want to cut a $1,000 check to every American. There may be better ways to get money into the hands of folk who need it, but this isn't the worst idea. Payroll tax cuts won’t get to folk losing … [Read more...]

Protect Yourself from Coronavirus Scams

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Your personal financial security is a top priority for Your Survival Guy. Every time a major disaster or emergency occurs, financial fraudsters kick into high gear. They attempt to take advantage of the panic and confusion by conning you out of your hard-earned savings. The COVID-19 coronavirus outbreak is no different. Here's some information you should keep in mind as the days go by. From the Federal Trade Commission (FTC): The FTC and FDA have jointly issued warning letters to seven sellers of unapproved and misbranded products, claiming they can treat or prevent the Coronavirus. The … [Read more...]

The First Big Test for Crypto-Currency Isn’t Going Well

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In the face of their first big test since popularization, crypto-currencies are not faring well. Jemima Kelly reports of bitcoin for FT's Alphaville (abridged): For a brief moment there, it really did feel like the good old days. Bitcoin shot up from about $5,200 to about $5,900 just after the Fed’s announcement. This was the beginning of something special, wasn’t it?! Alas, no. This bouncing cat, it turned out, was lifeless. For those fleeting moments after the Fed announcement bitcoin could thrive; could be free; could resume on its slow but unstoppable trajectory toward the moon. But … [Read more...]

Trump Knocks it Out of the Park with Coronavirus Speech

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President Trump gave a speech at 3:30 today, declaring a National State of Emergency to speed the coronavirus response. Trump mobilized the private sector and slashed regulations and antiquated red tape designed for a different time to increase the amount of testing that can be done. There will be a website ready by Sunday that will help Americans decide if they need to be tested, and where they can go to get a test. Companies including Wal-mart, Walgreens, CVS, Target, Roche, Becton Dickinson, Thermo Fisher, SYNERGY HomeCare, and Quest Diagnostics have volunteered to help millions … [Read more...]

Invest with Balance

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Diversification and patience are essential to long-term investment success. Put all your chips on one stock and you risk financial ruin if that stock ends up being the next Enron or AIG. Buy without providing time for the investments you select to work out and you may experience the same outcome. A diversified portfolio that includes stocks and bonds is ideal for retired investors and those approaching retirement. Balanced portfolios are less volatile and less risky than all-stock portfolios. Balanced portfolios also help those investors who no longer have the safety net of a regular … [Read more...]

Coronavirus Infects Stock Market: Part XIV

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Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, told CBS News' Norah O'Donnell that life may not get back to normal for up to two months. Two months is a long time. Here's a bit of the back and forth between O'Donnell and Fauci: O'DONNELL: We know the symptoms of COVID-19 are dry cough, fever and shortness of breath. If someone has those symptoms, should they go to the emergency room? FAUCI: No, thank you for the question. They should stay home, call the health care provider, call their physician or even call the emergency room and say, these … [Read more...]