Gold is here to stay. Make sure you own some. As I’ve said in the past, I don’t worry too much about the short-term action of gold. And I don’t buy it to make money. I buy it to hedge against the unexpected. It’s an insurance policy for my portfolio if you will. Is there any insurance for a reckless Federal Reserve the world over? No one knows exactly how this race to the bottom by Central Banks will end. But it is clear that they don’t have much regard for maintaining the value of their currencies. “It makes a great deal of sense to own gold. Other investors may be finally starting to … [Read more...]
When the Wi-Fi Goes Out: The Eagles Take It Easy
Losing your internet connection or Wi-Fi can be pretty annoying. Lately we’ve been experiencing spotty Wi-Fi connectivity at our house. Last night our internet was completely out because a cable was accidentally cut by a “third party” construction company. It’s not the end of the world. But it doesn’t help, especially when your teenagers are trying to do their homework. It’s ironic, now that I think about it, we had the Eagles, Their Greatest Hits (1971-1975) spinning on our record player. This is by far our most played album over the last six months. It’s a perfect early-in-the-week album. … [Read more...]
Learning from the Stock Market Crash of 1929
Here you get a glimpse into what really caused the stock market crash of 1929 from the Cato Institute’s Alan Reynolds courtesy of his 1979 article in National Review. [gview file="https://www.richardcyoung.com/wp-content/uploads/2016/05/reynolds_speech_19791109.pdf" width="640px" save="1"] … [Read more...]
The Monday Melee: Is Europe Really Dependent on Russian Energy?
A Relic from the Past Tim Boersma and Michael E. O'Hanlon of The Brookings Institution call "The notion that Europe is weak and dependent on Russian natural gas is a relic from the past." They write: For many years, analysts and policymakers have debated the question of Europe's dependence on natural gas from Russia. Today, this problem is largely solved. Russia provides only one-third of Europe’s gas. Importantly, Europe’s internal infrastructure for transporting natural gas in all desired directions has improved greatly. So have its available storage options, as well as its possibilities … [Read more...]
Do We Really Need to Convert to a Roth IRA?
So you’ve created a Roth IRA because: “My accountant suggested I convert to a Roth IRA.” I get it. Sure it could make sense long-term if the growth of the portfolio is good, and if the law remains the same. That’s too many ifs for me. To feel more comfortable I’d prefer you didn’t have to deal with the issue all together as I pointed out here: Chris [Edwards] is Cato Institute’s Director of Tax Policy Studies and editor of DownsizingGovernment.org. If you’re looking for a way to help advance the principles of individual liberty, limited government, free markets and peace, you’ve found it in … [Read more...]
This is Why You Buy Bonds
Investing in the bond market has been a tough slog over the last few years. Zero percent policy rates and bond buying by the world’s major central banks has kept yields at some of the lowest levels on record. Investors have long had an aversion to the bond market. Bonds don’t offer the glamour and hope that many crave from their investments. And bonds don’t provide the kind of long-term upside that stocks can. Add today’s ultra-low yields to the investing public’s natural bias against bonds, and the result is a move by some investors to load up on stocks in an effort to boost income. Higher … [Read more...]
Investing in the Forlorn, the Unloved, the Out-of-Favor, Part II
Dividend paying stocks may not always get the recognition they most certainly deserve (they are now!). But they some how have a knack of paying you to be invested. And that’s enough recognition for me. Don’t be afraid of investing in the forlorn, the unloved, or the out-of-favor. They tend to be the one’s that surprise you when they grow-up. In the March 2016 issue of Richard C. Young’s Intelligence Report, Dick Young wrote: The Great John Neff John Neff, in his Vanguard Windsor fund days, was an outstanding proponent of investing in the forlorn, the unloved, the out-of-favor. John was … [Read more...]
Working Millennials: Rent or Buy Real Estate? Part III
Buy of course! As I wrote to you in Parts I, and II the key for you is to be creative and get started: Make the jump from a life of paying “The Man” to one where you pay yourself. A simple concept, yet hard to do. What did I do when I was your age? I made the monumental change in my own mindset—I became determined to pay myself. I bought a multi-family, rented the top two floors and lived on the first with two co-workers from Fidelity Investments. I want you to buy a multi-family type property. It can be a two-family, four-family, you can live in the basement of a brownstone. It … [Read more...]
Working Millennials: Rent or Buy Real Estate? Part II
In Part I told you how I got into real estate and I haven’t looked back since. How can you, a young Millennial, get started? Get creative! Figure out a way to come up with a down payment. I did. I borrowed from my dad. But what if that isn’t an option for you? Well, keep moving forward. Get creative. The best way I have found to be creative is to speak directly with the decision maker. It’s the best way to find out the real story. During my search for a multi-family property in Marlborough, MA I scoured the classified ads with a red pen. I came across an intriguing listing 40 minutes … [Read more...]
Fed Economist: Negative Rates a Tax
Chris Waller, an economist and EVP and Director of Research at the St. Louis Fed, wrote on Monday that negative interest rates are a tax in sheep's clothing. Waller says: Many foreign central banks—such as the European Central Bank, the Bank of Japan and the Swiss National Bank—have implemented negative interest rates on bank reserves as a policy tool to stimulate demand for goods and services. If a bank holds a dollar of reserves, the central bank may take, say, half a cent. The hope is that a negative interest rate will induce firms to lend out the reserves by charging a lower interest … [Read more...]
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