Darla Mercado reports at CNBC: Fidelity has terminated a $500 million relationship with Fisher Investments, bringing the total yanked from the money manager to almost $1.8 billion. Officials at the giant Boston-based asset manager confirmed it would end its relationship with Fisher on Monday, in light of inappropriate comments founder Ken Fisher made at an investment conference on Oct. 8. Fisher managed $500 million in assets for Fidelity’s Strategic Advisers Small-Mid Cap Fund. “Fisher Investments does not provide investment advisory services for any portion of the assets of … [Read more...]
Your Retirement Life: Thank You EJ from Kodiak, Alaska (Part II)
You may have read about my client Dr. Lee earlier this week, how we’ve been working together for 16 years, and the story behind the homemade “Thank You EJ” sign in the picture. I want you to read his response to my post and share it with everyone whose financial security you care about. Part of my effort on your behalf is to help you avoid inertia, get into the compounding game, and always be prepared for the worst. Always think about your risks first and realize the success you and your family deserve. It’s that simple. Here's what he wrote: Well said. Hope people listen. It’s not … [Read more...]
You’ve Read The Last Issue of Intelligence Report, Now What?
UPDATE: It's been two years now since the last issue of Richard C. Young's Intelligence Report, and the more things change, the more they stay the same. The Fed just announced it will begin buying $60 billion a month in T-bills. And the cycle continues. “I'm going to miss hearing from Dick Young every month,” said one long-time reader of Intelligence Report, “I’ve been reading his letter for 25 years. He was the best hands-down. He always wrote to me the way he saw things.” That’s a common refrain I’ve been hearing over the last couple of weeks. In an industry littered with opinions, you … [Read more...]
My Battle-Hardened Stock Market Strategy for the Worst of Times
In September of 2014, I explained to readers my battle-hardened strategy for dealing with the worst of times in the stock market. My strategy was inspired by Ben Graham, and I have used it throughout my 55-year career in investing. Here’s how it goes: Ben Graham’s The Intelligent Investor was first published in 1949. I came in a little late in the game with my 1973 edition, which I have in front of me as I write. It is important to me that you and all of our management clients are able to sleep well, even during the periodic stock market busts that we all have to ride through from time to … [Read more...]
The FIRE Movement by the Numbers
The financial industry is full of anecdotes and stories by writers (myself included) providing their own perspective on events. The FIRE (financial independence, retire early) movement is blessed with many blogs and podcasts discussing the early retirement journeys. But anecdotes never tell the whole story, so I want to give you some numbers on the FIRE movement. These numbers were assembled by a Harris Poll conducted for TD Ameritrade. How Many People Are Aware of the FIRE Movement? 11% Know about FIRE 26% Are familiar with the concept but not the term 63% Are not familiar with … [Read more...]
Don’t Be a Bettor, Be a Planner
In April of 2011, I wrote: My job is to help you separate fact from fiction and lay out a game plan for you and your family that will ensure your personal and financial security in the unstable and unsettling times that lie ahead. The broad battle plan that I’ll cover over the next few months will include the complete scope of the energy consumption/investment/personal security issue. Here is what separates what you read from me from most others: (A) I have no financial axe to grind and no ulterior motive. (B) I am not looking to make any new friends or curry favor. I am not, not … [Read more...]
The IRS is Coming after Your IRA with this Hidden Tax
More sausage is being made down in Washington D.C.—never a good thing especially when “revenue” and “IRA” are used in the same sentence. It’s called the SECURE Act, which laughably stands for Setting Every Community Up for Retirement Enhancement. It sailed through the House 417-3 and is expected to pass under unanimous consent by the Senate. The insurance industry loves the Secure Act. Uh-oh. At the heart of their love affair with this foul ball is the introduction of annuities as investment options for 401(k) plans. The reason they haven’t been offered in the past is because … [Read more...]
If You Are in Pain, this May Help. It Helped Me
Are you in pain? Does your body ache? Well, it’s called life. But there’s something you can do about it. We all have heard about mind over body. This is different. Let me introduce you to the late Dr. John E. Sarno, who during his life helped relieve the pain of people like Harvard Medical School grad and guru of alt medicine Dr. Andrew Weil, Curb Your Enthusiasm and Seinfeld creator Larry David, TV personality John Stossel, and shock-jock Howard Stern. What Dr. Sarno has done for them and for others is to understand that sometimes our mind-body connection is disconnected. Our … [Read more...]
Three Dangerous Traps Investors Face
There’s a lot you can’t control when you’re investing. Putting your money in securities necessitates some risk taking. You probably aren’t managing the companies you own, or the governments you lend to yourself, so you have to trust managers and politicians to do that. And you’ll never direct consumers and taxpayers, so revenue streams are completely out of your control. There are though, things you can do to put yourself on sounder footing. In July of 2004 I wrote: Compound Interest and You Here’s a compound interest story that should help you and your spouse. Let’s assume a hypothetical … [Read more...]
Is the World’s Largest Money Manager Pushing You into an Annuity?
I love the idea of maxing out your 401(k) until retirement because old school pensions are hard to come by. But turning your 401(k) into an annuity at retirement is a fool's errand. You’re faced with nosebleed inducing fees and limited access to your money while the insurance companies bank on your early demise. Not exactly a healthy relationship. It’s concerning that BlackRock, the world's largest money manager, is pushing for 401(k) annuities to grow its assets at the price of those who cannot afford to lose them and deserve better. Dawn Lim reports on the troubling development at … [Read more...]
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