Why limit poor investment decisions to the religious when the political need to do something stupid with their money? For the umpteenth time... 1) values are great 2) investing is for earning and protecting profits 3) #1 and #2 are mutually exclusive 4) re-read item #3
Back in November we wrote about the spin coming from Wall St ahead of the Dept of Labor's Fiduciary Rule. We were skeptical of the Wall St sales machine's intentions. It seems we were right to do so. In response to the Fiduciary Rule's delay and expectation it will be gutted (or completely killed) Merrill [...]
Procrastinators rejoice! This year due to April 15th falling on a Saturday and Washington, D.C.'s Emancipation Day (the holiday celebrating President Lincoln's signature into law on April 16th, 1862 to end slavery in D.C.) falling on a Sunday (meaning it will be observed on the 17th - a Monday) Federal personal income tax returns and [...]
This so called “new religion” is nothing but a pack of weird rituals and chants designed to take away the money of fools. Now let us say the Lord's Prayer 40 times – but first let's pass the collection plate! We can always count on [...]
According to a recent study by caring.com just 40% of U.S. adults have a will (including only 36% of U.S. adults who have children under the age of 18). What’s more only 53% of U.S. adults have a healthcare power of attorney (“POA”). What’s the big deal? Without a will or similar trust agreement decisions [...]
I believe I've passed the age of consciousness and righteous rage. I’ve found that just surviving was a noble fight. I once believed in causes too. I had my pointless point of view. And life went on no matter who was wrong or right. - from Billy Joel's "Angry Young Man" Life advice from the [...]
On January 10th California Governor Jerry Brown proposed a whopping $179.5 billion (yes, that’s a “B”) budget. State revenues are projected to fall short by $1.6 billion. The culprit? All those greedy millionaires and billionaires who refuse to pay their “fair share.” According to the most recent data (2014) the top 10% of the state’s [...]
How did the DJIA perform in 2016? What were the drivers? How does that compare over the trailing 10 years? Let's have a look...
Many brokerage firms and insurance companies speak from both sides of their mouths. Surprised? We shouldn’t be. The marketing departments of these firms promote the idea that employees are trusted advisors providing personalized investment advice. Conversely in an attempt to avoid complying with the upcoming fiduciary rule (i.e. doing what’s in the best interest of [...]
The typical investor is almost always his/her own worst enemy. Overconfidence, behavioral biases and emotional decisions conspire to ensure investment returns trail not only most major asset classes but even inflation. Consider the ROR of the average investor over the past 20 years: 2 SOURCES: JPMorgan Asset Management, Barclays, FactSet, S&P, Dalbar. 60/40 and 40/60 [...]