Former colleague John Mauldin writes, Higher for Longer: (emphasis mine) “There is this constant argument that Jerome Powell is somehow going to pause after the next rate hike, and then begin to cut rates in the late spring or summer because the economy will soften and inflation will have returned to the Fed’s target range. Bottom line up front: I […]
» Read moreA Note From Dennis: Each year I write a mentoring letter for the holidays, hoping readers will forward it to their family and friends. This was written in 2019. With many new readers, I wanted to run it again. I feel it is still very appropriate today. EARLY FALL 2008 – It was my 50th high school class reunion; a […]
» Read moreIn our recent interview with Chuck Butler, we discussed the challenges of “locking in” safe interest income. The challenges are tough: Beating inflation. Currently inflation is around 8%. If your interest rate is below the inflation rate, your money will buy less when the bond or CD matures. Market timing. Locking in rates makes sense when you are near the […]
» Read moreAs children, our elders programmed us with certain “core” beliefs. As adults, finding contrary evidence to those beliefs creates discomfort called “Cognitive Dissonance.” Psychology Today defines: “Cognitive dissonance is a term for the state of discomfort felt when two or more modes of thought contradict each other. The clashing cognitions may include ideas, beliefs, or the knowledge that one has […]
» Read moreGood friend and bond expert, Chuck Butler recently mentioned: “And someone somewhere, somehow is buying the 10-year Treasury, and the yield on the bond is slipping again, with it trading with 3.73% yield this morning.” MSNBC provides a graph of yields leading up to Thanksgiving week: Yields were at a high of around 4.2% and closed out the week at […]
» Read moreSubscriber John H. is Canadian. He regularly posts inspirational messages on a tree stump which is much appreciated in his neighborhood. It should resonate everywhere! I was pleased he gave me permission to share it. (I cropped off his last name to protect his privacy.) Happy Thanksgiving to All. May You Take-a-Moment to do one or more of the […]
» Read moreI dislike feeling rushed to meet a deadline. When I started Miller On The Money, I promised myself I would write a couple weeks in advance to avoid the deadline pressure, I wanted this to be a fun adventure. I’m writing this just before the election. I can’t wait for it to be over with, I’m fed up with the […]
» Read moreWho wouldn’t want FREE money? Politicians love it and citizens gladly accept it. Stimmy checks?? The Government Accounting Office touts, “The federal government made direct payments to individuals totaling $931billion.” That does not include student loan forgiveness or other government handouts. Now the states are getting into the act. Yahoo supplies the current scorecard, “These twenty states are sending out […]
» Read more“I told my dad he was dumb, turned out he was dumb like a fox!” That comment came from a friend in the bond department of a large brokerage firm. We were discussing buying bonds, CDs and interest rates. He was fresh out of college when Paul Volcker started raising interest rates to double digits. With extraordinarily high-interest rates, his […]
» Read moreWhat is money? Baby boomers worry about retirement, workers never seem to have enough while politicians spend other people’s money recklessly to buy votes. Richard Maybury writes a terrific publication which I highly recommend. His recent issue grabbed my attention: (Emphasis mine) “Ever since President Nixon bamboozled the whole world by sabotaging the gold standard in 1971, there has been […]
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