Legendary congressional veteran Claude Pepper was a spokesman for the elderly. One of his often-copied quotes applies today: “A stockbroker urged me to buy a stock that would triple its value every year. I told him, at my age, I don’t even buy green bananas.” Today his comments apply not only to stocks but also bonds and Certificates of Deposit […]
» Read moreJo and I were watching an exciting hockey game between our favorite team (Tampa Bay Lightning) versus the Philadelphia Flyers. Tampa had a 3-0 lead with six minutes left on the clock. The referee sent a Tampa player to the penalty box. For those unfamiliar with hockey, the penalty box is an adult “time out”, the player is sent to […]
» Read moreWill we repeat the mistakes of the past that led up to WWII? Jim Rickards thinks so. His recent article “Now, a Trade War – Is a Shooting War Next?” offers the history leading up to WWII and warns: “Get ready for an all-out financial war between the U.S. and China. Germany is also in the crosshairs…. Trump has already […]
» Read moreThe US Debt Clock tells us our national debt is around $21 trillion. Social Security promises are approaching $17 trillion – included in the “unfunded” government promises – over $112 trillion. Despite government mandated Cost of Living Increases, our recent article, “An Inconvenient Truth About Social Security” clearly indicates social security recipients have no inflation protection.Each month, seniors and savers […]
» Read moreOn a hot summer day, I was flying my single-engine Piper Comanche from Schaumburg, IL to Indianapolis, IN. I decided to fly higher than ever before (9000 feet). With the tailwind, I touched 200 mph. The sky was crystal clear; I could see across Lake Michigan. I felt like I was in the stratosphere and could see forever! It was […]
» Read moreMy grandfather, William Paul Smith was an ordinary dairy farmer with a degree in common sense. One of his favorite sayings was, “It’s the same thing, only different.” 70 years ago, he warned me not to throw rocks at a wasps’ nest. As I cried and put ice on the sting, he explained what happened always happens – and I […]
» Read moreWe moved to Texas in the early days of the dot-com boom. I reconnected with a boyhood friend Tom. He has an economics degree from an Ivy League school, became a successful stockbroker and economics consultant. My broker would “suggest” I consider some of the hotshot dot-com stocks. Tom provided a good offset, suggesting caution. Many of these companies were […]
» Read moreIt’s a scary feeling when you retire and cut the cord from your full-time job. I stared at our brokerage statements and realized my new job was investment manager. I had to make our money last so we could enjoy the rest of our lives. Several friends had recently rolled their 401k into self-directed accounts, and we discussed our feelings. […]
» Read moreThe sign on the booth touted a new, sophisticated computer-generated money management program. I walked inside and asked about stop losses. The young man replied, “Hold on to your stocks, the market always comes back.” I countered, “Can you guarantee it?” He pulled up a chart with some blips, concluding the market has always come back from a crash. I […]
» Read moreWhich dividend stocks should you sell, and which should you keep? The stock market is setting records. Since the bank bailouts began in 2008, it’s no wonder. Interest rates dropped to historic lows, causing the stock market to soar. We recently discussed the acronym, TINA (There Is No Alternative). Investors, particularly baby boomers and retirees have few options to invest […]
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