I needed help from a major company that I have done business with for years. They have always provided the highest level of service. When the virus hit, this wonderful company struggled to continue the high-quality service upon which they had built their reputation. It wasn’t their fault. The changes the virus imposed made it…
I needed a new car and if you haven’t shopped for one lately let me just say, good luck. After a couple of weeks, I found myself wondering if I was living in cold war Russia. Each salesperson said some form of “You want a new car? Yes, we can get one in three months.…
My Dad grew up in an orphanage from age five. It wasn’t a pleasant life by today’s standards but with the depression going on he recognized the blessing of having a warm bed and three meals a day. At the age of 13 he “graduated” from the orphanage and was sent out to make his…
In 2013, after a rapid climb to glory, the world of cryptocurrency was rocked by its first major downturn. The internet lit up with chatter from largely millennial investors trying to decide what to do with their newfound, but rapidly shrinking wealth. On December 18th, in the midst of the social media back-and-forth, a poster…
When asked what the greatest risk to investors is, I usually answer, “Themselves.” Whether it be greed, fear or impatience, humans are very creative at finding ways of sabotaging a good financial plan. Let me begin this discussion in my youth when I decided to join a high school debate team. My first assignment was…
One form of financial fraud that is particularly painful to discuss is advisor fraud. What if the financial advisor you have trusted, turns out to be the one stealing from you? I regularly track the SARS (Suspicious Activity Report) issued by the banking industry through the Consumer Protection Bureau. A recent report found that 25%…
Flight instructors often remind new students that take-offs are optional, but landings are mandatory. This axiom reminds pilots to think carefully before they push that throttle forward to head down the runway. Once in the air, the most difficult part of flight is usually the landing. At any other time, the plane can be very…
I’ve never liked the way many analysts refer to market headwinds as if they are always negatives. Let me explain. I had the pleasure this summer of going on a sailing trip with two of my boys. We left Newport Harbor and sailed 27 miles to Catalina Island, where we spent a couple days exploring.…
My home office has a program to help protect our company from fraud. They regularly send phony “scam” emails to all advisors, trying to trick them into falling for them. If we do, we joke about having to wear the “cone of shame” for our error. The effort has successfully trained us to question everything…
In one of my very first economic classes the professor said, “U.S. government bonds are considered risk-free investments because of the governments’ unlimited taxing ability.” Even at my young age I considered that an arrogant statement, and one that if truly believed could lead to all kinds of political mischief. Congress is currently considering the…