Last week I took an essential business trip to Colorado, which resulted in my booking a room at a well-known national hotel chain. As I approached the hotel I saw there were no cars in the parking lot. The place, which had only opened in the past six months, was a complete ghost town. My…
DetailsAs a financial advisor and a pilot, I consider myself a good risk manager but I can’t hold a candle to my wife. She has given birth to seven children. She told me that if you can survive pregnancy and childbirth, you can do anything. I believe it. With each child I have seen Launa…
DetailsAn investor came to me for advice this week saying, “I spend all day long watching every show, joining every webcast and following every analyst I can find, and I’m still confused and don’t know what to do.” I responded that if I did the same thing, I wouldn’t know what to do either. I get…
DetailsNot long ago I wrote that according to statistics from the Department of Labor, over half of all financial advisors had never experienced a bear market first-hand. I can safely set that statistic aside now. This crisis has been quite an education for investors and their advisors. Based on some younger financial advisors who have…
DetailsMy copy of the masterpiece, Dante’s Inferno, is in Italian, so I will attempt to translate into English the sign that hung above the gates of hell in that poem. It said, “Leave behind all hope, you who enter here.” To Dante, the loss of hope was the loss of everything. I thought of that poem…
DetailsAs of this writing, the DOW average has just climbed through 22,000 on hopes of a massive government stimulus package. The stock market is acting like the crisis is over. Just a couple weeks ago investors panicked as the DOW average was falling through that same number. It is a testament to the irrational emotions…
DetailsI can’t remember a time in my life when I didn’t run a business, and every business taught me valuable lessons. Like many others my age, my first business was a lemonade stand at the age of six, which I shared with two of my siblings. I learned a lot in that short-term business, most…
DetailsAll my life I have loved to fix things. I was never content letting someone else do it. I had to do it myself. At age 7 when my gas-powered airplane wouldn’t start, I put my little brain to work. I knew it needed fuel, air and battery in the right quantities to start. I…
DetailsSeveral years ago I began writing columns on computer generated trades, and more recently on the new Robo Advisor platforms. I have mentioned there are pros and cons to allowing computers to make your investment decisions. On the “pro” side, computers may remove emotion from the process. Emotions have damaged many investor portfolios. Although, one…
DetailsIt’s been a wild week on Wall Street with the Dow average falling about 12% over five days. At times like this I look at history for perspective. I got my introduction to market volatility in October of 1987 when the Dow average fell almost 23% in a single day. By today’s standards that would…
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