In my youth I loved to sail. Sailing can be a very rewarding experience. As much as I love sitting behind the 800 horsepower turbine engine in my airplane, there is something very special about a quiet, beautiful day on the water, gliding peacefully along under the power of the wind. In recent times my…
DetailsIn his 1933 inaugural address, Franklin Roosevelt made his famous statement regarding the Great Depression saying, “…the only thing we have to fear is fear itself…”. Throughout my career as a financial advisor I have had many opportunities to reflect on that quote. I have watched as investors have reacted with fear to the many…
DetailsI doubt many of my readers spend a lot of time studying, or caring about, Rule 144A from the Securities Act of 1933, but let me point out how a recently proposed change to that rule might affect them.* The rule requires investors in the private capital markets to qualify as “Accredited Investors.” This means…
DetailsMy mother will be celebrating her 90th birthday this week. I am not sure what her plans are, but I suspect they will include swimming, which she has done six days a week for many years. Keeping her body and mind in shape has always been very important to her and perhaps a key to…
DetailsIt was always a treat when my elementary teacher brought in the movie projector. One of my favorites was the Disney cartoon story of Johnny Appleseed. Though a bit mythologized, John Chapman was a real-life pioneer who travelled across the country planting apple seeds for those who would follow long after. Investors I work with often…
DetailsI have a second home with six Xanadu plants and two of them struggle while the others are doing great. With some research I discovered that the two were getting more hours of direct sunlight than the others. I learned that the Xanadu family of plants thrives in low light and the few extra hours…
DetailsThis week I attended the Newport Beach Christmas Parade of Lights. It’s an annual event where dozens of yachts, decorated in Christmas lights, parade around Newport Harbor. The sights, sounds, music and festive parties were a sight to behold. The parade passed by multi-million-dollar homes, high end restaurants and hundreds of additional moored yachts, all…
DetailsA friend asked if the China trade war is the only issue that matters anymore to Wall Street. Based on the daily financial news, one might get that impression. It reminds me of a quote by the late Benjamin Graham, who is viewed by many as the father of value investing. He said, “Over the…
DetailsI try to avoid political topics, but quite often politics and investing cross paths and it’s part of my job to warn my clients when the one might negatively affect the other. One current issue I found interesting were the stories of this year’s Black Friday protests. Apparently, some individuals who take issue with our…
DetailsI saw an interesting story in the news of a pilot who hit some power lines with his small airplane. The accompanying picture showed the plane dangling upside down from the lines, while a fire department ladder truck rescued the pilot. I could only imagine how he must have felt as he hung there waiting…
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