You really can’t make this stuff up. Pension funds refuse to read the writing on the wall: We are living in a reduced return world. It’s as simple as that. Yet instead of taking their lumps, and I’m not even talking about funding what they should have paid years ago into the plan, they are […]
Retirement State: Which States have the Highest Estate or Inheritance Tax?
There’s a lot of reasons for New Englanders to retire to Florida or New Hampshire. From the Tax Foundation: In addition to the federal estate tax of 40 percent (which is fourth highest in the OECD), many U.S. states levy their own estate and inheritance taxes. Estate taxes are charged against the estate regardless of who […]
Venezuela: Verging on Failed State Status
Venezuela is verging on failed state status says former U.S. Ambassador to Venezuela Patrick Duddy. A Happy Meal in Caracas costs US$146. The government has reduced the work week to two days to save power. This is what socialism looks like. Watch the latest video at video.foxbusiness.com
Meet the One Person Every Business in the World Needs
Happy Memorial Day Weekend. Time for remembrance. Time for summer. Time to get to work. When I was a kid I had three different jobs: a paper route, cutting lawns, and scooping ice-cream. One person I met at all three was, “the customer.” At the first job, the paper-route, I didn’t see the customer every […]
Hedge Funds Fail
This week it was reported that Tudor Investment Corp., one of America’s most expensive hedge funds, will be cutting its very high fees from 2.75% of assets and 27 percent of profits to a still very high 2.25% and 25% respectively. Still much higher than most of the confiscatory fees one will find among hedge […]
Preserving Your Constitutional Right to Carry in D.C.
U.S. District Judge Richard J. Leon issued an injunction prohibiting D.C. from requiring lawful citizens to show “good reason” before being granted a permit to carry a firearm, reports America’s 1st Freedom. Sticking up for your rights, Judge Leon found that the D.C. law violated the “core right of self-defense”. He quoted the Supreme Court’s […]
Smart Guns Make U.S. Look Dumb
The liberal Ninth U.S. Circuit Court of Appeals in San Francisco, is expected to rule soon on whether states can force firearm manufacturers to incorporate safety devices in their products. Here’s why smart guns are a stupid idea from Robert Farago: “Smart guns” will never be foolproof – and you’re the fool I don’t care […]
Sorry, The Game is O-V-E-R for these 2 Mutual Funds
The game is over for the Putnam Capital Spectrum and Equity Spectrum funds. Sorry to be so harsh. But that’s simply the way I see it. Not to pat my own back but I’ve pointed out in the past how Putnam has been guilty of being more of a marketing machine than a Prudent-Man oriented […]
Looking Back at a Random Walk Down Wall Street
Burton Malkiel has released a new edition of his book A Radom Walk Down Wall Street. In it he recommends substituting a part of a bond portfolio with high-yielding stocks. This is rotten advice and will likely get his followers into some trouble down the road. Yes, bond yields are low, but bonds should always […]
Pensions in a Load of Trouble, Part II
The state of Rhode Island has been a big-time investor, through its pensions, in hedge funds. Retired teachers who depend on this money for retirement should not be invested in hedge funds. It’s as simple as that. Unfortunately in the world of public pensions big committees and chest thumping rule the day. Egos and resume […]
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