The next time you travel to Paris make sure your credit card has an embedded SmartChip. I called American Express yesterday to have our Platinum cards re-issued with them. Apparently it’s not standard procedure to re-issue so make the call. With a SmartChip embedded the card works seamlessly for “chip and pin” style transactions favored […]
Investing
“Besieged” by Variable Annuity Cases
In 2012 variable annuity cases were the only class of security where arbitration cases increased. Recently, Diane Nygaard, a Kansas City, MO based lawyer said she has been “besieged” by investors claims, as reported in The WSJ. “[Brokers] will stand up in front of a room and sell what they tell people are tax free, […]
Hong Kong #1
Once again Hong Kong proves it is an economic powerhouse with a #1 ranking in the 2014 Index of Economic Freedom. The index, released by The Heritage Foundation and The Wall Street Journal shows the U.S. has dropped out of the top ten. Where’s the outrage? Terry Miller of Heritage writes in the WSJ: It’s […]
Tiny Bubbles
Imagine outgoing Chairman Ben Bernanke joyfully wrapping things up at the Fed while humming “tiny bubbles make me feel happy” from Don Ho’s song Tiny Bubbles. Creating bubbles seems to be a job requirement for a Fed Chair. The Fed is putting on an air of solidarity for incoming Chair Janet Yellen. The broad show […]
Blameless Bernanke
As Ben Bernanke prepares for life after the Fed one thing we learned from his predecessor Alan Greenspan is that they live in a different world than you and me. As Cato’s Chris Edwards points out, Mr. Bernanke’s easy money reasoning doesn’t quite match reality. In a speech on Friday, outgoing Fed Chairman Ben Bernanke defended […]
Calling the Crash of ‘29
If you look at a enough charts it’s not hard to draw historical comparisons to fit your frame of mind. After reading an article comparing this market to 1928-29 I was reminded of Roger Babson, founder of my alma mater Babson College who correctly called the crash of ’29. His “ten commandments” ring true even […]
Sales of Gold Coins Soar by 63% in First Three Quarters of 2013
This update hits the nail on the head. Individual buyers of gold coins are buy and hold investors with little need or desire to ever be sellers. I expect this 2013 trend, including increasing interest in silver and platinum, to pick up steam into 2014. Demand for gold coins shot up 63% to 241.6 metric […]
The Absurd Ben Bernanke
Fed Chairman Ben Bernanke’s easy money truck should be garaged. His so called taper is laughable. But don’t tell him that he’s been Mr. Easy Money. According to him monetary policy has been tight. Cato expert Chris Edwards explains here: Federal Reserve chairmen are famous for their opaque but sophisticated-sounding comments designed to make it […]
Setting Your Course for 2014
What I’m about to share with you is something I’d like you to share with or teach to your spouse. In 2008 some of the smartest guys in the room sat and watched as their mutual funds lost close to 50%. Meanwhile boring old Vanguard GNMA made money. That’s all the proof I need to […]
Retired Bus Drivers Lose $25 Million
Here’s another disgraceful example of public trust being kicked to the curb. In this case we have the former head of the MBTA pension fund Karl E. White. He left his job running the pension to work for a New York hedge fund. At his new post he was able to persuade his old friends […]
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