“How old are you?” he asked. “50,” I said. “Let me tell you about money, kid.” “I’m 74. Sold my business in ’99. Made out real well. But that’s not the point. The guys were arrogant, didn’t understand New Englanders, and they had to shut it down. They’re a big international player. They’re fine. But […]
Investing
How Your Survival Guy Feels about CDs
Investors in deep blue states can take pleasure in knowing interest income from Treasuries is tax free on a state and local level—but that’s not the case for CDs. Also, Treasuries are backed by the full faith credit pledge of the federal government. Again, not so for CDs. Action Line: This is a wonderful time […]
Your Survival Guy’s Great Year Picking Some Lessons Learned
Let’s get this out of the way. If you’ve been with me, it’s been a great year. As I’ve said before, slow and steady wins the race and, just as important, finishes it too. For those tangled up in crypto, FTX, et al. the game is over—there’s no more time on the clock. And the […]
Vanguard Remembers Its Fiduciary Duty, Steps Away from Environmental Group
Back in March of 2021, Vanguard joined what is known as the Net Zero Asset Managers (NZAM) initiative, which is part of the United Nations’ “Glasgow Financial Alliance for Net Zero” (aka GFANZ). GFANZ is “committed to accelerating the decarbonization of the economy.” Raising environmental concerns above best serving customers could violate Vanguard’s fiduciary duties. […]
A Year-End Surprise Your Portfolio Could Do Without
A year-end surprise you don’t want to receive is a tax bill from your mutual fund. Over the years, I’ve soured on mutual funds. One reason is the lack of control. You don’t control when the fund manager buys and sells positions. It can be particularly painful when you get a year-end capital gains tax […]
Your Survival Guy’s Guide to Your Lazy Cash
Don’t look now but with prices gone mad you can finally get something for nothing with your cash. Look at this yield curve. Lots to love. Get your lazy money off the couch. Get it earning some money. If you need help let’s talk.
Your Survival Guy’s Christmas at Fort Wilderness
When I was a kid, we traveled across the country in a 21-foot Winnebago Brave (yes, we were). When I think about how we celebrated Christmas early to spend Christmas day at Fort Wilderness in Walt Disney World, it brings a smile to my face. Writing to you from New England, where snow has been […]
SPAC-TACULAR COLLAPSE: Billions in SPAC Deals Disappear
You’ve read that Your Survival Guy doesn’t invest in SPACs. The problem is that you invest, and they win. You take on risk, and the founders reap the rewards. Now investors in some well-known SPACs are suffering the consequences. Bailey Lipschultz reports on the recent SPAC failures, writing for Bloomberg: One of the SPAC industry’s […]
ESG, Richard Young, Jack Bogle, and You
Vanguard, one of America’s largest mutual fund companies, is, according to Will Hild in The Wall Street Journal, violating an agreement with the Federal Energy Regulatory Commission (FERC) by meddling in the affairs of regulated utilities with its ESG policies. Hild writes: Americans are paying sky-high electricity rates and companies like Vanguard are making the […]
Florida Dumps BlackRock in Fight Against ESG
You have watched state after state push back on ESG investing as money managers use their power over the funds to pursue increasingly political ends. Florida has now joined others in pulling money out of funds at BlackRock, the money manager best known for doggedly pursuing its green agenda using ESG fund power. Angel Au-Yeung […]
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