1. I'm approaching 60, and this by far, is the most ominous environment I have experienced. Something is brewing underneath the surface. In my opinion, I think the western worlds are losing control of their currencies due to reckless debts and entitlements. I hope I'm wrong. It seems as if the fabric of our [...]
1. Markets are plummeting. Now what? What has happened in the past? Our fireman is The Fed. And actually, The Fed is also the fire starter. Wait for it; The Fed steps in soon and stops the tightening and rate increases. By the end of the year, expect more QE and rates lower again. [...]
1. I think the buffet-type annuities had more merit a few years ago. Downside protection of 10%? Really? That’s enough protection for you? For the record; I purchase gold coins with a sales charge of 7% and I don’t think twice about the fee because the gold upside/protection is substantial. Very substantial in my [...]
1. When a central bank is purchasing the vast majority of sovereign bond issuances well below market rates, it is incentivizing reckless indebtedness and forcing savers to go to riskier assets. Both are negative outcomes of QE that completely outweigh the questionable benefits. 2. Where were you September of 2008? Do you remember how [...]
1. The Treasury defended the IRS rule requiring banks to report all transactions over $600. So, they want to do away with all of our small banks. What's the goal here? It looks like more centralized control going on here. Cash will soon be a casualty. Say hello to a digital currency. 2. Once [...]
1. I'm a big fan of fixed index products (FIAs) in NY. But clients often equate their holdings with an investment. As an advisor, make sure you stress the guarantees and not the stock market. FIAs are fixed products with a "stock kicker," or maybe an account with some inflation protection. The product absolutely [...]
1. The 1st step into making baseball exciting again: stress more stolen bases. Those damn computers have determined that the cost/benefit calculation doesn’t work for stolen bases. That’s nonsense. Pitchers should be called for balks if they cross that imaginary first base/home plate line. Call the balks. And let us enjoy speed on the [...]
1. The fall is coming. Tis the season for market volatility. Whenever we're in an overpriced stock market, I tend to get nervous. Markets are full steam ahead after Powell spoke. This makes me nervous too. It will be interesting… 2. Many seniors still have a ton of cash earning nothing; literally nothing. Funds [...]
1. Think of the trillions of dollars sitting in bank accounts earning less than 50bps. Savers have sat with their funds earning nothing for a decade. Be a hero and contact your senior clients on moving funds to a fixed annuity or Legacy Matters products. Some funds cannot be moved into volatile investments. Keep [...]
1. I go to San Diego for 8 days and go out every night for dinner. Every night I asked for a summer beer. How many times did the establishment have a summer beer? The answer is zero. More proof that So. Cal. does not have 4 seasons… 2. Here's a very simple rule [...]
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