1.

The great value investor Michael Price passed away last week. He was a hard-nosed vulture who owned Mutual Shares Funds prior to selling to Franklin Templeton. I had the privilege to meet Michael at his office. His new firm wanted info on Presidential Life and management suggested they talk to me. Michael was tough and cocky and shared stories from his years of investing. Michael and I both owned a closely-held company named Seaboard which is why I followed his work closely. Sadly, “real” value investors are presently a relic on Wall Street…

2.

I cancelled my WSJ last week. I got tired of the one-sided stories flooding the paper. I’ve noticed the push about 6 months ago. I have never witnessed such a push for one narrative in the Journal. There are many sources I choose to read instead. Someday I will return; but it may take awhile…

3.

Did the US just lose reserve currency status by rejecting Russian use of dollars? This has the potential to be the biggest monetary news since the Eurodollar introduction in 1973…

4.

We bid adieu to pitchers hitting in the National League. To me, the best part of pitchers hitting was that they cared mostly about just making contact with the ball, instead of a DH swinging hard on every pitch. MLB needs to realize that baseball needs more contact and less home runs and strikouts…

5.

If the globalists really cared so much about the climate, when will we put an end to fast-food drive-thrus? Why isn’t this ever mentioned? It’s funny how they tend to overlook the obvious…

6.

Good news, bad news. My youngest daughter is going to 13th grade. Doesn’t sound so great does it? Well, Covid stole a high school year and a half of athletics from her, and she wants to build her school resume. She knows it will be a challenge because she will be attending the most rigorous of schools; the Phillips Exeter Academy in New Hamphire. Yes, it’s not necessary, but I feel this extra year will be well worth the investment…

7.

Interest rates are on the rise and we are seeing a bunch of 1035 exchanges from….Variable annuities. Let’s face it, many contracts have fees approaching 4% a year, for benefits policyholders will never implement. I think VA contracts will be flooded with surrender requests if rates tick up. Make sure you keep in touch with your VA policyholders. We can help you with your exchanges if desired. Give NestEgg Builders a call if your clients are tired of paying high fees on mediocre performance…