July 2019 Client Letter

You may have concerns about today’s environment and how a variety of risks could impact the long-term health of your finances. One of the biggest concerns we all face is interest rates that have been so low for so long.

Jim Grant writes in his Grant’s Interest Rate Observer newsletter, “almost $13 trillion in debt world-wide is priced to yield less than nothing. Mostly, it’s just a little less than nothing, but, still, a little less than nothing isn’t much to retire on.” He calls this a 4,000-year low in bond yields.

Read More

June 2019 Client Letter

The first half of 2019 is over, and the current investment environment appears more uncertain today than it was at this time last year. While it’s difficult to judge how the remainder of the year will play out, we’ve decided to hand out letter grades to some of the current storylines that may impact financial markets and your investment portfolio.

Read More

May 2019 Client Letter

Would You Rather Have $1 Million or a Penny That Doubles Daily for 30 Days?
Long-time client Tom recently emailed me the following question and answer. I have seen various versions of this in the past, and I always enjoy rereading it. This piece appears to have been from the company Grow, www.grow.acorns.com, which has partnered with CNBC to deliver educational features on developing successful money habits.

Read More

April 2019 Client Letter

As you know, we are fans of the simple but effective strategy of compound interest. Compounding is the process of using your dividends to buy more shares of the company that just paid them to you. Over time, the act of continually reinvesting dividends creates a snowball effect in which your initial investment grows exponentially.

Read More

March 2019 Client Letter

For over 30 years, investors subscribed to Richard C. Young’s monthly investment strategy report, The Intelligence Report (IR), for advice on how to become more comfortable and consistent long-term investors.

Read More