September 2020 Client Letter

As you plan for your retirement, or if you are already retired, what is your primary financial consideration? For many of you, the primary reason to save and invest is to provide income during retirement. From what clients have told me over the years, planning for retirement and actually being retired require two different mindsets.

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July 2020 Client Letter

If you thought the FAANG stocks were hot, check out silver. The FAANG stocks may grab the headlines in the financial press, but silver has doubled from its March lows. Gold prices have also been in an uptrend. Gold hasn’t rallied as much as silver, but gold is trading at a new all-time high, and it is up an impressive 28% YTD.

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June 2020 Client Letter

For over a decade, the reach for yield on Wall Street has been fervent, pushing some investors into making bad decisions. The insatiable thirst for yield spawned the slicing and dicing of mortgage-backed securities that led to a complex and confusing mess during the 2008 financial crisis.

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April 2020 Client Letter

Last month, I wrote to you about Ben Graham. Graham was a student of psychology and ahead of his time in behavioral economics. He recognized that investors were far from the calculating, perfectly rational actors many economists assumed.

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February 2020 Client Letter

A recurring theme surfaced as I was counseling several clients last week: how to maintain a consistent level of comfort with their money during retirement. If you are in or approaching retirement, you are keenly aware that the gig is up in terms of future earning potential.

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