The failure in Washington is disappointing, if not a surprise. However, history tells us it is not necessarily a bad thing for investors. The 16 government shutdowns over the past 37 years, which have ranged from one to 21 days, have not been particularly negative for stock market investors, averaging only 2% decline for the S&P 500. More importantly, from a longer-term perspective, they preceded above-average returns. The S&P 500 Index has risen…
In our experience, people tend to look at the stock market in one of two ways. Most people see the market like this, and they are absolutely correct ………….
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Some foundational quotes from the Great Fathers of our nation. Many of the ideas that we espouse, aspire to, attack and fall short in reaching today are already evident at the beginning. Celebrate our freedom and independence this weekend and have a great holiday!
When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth ……
There are some very basic things about investing that few people ever seem to fully grasp. The most obvious is that investing at low prices is better than investing at high prices. I should be able to end this piece here and let you figure out the implications, but since they seem so little understood I feel compelled to explain some.
Celebrities are usually just a little below gambling winners on the “Who you should not take financial advice from” scale. But like all of us, they get older and sometimes even wiser. Money Magazine ran a piece recently featuring answers to questions about money from famous people who are not so young any more. Here is a sampling of their views on money:
The first beneficiary of Social Security was Ida May Fuller in 1940. Though she had only paid in a total of $24.75 over three years of taxes, her first monthly retirement benefit check was $22.74. Over Ida’s lifetime she received income of almost $23,000, an amount approaching 1,000 times what she put in.
The mortgage insurance company, PMI Inc. did a study of real estate booms and busts in the past to see how long some previous downturns have lasted. They looked at three boom markets: Houston in the ‘80s and Los Angeles, and Boston in the‘90s. Here is what they discovered.
Sometimes money costs too much. – Ralph Waldo Emerson
There are so many parts of my work that I like that it is hard to pick one favorite. One of the consistently most interesting parts is the interplay between our values and our money. What will we give up for money, and what truly is priceless?
"We were comfortably well off, and we wanted to release some of the funds we had tied up in our home." – Mrs. Carolann Prast explaining why she and her husband took out a reverse mortgage on their home. – The Wall Street Journal 11/13/2007
I have become somewhat of an expert on reverse mortgages, not by any deep knowledge I have of the products but because so few people understand them at all. I recently told the Los Angeles Times:
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