When I started this firm twenty years ago this coming April, I didn’t start
with a blank slate. I started this firm already possessing eight years of
experience in what not to do. Permit me to explain.
I started my career with an insurance agency that disguised itself as a
financial planning firm – never got a single client as I knew something was
seriously wrong – so I lasted six months. Turns out these folks were
selling stamp and coin “portfolios” for two to three cents on the dollar.
If you gave them $50,000 they would acquire a block of “valuable” stamps
and/or coins, actually worth approximately $1,500, then pocket the rest. As I
said I never got a client while there.
Several of the “agents” from that firm then branched off on their own and
as a computer expert they wanted me to go with them. At least these folks
were honest, but it was all insurance and no inv... (more)
This time of year is a favorite for children of all ages – I happen to be
one of these kids – in part because of the television programs that are
shown around Christmas.
A Charlie Brown Christmas, Santa Claus is Coming to Town, Rudolph the Red
Nose Reindeer, and How the Grinch Stole Christmas, have been favorites of
mine since TV went from exclusively black and white to poor quality color.
This is no coincidence as these programs were made in the mid 1960’s.
As I was watching this year, it occurred to me that if at this time in
history Christmas had not yet been established, if so... (more)
I am not sure the origination of this quote, but it certainly is timely:
"Hard work: All hard work brings profit; but mere talk leads only to poverty.
Earnings: Never depend on a single source of income.
Spending: If you buy things you don’t need, you’ll soon sell things you
Savings: Don’t save what is left after spending; Spend what is left after
Borrowings: The borrower becomes the lender’s slave.
Accounting: It’s no use carrying an umbrella, if your shoes are leaking.
Auditing: Beware of little expenses; a small leak can sink a large ship.
Risk-taking: Never test the dept... (more)
Juval Aviv was the Israeli Agent upon whom the movie, 'Munich' was based. He
was Golda Meir's bodyguard - she appointed him to track down and bring to
justice the Palestinian terrorists who took the Israeli athletes hostage and
killed them during the Munich Olympic Games.
He predicted the London subway bombing on the Bill O'Reilly show on Fox News
stating publicly that it would happen within a week. At the time, O'Reilly
laughed and mocked him saying that in a week he wanted him back on the show.
But, unfortunately, within a week the terrorist attack had occurred.
Juval Aviv gave ... (more)
Wealth Management on Ulitzer
These words remain very clear in my mind, but they were shocking to me (as
they probably are to you) the first time I heard them. In fact, when the man
made this statement to me, it took me so far aback, that he had to repeat
them. “I’m basically a whore,” he says sheepishly and with regret in
his voice. Of course I said, “What to you mean?”
The man who made this statement was the Michigan based marketing head of a
money management firm headquartered in Connecticut. He was responsible for
bringing new money into the firm for investment. He didn’t manage... (more)