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BITCOIN IS A GOOD DEAL

Well, I think this is a solid myth.  And I’m not going to go on and on and on like most financial blogs you see today; volume does not equal value.Here is the rub, as I see it: According to BitFarms (BITF), their breakeven cost of mining one bitcoin is US$2,259.   Today, one Bitcoin is …Read More


Straight-A Students Always Succeed in Life

Well, like practically any sentence with “always” in it, this is also a myth.According to organizational psychologist Adam Grant, “If you succeed in school, you’re not setting yourself up for success in life . . . academic excellence is not a strong predictor of career excellence”Personally, I like this premise because I was a mediocre …Read More


Families are Penalized by the new Tax Laws

This is a solid myth.  If you have children there is a substantial gift tucked into the Tax Cuts and Jobs Act of 2017, despite the record-breaking deficits and debt it is already creating.  Here are the details, straight from IRS. Credit amount. The new law increases the child tax credit from $1,000 to $2,000. …Read More


You Get What You Pay For With Asset Management Fees

Well this is a solid myth. At Fidelity’s Inside Track conference in New York City this week, Ron Carson (of $10 bil. asset firm Carson Group) admitted as much by stating the assets under management (AUM) business is only worth 0.2%.  That is, if you have $1.0 mil. being “managed” by an adviser, you should …Read More


It Is Possible To Get “Neutral” Advice

In their 10-year-old easy-to-read book, “Nudge, Improving Decisions About Health, Wealth and Happiness”, Nobel Prize winner Richard Thaler and Cass Sunstein describe “choice architects” (of which I am one) and the drivers behind their recommendations.But before I give those details, in my substantial experience part of the impossibility of giving “neutral” advice is that there …Read More


Your Eyes Reveal Whether You are Lying or Telling the Truth

 This myth is still being bandied about by “experts” in fields from management to law enforcement.  The myth is that if a right-handed person looks up and to the right while speaking then they are lying.  To the left, they are telling the truth.  This scientifically controlled study, however, showed no relationship between lying and …Read More


It’s Impossible to Find Socially Responsible Companies

This is absolutely not true, as Sustainalytics demonstrates in this article that appeared in ThinkAdvisor magazine.  Socially responsible investing (SRI) has evolved into ESG investing which is more relevant, I think.  ESG stands for Environmental, Social and Governance (that is, corporate governance).  An ESG screen is proven to reduce future volatility.https://www.thinkadvisor.com/2018/02/26/use-these-10-esg-factors-to-avoid-riskiest-investm (this link works for …Read More


IT IS EASY AND SIMPLE TO EVALUATE ADVISERS AND THE FINANCIAL STEPS THEY RECOMMEND

I must confess at the outset to a bone-deep weariness of this pervasive myth.  It is dangerous.  It is ignorant.  It is inaccurate.  And, more importantly, it is self-destructive to the average investor.  This myth compares quite aptly to racism and sexism, which are uneducated snap judgements of others based on sheer irrelevancies such as …Read More


The Dow’s Largest Percentage Drop in History is Significant

Well, it isn’t.  I would love to use scare tactics to convince all my fence-sitters to finally move their money.  But I refuse to exploit the worst two investor motivators:  fear and greed.  What I do seek for my clients is happiness, lack of stress & confidence in their future ability to meet their budgets.Yes, the …Read More


The Tax Cuts and Jobs Act of 2017 will boost 2018 economy

I don’t know if this is a myth or not.  But I do know that piling on the Federal debt is an economy killer if done capriciously rather than as a recovery tool.  This time it’s utterly capricious. In anticipation of the trillion dollar manna from the Treasury that this bill will create, financial companies …Read More