How to fail

  By Guest Blogger Sinan Terzioglu

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As Garth says, most people suck at investing.  We become too emotional – fearful of losing and not having enough money for the days ahead.  We make feelings-based decisions and all too often get in our own way.  If markets were open only once a month and prices weren’t constantly available most of us would have a much better chance of achieving average long-term  returns.  But because of behavioral biases, we buy high, sell low and underperform by a wide margin. The longer the time horizon, the worse things get.

‘Investing’ means focusing on the quantity, quality and timing of cash that will be returned to you from your holdings. ‘Speculating’ is worrying what other people will pay you for your holdings.  Speculators fret over how other market participants will act and as a result engage in a greater-fool world.  Sadly, most market participants today are speculators. They’re easily distracted and focus on ridiculous things that in the long term have no impact on the intrinsic value of quality businesses.

Fidelity Investments looked at which customer accounts do the best and concluded they ‘re those of people who’ve forgotten they have an account! Similarly, some estate planners have noticed families leaving inherited assets untouched for 10 or 20 years while they work out their issues later found that those years were the best periods of performance.  The terrible investment decisions so many people make end up destroying their finances.  Investing is far from simple but it can become a lot easier if one is able to develop the right temperament.  Constantly checking quotes is unproductive and only increases the probability of making emotional decisions.  Most people use the last traded price of a security as their only feedback mechanism and rarely think about the underlying economic fundamentals of the companies they’ve invested in.

Years ago a guy approached me for help with his investing approach.  He was running a one-person business and had done quite well.  But he’d become frustrated with his investment results and was starting to realize he could have done much better over time if he’d just stayed the course and thought long term.  He was constantly checking his investment accounts – in a great mood when the markets were up and miserable when they fell.  He made all the mistakes most individual investors make by getting in his own way.

I used the following analogy that helped him develop the temperament he needed:

“Imagine every hour for the next few years a random person approached you off the street, offering you a price to buy your business.  Some days the price is great and some days the price is ridiculously low.  Let’s assume you earned $100,000 in operating income last year and over the last 10 years that’s grown an average of 7% annually and you have every reason to believe the growth will continue over the long term as the economic fundamentals of your business continually get stronger.  Some years may not be as good but most years will be very profitable.

“Now, imagine you have the TV on and see an announcement that the US Fed has raised interest rates and a bunch of economic data has missed expectations. Sentiment is plunging. Would you walk out onto the street and look for someone to sell your business to?”

Needless to say, he thought that would be ridiculous and a light went off in his head.  He stopped paying attention to the fear in the media and the constantly changing market quotes. As a result he wasn’t distracted any more.  He was able to think like a business owner (which an investor really is) greatly reducing his stress and significantly improving his long term results.

Any individual investor wanting great portfolio results must develop the proper temperament.  If you can’t, then hire a good investment advisor. I may know one.

Sinan Terzioglu, CFA, CIM, is a financial advisor with Turner Investments, Private Client Group, Raymond James Ltd.   

 

52 comments ↓

#1 Another Deckchair on 07.21.19 at 3:14 pm

Sinan;

Thank you for this, and for all Turner Investments does to help by supporting this very informative blog.

While we do look often at how the daily ups and downs reflect on our investment bottom line, I don’t do much, other than agree that fear (of monetary loss) is a strong emotion. ;-)

We do keep a spreadsheet, updated every 3 months of “asset values”.

The most impressive rows are the “change in 3/6/12 months” rows.

We’ve found that, by looking backwards, it has since we started shown an increase, and the smoothness increases when looking at longer timeframes.

#2 Paddy on 07.21.19 at 3:24 pm

Hey Sinan! Long time no post….where ya been? Garth, Doug and Ryan have been hogging the spotlight. I remember reading somewhere that the best investors are dead people…… because they don’t tinker with their portfolios.

#3 Shawn Allen on 07.21.19 at 3:36 pm

Tracking Investment Performance

‘Investing’ means focusing on the quantity, quality and timing of cash that will be returned to you from your holdings.

‘Speculating’ is worrying what other people will pay you for your holdings.

***********************************
Very true. Excellent and timely article.

Notice that by law, investment performance focuses on “what people will pay you for your holdings”. There are increasing legal requirements to show you the change in market value of your investments over time and the compound annual total nominal return over periods of time. Experts can now get a certification in how to calculate this figure with the greatest precision.

There is no requirement to show you what component of return came from dividends versus realised capital gains/losses versus unreleased capital gains/losses.

Does ANY Canadian broker or advisor show you the total earnings or cashflow of your portfolio and how that has changed over the years? What about even the average P/E ratio of your portfolio of equities?

The entire investment industry and the regulators are approximately 100% focused on the daily and periodic changes in what others will pay you for your investments.

Even the FED and the President are very concerned with the day to day level of the stock market index. Strange days indeed.

No wonder almost 100% of investors are speculators now.

#4 Phylis on 07.21.19 at 4:01 pm

Nice pic of the award winning advert campaign.

#5 Sail Away on 07.21.19 at 4:02 pm

A counterpoint to the buy and hold discussion: don’t buy crap. I’m consolidating an elderly relative’s stock holdings and am sorting through over a dozen certificates from 1970s-era Vancouver-based junior mining ventures. They’re all gone now, and the majority seem to have gone bankrupt.

Was there a public sentiment to buy from these sketchy hucksters in the 70’s? If that same investment ($9,000) had been made in the index in 1974, it would be worth around $190k today.

Case in point about beating yourself, I guess.

#6 Van condos on 07.21.19 at 4:14 pm

Hi Garth, do you keep saying van is gonna crash! I’m not talking British properties or over priced west van houses.
I’m talking condos in the sky downtown van! Look whaf it costs for a decent 2 bed 2 bath 1200 sq ft? That’s gonna crash? When? They haven’t dropped a penny yet! I know you breathe In Ontario air but come on give your head a shake!!!! Your a dreamer if u think condos are gonna crash downtown van!!!!
Condo queen

#7 "We have recently switched to drinking water bottleswhen we have water bottles out of a plastic, sory away from plastic water bottles towards paper-like drink box , water bottle sort of things" on 07.21.19 at 4:19 pm

Vote for me, Gerald Butts is back.

#8 Hogtown Harry on 07.21.19 at 4:24 pm

As the great Warren Buffett said, you make money sitting on your hands. The same applies to real estate. I know immigrants in Toronto who bought in little Italy in the 50s and have never sold. Probably paid between 10-15k back in the day and these homes are now worth close to 2 million and north of 2 million if they have been renovated. Not a bad return for living there for 60 years…

#9 Grunt on 07.21.19 at 4:27 pm

Investing for most means setting aside funds for monthly contribution. This now has to compete with easy click internet shopping. A few years ago your condo security desk didn’t look like a post office substation. That’s where most folks funds are evaporating – Amazon deals on disposable junk. Instead of being Wisely & patiently channeled into RRSPs or TFSAs. Kind of like Garth dropping 30K US into a Harley Davidson LiveWire. It might get him 0-100 Km/hr in 3:0 seconds but the investments gone.

#10 Alessio on 07.21.19 at 4:30 pm

Although I agree with you and you’ve somewhat described me and what I do with my individual stocks (I stay the course on my balanced ETFs), the world we live in today with all the fake money printing has inflated unprecedented market expansion. If all blows up we could face a decade before recovering. It’s the everything bubble afterall. That’s what worries me. We’re in uncharted territory. Everything is fake.

#11 NoName on 07.21.19 at 4:56 pm

#1 Another Deckchair on 07.21.19 at 3:14 pm
Sinan;

Thank you for this, and for all Turner Investments does to help by supporting this very informative blog.

While we do look often at how the daily ups and downs reflect on our investment bottom line, I don’t do much, other than agree that fear (of monetary loss) is a strong emotion. ;-)

We do keep a spreadsheet, updated every 3 months of “asset values”.

The most impressive rows are the “change in 3/6/12 months” rows.

We’ve found that, by looking backwards, it has since we started shown an increase, and the smoothness increases when looking at longer timeframes.

I’ll tell you what’s even more impressive, use your excel spreadsheet, make a pivot table and pivot chart and play with it. Maybe in time you make interactive dashboard.

(Something what I am unsecsesfuly trying to do this weekend). I mean I have something that works but just look ofuly and ugly.

#12 TurnerNation on 07.21.19 at 5:35 pm

Finally, Smoking man’s folliclly optimized buddy is back.

#13 Van realtor on 07.21.19 at 5:55 pm

#6 condo queen
You nailed it girl, Garth and crew are into the legal weed for sure they should come out to bc and try our great legal bud, condos are not dropping downtown van ever,
How can they? Garth has been mentioning the van crash for what 10 years now?????
Remaxking

#14 april on 07.21.19 at 6:01 pm

# They have dropped and will continue … who are you trying to kid?

#15 Nonplused on 07.21.19 at 6:51 pm

Seems to me there are a few other areas of life where “over trading” can be very costly as well.

For example trading in the wife can be very expensive, ruinous even. You want a buy and hold strategy here. So do your research first. It definitely helps to really get to know your future mother in law really well before making any decisions because your potential wife will be just as crazy as her mother when she gets older. Like sins, these things are visited upon the children to the 10th generation.

Cars are also a very expensive thing to trade in too often. The best strategy is to buy a 2 year old lightly used car and run it until the wheels fall off. That way you get at least a 30% discount off new and the sweet spot for economic driving is usually years 5 to 10 when the car is paid off and owes you nothing but yet is still fairly reliable. But once it’s over 10 years old it isn’t worth fixing if anything major goes wrong so when the tranny blows or it starts smoking time to call the Kidney Foundation. However if you own a Toyota you could be waiting another 10 years and 150,000 miles for that to happen. But oh well, that also is another 10 free years.

Still with cars, don’t buy a BMW, Mercedes, Porsche, or anything like that unless you have money to burn (why are you still working?). They are endless money pits as they age. It’s not that they necessarily break down that much more than the average car, but everything costs three times as much to fix. And this is usually reflected in their resale value, which plummets much faster than say a Toyota.

Home renovations are almost always a loser as well. You’ll be spending a lot of money and suffering a lot of inconvenience for improvements that most people just won’t pay for. For example if you spend $20,000 on a new 2 car garage, you’ll probably only get $10,000 back out. $40,000 to upgrade the kitchen might get you $15,000 out. People just aren’t going to pay a lot for your take on modern decor. Plus after all that inconvenience you’ll have to move for some reason anyway, so someone else will enjoy the results of your suffering and expense. Like maybe your ex-wife’s new boyfriend.

Motorcycles are exempt from this list because you have to have one. But they also plummet in value, perhaps faster than cars, so only buy one and keep it for ever. Very few people actually put enough miles on their motorcycle to wear it out.

Boats are of course right out. As the say goes “if it floats, flies or (cough cough), rent it”.

Expensive fancy RV’s are usually a complete disaster. Well all RV’s are but there is a difference between buying a $30,000 trailer and using it for 10 years and a $180,000 motor home and using it for 2 years. You’ll lose $60,000. That’s a lot of hotels. Nice ones. Airplane tickets too. Could the average person even spend $60,000 on hotels and flights in 2 years? I think you’d have to be pretty creative.

#16 EnnDeePea on 07.21.19 at 7:27 pm

Yesterday gold pumping and today buy and hold.

Garth says to sell and rebalance often though.

#17 Newcomer on 07.21.19 at 7:47 pm

Thank you. I hadn’t heard it put that way before. As a business owner, that makes a lot of sense.

#18 Shawn Allen on 07.21.19 at 8:01 pm

Missing the Point

#5 Sail Away on 07.21.19 at 4:02 pm

A counterpoint to the buy and hold discussion:

*******************************
The article is not suggesting buy and hold. It suggests investors look at the earnings and performance of the business rather than at its stock price fluctuations. No mention of buy and hold.

#19 wallflower on 07.21.19 at 8:01 pm

#5 Sail Away on 07.21.19 at 4:02 pm

I have stock certificates in the multitudes from early 1900s…. Unbelievable the amount in today’s dollars.
Maybe they have museum value?

#20 Vampire Studies (doctoral thesis) on 07.21.19 at 8:41 pm

15 nonplused

“because your potential wife will be just as crazy as her mother when she gets older.”

Agreed on this and many other points.

#21 Leo Trollstoy on 07.21.19 at 8:42 pm

Apparently I wanted to read a grade 7’s report on Warren Buffett analogies today

#22 Graphics Girl on 07.21.19 at 8:45 pm

I think checking your investments weekly is good. It gives you a perspective on the trends. My gold ETF is up significantly. What’s going on there? A sign of a recession?

#23 salonist on 07.21.19 at 8:55 pm

Nonplused

https://www.youtube.com/watch?v=WwRrKaq0IyY

https://www.youtube.com/watch?v=Hx24WZ8Cf78

#24 hans on 07.21.19 at 9:03 pm

This guys alright.

#25 Shawn Allen on 07.21.19 at 9:22 pm

#21 Leo Trollstoy on 07.21.19 at 8:42 pm

Apparently I wanted to read a grade 7’s report on Warren Buffett analogies today

***********************
Rude. Ask for your money back. Also “Mr. Market” was popularized by Buffett but “invented” by Benjamin Graham.

Also, one can never read the simple wisdom of Warren Buffett / Benjamin Graham too many times.

#26 Sail Away on 07.21.19 at 9:24 pm

#18 Shawn Allen on 07.21.19 at 8:01 pm
Missing the Point

#5 Sail Away on 07.21.19 at 4:02 pm

A counterpoint to the buy and hold discussion:

*******************************
The article is not suggesting buy and hold. It suggests investors look at the earnings and performance of the business rather than at its stock price fluctuations. No mention of buy and hold.

—————————–
From the post:

“Fidelity Investments looked at which customer accounts do the best and concluded they ‘re those of people who’ve forgotten they have an account! Similarly, some estate planners have noticed families leaving inherited assets untouched for 10 or 20 years while they work out their issues later found that those years were the best periods of performance.”

I assume these are buy and hold, no?

#27 Mike on 07.21.19 at 9:26 pm

Good article. Write more!

#28 Shawn Allen on 07.21.19 at 10:02 pm

Buy and Hold…
Sail Away at 26

You are right the article covered buy and hold as well as thinking like a business owner. My mistake.

#29 Sail Away on 07.21.19 at 10:46 pm

#28 Shawn Allen on 07.21.19 at 10:02 pm
Buy and Hold…
Sail Away at 26

You are right the article covered buy and hold as well as thinking like a business owner. My mistake.

————————————

Wow, accepting an (admittedly slight) error on a blog? This is totally unexpected behaviour. Don’t you know you’re supposed to create a strawman, insult my intelligence, and revert to ad hominem attacks?

You’ll do well in life, my friend.

#30 Sail Away on 07.21.19 at 11:07 pm

Pertinent to today’s post is the phenomenon of beating yourself. Malcolm Gladwell wrote about this, using tennis as an example: the professionals would lose when they were beaten, but amateurs would invariably beat themselves through unforced errors, choking, or bad decisions.

Charlie Munger says you shouldn’t to be brilliant, but rather not stupid when picking stocks.

The bar for investing success is not too high if you can avoid defeating your own human nature.

#31 Smoking Man on 07.22.19 at 1:07 am

Sinan Terzioglu, nice to see you get off your ass and finaly contribute again.
Dear God, how does one pronounce you’re last name.

I agree emotions are an investors worced nightmare, that’s why I always push learning to code.

Have you guys invested in machine learning yet?

It’s amazing…

#32 Smoking Man on 07.22.19 at 2:31 am

Kids your teachers lied.

My future.
https://youtu.be/Za9YMxLKH-A

I love it

#33 Nonplused on 07.22.19 at 3:20 am

#23 salonist

Ha ha those were funny even though I generally don’t go for modern country. (I like old style country though.
They honky-tonk stuff.)

It might be “cheaper to keep her” but that is short term thinking. That is like holding on to a losing stock that is clearly headed for disaster. Or bit coin. Don’t throw good money after bad. Plus there is sanity to be considered.

Folks, most men don’t do this, because we have been trained since we first learned to understand language and the true purpose of a wooden spoon that if there is a problem in the marriage it’s daddy’s fault. That may be the case, men are jerks. But maybe you can’t do any better. Maybe that’s as good as you can be. Maybe you aren’t a Gillette commercial cast member. If you are going to have to exit one day, do it now while you still have some time to rebuild your own finances.

There is absolutely no reason for a woman to demand that you don’t go fishing if the lawn is mowed. Unless she is crazy.

#34 Sandra Solomon on 07.22.19 at 5:42 am

BANNED

#35 Catalyst on 07.22.19 at 7:41 am

While an accurate and important point this post makes, you’ve got to work on the badassity and sexiness this blog dog has come to expect. No one can touch Garth’s writing style but even lewenza is getting friskier.

#36 dharma bum on 07.22.19 at 8:10 am

One of the most important aspects of achieving long term success. happiness, and peace of mind, is to stay the course and simply tune out the noise.
Ever since I got rid of my cable television, things have improved drastically.
One comes to the realization that virtually everything that is reported and advertised in the main stream television media is absolute bullshit, and even if it isn’t, it has pretty much no bearing on your life (or your investments).
The more crap you ignore, the better off you’ll be.
I’m talking mentally, spiritually, financially, and physically.
As far as the markets and my investments are concerned, they’re all way up over the last 10 years.
What, Me Worry?
Tune out the noise.
Ignore the babble.
Read books.
Watch movies and documentaries.
Listen to music.
Enjoy podcasts.
Take walks.
Do yoga.
Go on a road trip.
Paint your house.
Build something.
Do anything but watch TV, listen to commercial radio, or read newspapers.
It’s all fake.

#37 suburban coyote and pup on 07.22.19 at 8:38 am

Thanks for a wise column Sinan. I have a good friend who uses Vectorvest to manage her modest portfolio. she spends hours researching, tracking, obsessing and trading every day. I estimate 700-1000 hours a year for a 5-6% return and many nights of no sleep. I just dont understand why someone would do that to themselves….

#15 Nonplused agree with everything you said, with some caveats around class B RV. Get a low mileage older Roadtrek, Pleasureway, Leisure Travel and they hold their value. Our american cousins love em too… I haven’t done this yet but was considering buying one 10-12 years old use it for a couple of years and then sell it in USA where they are often more $ plus exchange rate… anybody know if that is allowable?

#38 Sinan Terzioglu on 07.22.19 at 9:11 am

#8 Hogtown Harry – You are correct as Buffet says the big money is made in waiting but only if purchased at a fair valuation. Buying real estate today at 10 times average income levels is not going to achieve nearly the same result as the past 30+years when people were able to buy at 3 times average income levels

#39 Sinan Terzioglu on 07.22.19 at 9:31 am

#30 – Sail Away – One of my favourite investing quotes from Charlie Munger “it is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent”. Buying at fair valuations and holding high quality indexes that includes the most profitable corporations earning consistent economic profits (rate of return above cost of capital) are going to produce very solid returns over the long term – Sinan

#40 IHCTD9 on 07.22.19 at 9:33 am

#34 Sandra Solomon on 07.22.19 at 5:42 am

BANNED
___

That was quick.

#41 LP on 07.22.19 at 9:36 am

#33 Nonplused on 07.22.19 at 3:20 am

There is absolutely no reason for a woman to demand that you don’t go fishing if the lawn is mowed. Unless she is crazy.

*******************************************

Hah Hah indeed! I wouldn’t “demand” it, but would politely ask that he bring coffee to the dock where I will have been fishing while waiting for him to finish mowing the lawn. ;>)

#42 IHCTD9 on 07.22.19 at 9:59 am

#36 dharma bum on 07.22.19 at 8:10 am
___

That is some very good advice.

“No man is free who is not master of himself.”

― Epictetus

#43 Lizard Man on 07.22.19 at 10:05 am

Why Many Global Investors Fail

https://seekingalpha.com/article/4276407?source=ansh $NOBL, $AAPL, $AMZN, $GOOGL, $MSFT, $SPHQ, $XOM, $SPLV, $USMV

All stock portfolios win every time. It’s not rocket science.

#44 Tony on 07.22.19 at 10:09 am

Re: #3 Shawn Allen on 07.21.19 at 3:36 pm

Everyone in the worldwide stock markets today with the exception of maybe Russia are 100 percent speculators no matter what their holdings are. The clowns chasing yield with dividends will find out what happens when the big kibosh hits as all dividends will be slashed wholesale right across the board. The ones that will survive will be the day traders.

#45 Another Deckchair on 07.22.19 at 10:53 am

for #7, “..We have switched, err…”

There’s absolutely nothing (repeat, N O T H I N G) to tie G. Butts to the following song (of course) but, somehow for some unknown reason last night your posting reminded me of this song:

https://www.youtube.com/watch?v=monyiOsoKxg

(Jarvis Cocker, “Running the World” – google if you just want the lyrics)

Heard it at the end of the movie version of P.D. James “Children of Men”, and, gosh, I have no idea why it popped into my head after 10+ years when I saw the movie. Brains work weird they say, or, cosmic ray scrambled thoughts, or something.

#46 JB on 07.22.19 at 11:08 am

#31 Smoking Man on 07.22.19 at 1:07 am

Sinan Terzioglu, nice to see you get off your ass and finaly contribute again.
Dear God, how does one pronounce you’re last name.
I agree emotions are an investors worced nightmare, that’s why I always push learning to code.
Have you guys invested in machine learning yet?

It’s amazing…
…………………………………………………………………….
#82 Smoking Man on 05.15.17 at 9:51 pm

I’m about to unleash smoking man on the real world of linkedin.

My real name is Jim Stojsin.

Dogs . Connect for some great self destruction and a re birth doing what I love. Pumping out truth with one thumb.. Garth stop protecting me. They don’t want me anymore.
The machine don’t like old fks with a brain.
It’s time for revenge.
……………………………………………………..
Dear God we have been trying to figure out the same thing for your real name Smoking Guy.
HTF do pronounce this amalgamation of letters?

Stojsin????

#47 Lillooet, BC on 07.22.19 at 11:21 am

Hi Sinan Terzioglu:

have you stopped blogging a few times in the past few months? Like to read blogs from your perspectives. Thanks

#48 Westcdn on 07.22.19 at 11:41 am

Isn’t a great time to be alive! If nuclear war doesn’t get me then climate change will or, at best, I will end up dumpster diving because I thought I was special when it came to investing. God, there is so much negative energy. What happened to doing basic things well and having pride for positive results for others? There are lights in the darkness.

My BIL took me on a canoe trip across the Ottawa River from their “cottage” near Arnprior – we stayed to too long and were paddling back in complete darkness and were lost. We saw a waving light to guild us in and in was my MIL who send hours on float waving a lamp in the general direction where she thought we were – after all my BIL was her son. My BIL thought himself a hero for protecting me – kind of reminds me of Trump. We were in no danger except from embarrassment.

I was thinking of writing a skit were Trump get a stomach ache from eating Big Macs. There is a red button on his beside to summon his doctor but he hits the button to launch nukes instead – the legend in his own mind is something he shares with many in power. I just want to remind common folk they are can be better – cheating systems is not beneficial because it in the long run it destroys them and society. Yet we think we are smart by screwing over others – reap what you sow; unfortunately, only a few eat what they kill (like my former cat and wife).

I take no pride in putting others down or harming then for my benefit to win. Let’s just say I am no fool and can do what has to be done. I will never forget my Dalmatian or my last cat that came into my life – animals are more than things, yet, if I had to, and need to feed family … but I will fight first and I keep relations with animals to a minimum. Tropical Thunder was a cartoon movie that I enjoyed – Les Grossman (Trump) amazed me, even more when I found out it was Tom Cruise.

https://www.bing.com/videos/search?q=les+grossman+youtube&view=detail&mid=ABB6BEBA43952A3613B8ABB6BEBA43952A3613B8&FORM=VIRE.

I think that crypto is just a digitized version of precious metals – something that’s harder to tax by government. Gold is something that can’t be created out of thin air and is harder to get. Real Estate is not portable but investments are – good luck getting the mix right. I am saving my dead soldiers for a possible capital gains tax change – such a fun game with the push to tax wealth. Let’s put it this way, the plebs will not win. I still prefer having a tax problem than not.

I tire of the number of people who want others to be their water carriers – Gunga Din. It is sad when cheating rewards better than honesty but that is nothing new. Today’s laws make it easier for “some”. So, some don’t think they will ever have to answer for what they do or don’t. Reminds me of a cleric who would throw the day’s collection into the air and say “God will take what it wants and I will keep the rest”. Or then there are Trump negotiations which start with “What is mine is mine, yours is negotiable”.

One thing I have learned about being long is that many juniors only pop a few days of the year. Trust people that have integrity – hard to find and things change. Sales people have ripped me off too often so I now ignore the noise and make my own decisions and own up. I am now happy with my dividend income so I can start speculating again. I do live a modest lifestyle. It is amazing the number of good people I met while rebuilding my fence and meeting the people who are going to the community garden. Security is not high on my list in this community although like anywhere there are thieves of opportunity, usually the teenage kind.

The fence I am building is a façade to appease given the junk I had before. Digging the post holes by hand and back was hell but I got a lot of sympathy and advice. I will not serve as an Agrippa to a men-child.

#49 IHCTD9 on 07.22.19 at 12:56 pm

#41 LP on 07.22.19 at 9:36 am
#33 Nonplused on 07.22.19 at 3:20 am

There is absolutely no reason for a woman to demand that you don’t go fishing if the lawn is mowed. Unless she is crazy.

*******************************************

Hah Hah indeed! I wouldn’t “demand” it, but would politely ask that he bring coffee to the dock where I will have been fishing while waiting for him to finish mowing the lawn. ;>)
____

You guys are doing it wrong.

The KIDS mow the lawn.

#50 Sam on 07.22.19 at 2:28 pm

self serving entry, not impressed. The author could have touched on Advisors that put clients in mutual funds with high fees , DSC charges etc. The ugly side of the advisory arm.

we need financial education in this country at the high school level, dsperately. Investing isnt hard and it takes 10 min to open a TFSA account online and fund it wth a low cost etf. Beyond crazy that budgeting/savings/investing is not part of our school curriculums. Sad sad sad ….

(highest mf mer’s on the planet?…good old Canada)

Why would we write about things we don’t do? This blog has dissed mutuals often, with cause. – Garth

#51 jess on 07.22.19 at 2:50 pm

so ask yourself why is this company still in business?

“Equifax put profits over privacy and greed over people, and must be held accountable to the millions of people they put at risk,” said Attorney General Letitia James. “This company’s ineptitude, negligence, and lax security standards endangered the identities of half the U.S. population. Now it’s time for the company to do what’s right and not only pay restitution to the millions of victims of their data breach.”

———–
the Accountable Capitalism Act, a plan for economic patriotism, and a proposal to jail CEOs if their companies behave badly.

#52 SunDays on 07.22.19 at 3:03 pm

The blog entry’s picture is missing the puppy:
https://nypost.com/2017/05/29/pissed-off-artist-adds-statue-of-urinating-dog-next-to-fearless-girl/

angry girl = mutual funds
cool puppy = ETFs