Both debt buying hedge funds I managed did well; the first significantly better than the second. More important than the money was the experience I gained. I know the intimate details of buying, selling and collecting debt.
And I have contacts.
When I ran across the John Oliver video I had to watch. Nothing much has changed since I ran those halls.Read More
It is easy to get spoiled living in the backwoods of Nowhere, Wisconsin. Cool, crisp mornings and fresh food straight from the garden. Food we don’t grow ourselves is frequently purchased from neighbors who do grow it.
As you can imagine, the cheap quality fast food peddled in urban areas these days does not live up to the bill. Even the so-called high end (and expensive) restaurants just don’t compare to what we grow and prepare ourselves.
Going out to eat is not a treat; it is something we do when home cooked meals are not an option.Read More
It is temping to think you know more than you do when your stash grows. Success gives the illusion of intelligence. When the crisis arrives the illusion evaporates.
Please, kind readers, use common sense. If you don’t fully understand the concept and the financials then take a pass. Better to miss a deal than to go all-in on a scam.Read More
Although you’re no longer on active duty, it’s still your duty to take care of yourself and to protect your family’s financial future. You can do this by paying close attention to your benefits. Some, such as a VA loan, can help you save money. Others, like VA funeral reimbursement, aren’t enough to cover your needs. Knowing what you have and what you don’t is the best way to make a plan that will allow you to defeat the enemy of time and live out your golden years without the weight of financial woes.Read More
The willingness of so many to embrace this concept without serious thought made me nervous. The only relevance we got from the developer was, “They are doing it in Europe with great success.” And since we are in Florida, I have some land I’d like to sell you, too.
One thing was clear. The FIRE community, the FIRE movement, has reached critical mass. There are enough people with cash available to fleece. The old Microsoft Support Scam and IRS Scam are peanuts to what can be pried from the fingers of this group.Read More
Back in the 1980s when Peter Lynch was the name you listened to when it came to expert stock advice a unique situation existed.
Savings & Loans were going public at a torrid pace. Once it was discovered how much money could be made, every S&L couldn’t covert to a bank and issue public shares fast enough. Lynch made a killing for the fund (Magellan) he managed at Fidelity.
The biggest problem was getting enough shares. Non-customers of the S&L were frequently locked out of the offering. Even depositors of the S&L could only buy a limited number of shares.
Most S&Ls were small. But there were thousands of them!
Shares usually went public at $10 or thereabouts and almost always saw a sharp increase the first day of trading. Gains of 60% and more in the first month of trading were not unheard of.Read More
Commingling of funds (mixing business and personal funds) is one of the riskiest things you can do, causing serious legal and tax problems.
The issue is less acute from a legal standpoint if you are a non-LLC sole proprietor. There are still plenty of tax issues, however.
LLCs and corporations are at extraordinary risk when funds are commingled. Treating your business as a personal fiefdom instead of a separate entity—which it is—can cause serious legal and tax issues down the road. We will deal with both issues in this post.Read More
Interest rates have barely lifted from ground level and are already headed lower. In the U.S. short-term interest rates are at least positive. My EU and Japanese readers are not so lucky, facing negative rates.
Low interest rates are bad enough, but watching your bank balance decline is a downright nightmare for savers. If you are close to or in retirement this can cause great financial harm.
Because rates are likely to stay at these low level for the foreseeable future and there are many safe alternatives paying more, I will publish a special report each month highlighting one of these short-term, money market-like investments. Every effort will be made to address opportunities available to as many readers across the planet as possible.Read More