Interview With Industry Leaders

Interview With Industry Leaders - Tony Chereso

No BS Weekly Update 2/20/2012

In This Issue

Looking in the Mirror

Cool Stuff

Secret Lives of Links

Good Eats

QOTD

"But no degree of prosperity can be sufficient to eliminate all misfortune, and sloth is impervious to opportunity."
So sayeth Odd Thomas in Forever Odd by Dean Koontz

Dear ,

Welcome to the second edition of our Interviews With Industry Leaders. As I said last month we are going to be bringing you interviews with people in the industry that we think are pretty smart and are on the cutting edge of their industry or specialty.

We have long been big believers in alternative investments as an asset class. There is a lot of due diligence that goes into investigating alternative investments before we offer them to our clients and clients as well should do their own due diligence before investing. With that in mind I thought it might be a good idea today to talk to an expert in the field of due diligence.

Today's interview is with Tony Chereso, President and CEO of FactRight, LLC., a comprehensive third party due diligence firm in Schaumburg, IL. It's about 14 minutes. I hope you enjoy it!

Interview with Tony Chereso.wmv

Sincerely,

CBO: Longest Period of High Unemployment Since Great Depression(US News and World Report)

RF: No surprise here.

Social Security reserves forecast to run dry in 2022(Washington Times)

RF: Just 3 years ago the projections were that this wouldn't happen until around 2037! What other government projections might be off like this? How about the savings in the healthcare plan? How about their calcualtions of whether the banks are sound? Makes you wonder doesn't it?

Calpers Actuary Proposes Changing 7.75% Investment Return(Bloomberg)

RF: Ya think? By "assuming" a 7.75% rate of return CALPERS is 81% funded. Here's the catch. Over the last ten years they have only been hitting in the 5% range. If you're going to assume a number that has no relationship to reality why not assume 10% or 20%? Stanford did a study and found that if you reduced the assumed rate to 6.2% CALPERS is only 58% funded, and even 6.2% is better than they've acutally performed for a decade. Just one more example of how the government is deceiving people to keep them unaware of how unstable their retirement system really is. Here's the scary part. Do you think they are the only state that is doing that?

Laughter

Different time frame, same basic result.

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I've tried several lasagna recipes over the years but this is my favorite. It's a long recipe so you will have to click on the image to get the full recipe. The sauce recipe calls for ground veal which you likely won't find at Meijer but it is well worth looking for. Its not bad if you just use 1/2 pound ground beef and 1/2 poung ground sausage but it really is better if you can find the ground veal. Now in the interest of full and fair disclosure, my intention was to take a before and after picture. I took the before picture but forgot about taking the after picture until it was too late!

(Click for rest of recipe and to print)

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Phil Reames

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