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Money 101:
Personal Money Planning's Newsletter
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Howdy!
Last week, on June 6, the world was watching the skies. The planet Venus crossed in front of the sun for the last time until the year 2117. I spent a few minutes with my welding glasses staring up as the small black dot (Venus) hovered in front of the sun. It was cool to watch for a while, but it was more fun to think that nobody alive on the Earth at that moment would be alive when this event happens again (well, maybe a few babies who really figure out the longevity of life thing).
I hope you enjoy this newsletter. I've included a link to a Dallas Fed report that many will find enlightening, if not discouraging. As always, we've included links to my articles and the update to the Monthly Market Monitor, one of the many resources on our website.
Gary |
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Gary's Soapbox
TBTF...Really?
Too big to fail (TBTF). Sound familiar? That was the rallying cry around which the wagons gathered to protect this country's biggest financial institutions. Let them fail, the logic went, and they will take down the entire financial system, the economy as a whole, and plunge the world into the second Great Depression. We don't know if that would have happened, and we never will.
Examining the issue of TBTF is the goal of the 2011 Annual Report from the Federal Reserve Bank of Dallas. Before you get the idea that the Federal Reserve is going to say that what they did was perfectly sound, realize that the Dallas branch tends to be a bit of a maverick. That's why in the report they find plenty that went wrong and continues to go wrong when it comes to reining in the financial sector.
And that's before the recent little $2 billion-plus mishap from one of the better run banks.
So if this stuff interests you (the fact that the fate of the world rides on it might peak your interest), then I think you'll enjoy being dismayed by this report from the Dallas Fed.
Gary Silverman, CFP®
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Gary's Latest Articles from
Times Record News
Selling the Dogs
Panicking and selling the bulk of your portfolio when the market is down sure isn't a long-term strategy, but there may be a reason to sell a few of the falling stocks. Read more...
Lessons from Navy Life
June 10th marked 30 years since the end of Gary's Navy career, but the lessons he learned there serve him to this day.Read more...
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Money 101: Monthly Market Monitor
 Charts reflect recent economic happenings
Each month, Personal Money Planning updates its website with the Eaton Vance Monthly Market Monitor. It is full of information about the ever changing markets and helps investors gain a deeper understanding of their portfolios. Click here...
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In Closing
Two Quarters or a Dollar Bill?
A young boy enters a barber shop and the barber whispers to his customer, "This is the dumbest kid in the world. Watch while I prove it."
The barber puts a dollar bill in one hand and two quarters in the other, then calls the boy over and asks, "Which do you want, son?"
The boy takes the quarters and leaves the dollar.
"What did I tell you?" said the barber. "That kid never learns!"
Later, the customer leaves, and sees the same young boy coming out of the ice cream store. He asks. "Hey, son! May I ask you a question? Why did you take the quarters instead of the dollar bill?"
The boy licked his cone and replied, "Because the day I take the dollar, the game's over!"
Mmmmm....ice cream.
Have a great weekend!
Sincerely,
Gary Silverman
Personal Money Planning |
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©2011 Personal Money Planning . All rights reserved by Personal Money Planning and content may not be reproduced, disseminated, or transferred in any form or by any means, except with the prior written permission of Personal Money Planning unless specifically noted. (Permission is not difficult to obtain.) The one exception is for downloading and printing information from this newsletter for general education by the original recipient.
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DISCLOSURE
This newsletter is produced by Gary Silverman, dba Personal Money Planning, a registered investment advisor located in Wichita Falls, Texas.
Information in this newsletter is believed to provide accurate and authoritative information in regards to the subject matter covered. However, the accuracy, timeliness, or applicability of the information is not guaranteed and is provided with the understanding that we are not rendering legal, accounting, tax, or other professional advice or services.
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Historical performance results for investment indexes and categories generally do not reflect the deduction of transaction or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results.
A copy of Personal Money Planning's current written disclosure statement discussing Personal Money Planning's business operations, services, and fees (known as an ADV Part II) is available from Personal Money Planning upon written request (and can be downloaded from our web site).
Personal Money Planning does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Personal Money Planning's web site or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. |
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