The battle is raging in Washington over the conduct of care in the financial services industry. One of my partners, Scott Simon, is one of the nation’s leading authorities on fiduciary matters dealing with investments and standard of care. In the opening two segments, I spend time discussing his thoughts about the current conflict going on in Washington DC. There is a titanic struggle amongst Wall Street interests and fiduciary interests to bend the ear of regulators. How this battle turns out will impact how investors are treated in the coming decades. While the language and the rhetoric can be hard to understand, this is a battle investors should worry and care about.
In the third segment, I spend time talking about inflation and how investors can protect themselves from the risk of inflation. My biggest personal concern is the poor use of what I consider inappropriate investments to battle inflation. Often, people will be influenced by paid spokespeople on radio and television who are touting the use of gold and silver as inflation hedges. In this segment, I provide my reasons why I think these investments are a very choice for people who are truly worried about protecting themselves against inflation. This is especially true, since there are some very low-cost instruments that can do a much better job of protecting against inflation.
In the final segment I spend a few minutes talking about the current state of financial markets.
Spock, Warren Buffett, Weather vs. Climate and Money Mistakes
Yes, one of those shows with a wide variety of topics related to business and investments. This also happens to be the last show from our former studios at 55 Hawthorne in the SoMA district of San Francisco. So the show is nostalgic for me since these are the only studios I have ever worked in over the past seventeen years. So it is a fond farewell to the corner studio on the 11th floor with the view. Lots of time spent over the years with so many friends and co-workers. Good times and some trying times too.
On the program this week, I open the show with a short trip down memory lane, then dive right into how people should be more concerned about the investment climate instead of the daily investment weather. Segment two is devoted to Warren Buffett and his annual letter to shareholders. Once again there are some great nuggets in this letter that all investors should pour over. In segment three, I review an article about the Vulcan Stock Market and Spock. It is a good read with some dare I say it, logical conclusions! I would be remiss if I did not say it was a sad day in the universe with the passing of Leonard Nimoy, which inspired the article about the Vulcan stock market.
Finally, in the last segment of the program this week, I review a column that highlights ten common mistakes people make with their money. I agree with some, but not all of the points the author makes.