Current Issue - September 2015

Since I started our family investment management firm in 1989, I have operated under the assumption that the Prudent Man Rule carries as much weight as it did when it was formulated in 1830. The Prudent Man Rule directs trustees 'to observe how men of prudence, discretion and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of the capital invested.' Common sense and prudence just don't go out of style—ever.

In these strategy reports, I have been writing about my four Ps—Protect, Preserve, Patience, and Perspective. This month, I add a fifth member to my Ps family: Prudent. Prudence is especially important in our current economic environment, where retirees are kept hostage by a mismanaged Fed that has kept interest rates too low for too long. As I explain in this month's letter, with your prudent investment selection, you can easily be set on a course to win the war, if not every battle along the way. With this in mind, I want you to invest in one of the few safe, high-yielding opportunities left in today's bubble-like market, an MLP ETF that yields 7.9%. I also want to see one of my two largest holdings become one of your top two holdings. This bond fund is the lead position in my newly introduced Maximizers strategy, and no investor should be without a core position in it. More >>

Economic Analysis - September 2015

Each month, I provide you with an Economic Analysis supplement to the issue. This supplement provides you with a bird's eye view of the indicators that I monitor on a regular basis. The incisive, story-telling charts included in this supplement are updated every month and range from "The Leaders" to "World Currency Reserves/World Gold Reserves." There will always be great new material as well as timely reference dates, and my comments spell out the meaning of each chart for you. Download in pdf format.

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No More Excuses for the Fed

September 04, 2015 The jobs report was released this morning and number of new jobs created in August came in at 173,000, missing estimates by about 44,000 jobs or 0.02% of the total U.S. labor force, but last month’s number was revised up by 30,000 jobs. The unemployment rate fell to 5.1%, which is dead smack in the […] More »