1 -Our world has some serious long-term challenges that need attention -- but policy makers don't seem to be looking. I invite you to spend a couple minutes withthis week's article, which comes from the brilliant mind of Professor Kenneth Rogoff.
2 - On the other hand, there is some good news to report.You know the U.S. imports much more in the way of goods and services than we sell to the rest of the world. Well, don't look now but the situation has improved a lot. Spend another minute with this week'ssecond article.
3 -Over the last few years, many investment professionals (including us at Millard & Company) have gradually moved away from mutual funds in favor of exchange-traded funds, commonly known as ETFs.Watchthis week's videoto see why.
4 -A HEADS-UP FOR CLIENTS:Today is the last day of the quarter, so quarterly reports will be coming soon. We have spent the last six months transitioning to a new portfolio management and reporting system, soyour report will look different than what you're used to.Please let us know what you think.
1 - Last week's article on saving prompted some thoughtful comments by one of our clients. He sent them to me in an email and gave permission to use them in this week's newsletter. The author shall remain nameless due to industry regulations and privacy concerns, but I think you'll enjoy it.
2 - As a follow-on to Michael's identity theftvideo last week, we have an article on the same topic but with a few different strategies for protecting yourself. Check it out.
3 - What are the odds that a child's very first day of school would turn out to be one of the luckiest days of his or her life? It happened to me, and it illustrates the power of our own expectations. Watch this week's video to see what I mean.
The
stock market sometimes moves in mysterious ways, and there are those who would
tell you the exact cause of every twist and turn. Here's a more likely
explanation - and the reason why it probably doesn't matter.(Find more
videos on our YouTube channel: www.youtube.com/tryonite.)
1 - In case we needed another
example of the futility of predicting market performance, the Dow posted its best 3-day gain of
the year last week. Where did that come from? Both This Week's Economic News
(below) and This Week's Video (above) attempt to explain the unexplainable. 2 - Despite what the markets
might be saying, Europe
is still in dire fiscal straits. Depending on whom you listen
to, we could eventually see (a) a Greek exit from the eurozone, (b) a complete
breakup of the euro, (c) a surviving but somewhat changed eurozone, or (d) a
smaller fiscal union anchored by Germany, France, Italy and Spain. But knowing
that we really can't tell what might happen, perhaps we should add (d) none of
the above.
3 - Reminder to clients:In case you have
yet to complete our technology survey, please CLICK HERE to do
so.
Have an unpredictably fun week!
~Andy
DOW LOGS BEST 3 DAYS OF
THE YEAR
How could that happen with such
negative indicators? Two words: renewed hope. Thursday, European Central Bank
president Mario Draghi said the ECB would do whatever is needed to save the
euro; Friday, Draghi was reportedly talking with Germany's central bank about
coordinated sovereign debt purchases. So the Dow (+1.97% to 13,075.66),
NASDAQ (+1.12% to 2,958.09) and S&P 500 (+1.71% to 1,385.97) all did well
last week. COMEX gold rose 2.22% last week to end Friday at $1,618.00; oil
settled at $90.13 Friday, as prices slipped 1.85% across five days.1,4,6
1 - CLIENTS:We are currently considering several
technology initiatives, and we need your input. Please CLICK HERE to
take a brief survey; you would be doing us a huge favor.
2 - I
was a bit hasty last week in announcing that our next Dinner and a Movie would
occur next month. Michele pointed out that we've had a lot of events recently,
and it might be good to wait a while before the next one. Therefore, our
next client Dinner and a Movie event will take place on Friday, September 14. Save
the date!
3 - One of the more
nettlesome financial topics clients often face is how to deal with their home
mortgage. This week's video
discusses three important things any mortgage-holder should bear in mind.
Click on the image above to view a highlight reel
from last week's very informative and thought-provoking client Q-and-A session
with Steve MacNamara and Andy. (Find more
videos on our YouTube channel: www.youtube.com/tryonite.)
1 - We had a very well-received informal
session last Tuesday evening with Steve MacNamara, CFA, our investment
researcher. Steve traveled from Connecticut to Tryon just for
the occasion and flew back the same night. The issues we covered with clients
were serious and meaningful. We went into some depth about Steve's experience
and expertise, why and how he does what he does, and how I am able to translate
his research for use in client portfolios. Click here to view an
abbreviated video of the event by Erik Olsen.
2 - Our
next client Dinner and a Movie event is scheduled for Friday, August 10. We'll
be screening one of my all-time favorites, "Moonstruck" starring Cher
and Nicholas Cage. Clients can expect to receive an email invitation later this
week. Save the date!
3 - If you live in Tryon
or the surrounding area, you may have noticed that I'm working with a group of local
citizens in an effort to reverse the recent trend of businesses leaving the
downtown area. I did not ask for ask for the leadership of this
effort, but it seems to have been thrust upon me, and I'm happy to work with a
this enthusiastic group to bring about positive change. I've made it clear that
our clients must come first, so we're putting several things in place that will
allow me to limit my time commitment to the project. Fortunately, there are
several talented and energetic folks ready to step up and assume leadership
roles.
Millard & Company's investment approach is
based on four core beliefs. Here they are. (Find more
videos on our YouTube channel: www.youtube.com/tryonite.)
1 - By now, all clients should have
received their reports for the second quarter. The quarter was
a rocky one: full of global sound and fury, with the upshot being a 3.3% drop
in the S&P 500. And with many looming questions surrounding Greece, the
European recession, a sluggish domestic recovery, and a contentious
presidential campaign, the
next three months could be another adventure -- but we can't say for sure.
As we said last week, we must not anticipate, but instead try to prepare our
portfolios for many possible scenarios.
2 - This week's video happens to be on
the very topic of preparing portfolios for various scenarios.
3 - One final reminder: our Investment Roundtable event with
Steve MacNamara is tomorrow at 5:30. Steve is our
investment researcher, and he's traveling here from his office in Connecticut
to share his insights. This
is as challenging an investment climate as I have ever seen, so this particular
session is very timely. To reserve your spot, you can click here, email
Michele at michele@low-stress-investing.com or
call her at 859-7001, ext. 2.
A client recently received a letter indicating that she had won a multi-million-dollar sweepstakes. Something didn't seem quite right, so she brought the letter to us for confirmtion. Let's look at it together, shall we? (Find more videos on our YouTube channel: www.youtube.com/tryonite.)
1 - All right, clients, it's time to make your plans: our Investment Roundtable event is one week from tomorrow. Our investment researcher, Steven MacNamara, CFA, is traveling here from his office in Connecticut to share his insights, and I'll chime in with a few as well. If you have any interest in learning more about our investment process and how we're dealing with the craziness that is 2012, come and chat. It should be a lively, informal conversation. To reserve your spot, you can click here, email Michele at michele@low-stress-investing.com or call her at 859-7001, ext. 2.
2 - Have you ever won the Publisher's Clearing House Sweepstakes? One of our clients received a letter the other day indicating that she had won over $2 million, but something told her she should show me the letter before claiming her prize. In this week's video, we turn a critical eye on this suspicious document and look for the telltale signs of a fake.
3 - The markets are always reminding us to not count our chickens -- or to count them out. The second quarter just ended, and it saw the S&P 500 drop by 3.3% -- but it would have been much worse without Friday's 2.5% surge on the heels of a promising eurozone deal. How long the optimism will last is anyone's guess. As always, we must not anticipate, but instead try to prepare our portfolios for many possible scenarios. It's not easy, but we work diligently at it. Sure you don't want to come to the Investment Roundtable?
4 - Our office will be closed on Wednesday for the 4th of July. Our nation is going through some crazy stuff at the moment, and life in these United States is changing fast, but aren't you glad you live here?
Have an All-American week!
~Andy
PS - On a personal note: I have a friend named Jerry Corn; we met 12 years ago as volunteers at the Blue Ridge BBQ Festival. Jerry has a compelling personal story he wants to share with the world, so I helped him by making a 15-minute video interview, which you can watch by clicking here.
C. Andrew Millard, CFP is president of Millard & Company in Tryon, NC. He is the author of two books, Low-Stress Investing: 10 Simple Steps to a Worry-Free Portfolio, and The Graduate's Book of Practical Wisdom: 99 Lessons They Can't Teach in School.
