As a former Dean and appointed Distinguished University Professor and Endowed Department Chair, Dr. David Edward Marcinko MBA was a NYSE broker and investment banker for a decade who was respected for his unique perspectives, balanced contrarian thinking and measured judgment to influence key decision makers in strategic education, health economics, finance, investing and public policy management.
Dr. Marcinko is originally from Loyola University MD, Temple University in Philadelphia and the Milton S. Hershey Medical Center in PA; as well as Oglethorpe University and Emory University in Georgia, the Atlanta Hospital & Medical Center; Kellogg-Keller Graduate School of Business and Management in Chicago, and the Aachen City University Hospital, Koln-Germany. He became one of the most innovative global thought leaders in medical business entrepreneurship today by leveraging and adding value with strategies to grow revenues and EBITDA while reducing non-essential expenditures and improving dated operational in-efficiencies.
Professor David Marcinko was a board certified surgical fellow, hospital medical staff President, public and population health advocate, and Chief Executive & Education Officer with more than 425 published papers; 5,150 op-ed pieces and over 135+ domestic / international presentations to his credit; including the top ten [10] biggest drug, DME and pharmaceutical companies and financial services firms in the nation. He is also a best-selling Amazon author with 30 published academic text books in four languages [National Institute of Health, Library of Congress and Library of Medicine].
Dr. David E. Marcinko is past Editor-in-Chief of the prestigious “Journal of Health Care Finance”, and a former Certified Financial Planner® who was named “Health Economist of the Year” in 2010. He is a Federal and State court approved expert witness featured in hundreds of peer reviewed medical, business, economics trade journals and publications [AMA, ADA, APMA, AAOS, Physicians Practice, Investment Advisor, Physician’s Money Digest and MD News] etc.
Later, Dr. Marcinko was a vital recruited BOD member of several innovative companies like Physicians Nexus, First Global Financial Advisors and the Physician Services Group Inc; as well as mentor and coach for Deloitte-Touche and other start-up firms in Silicon Valley, CA.
As a state licensed life, P&C and health insurance agent; and dual SEC registered investment advisor and representative, Marcinko was Founding Dean of the fiduciary and niche focused CERTIFIED MEDICAL PLANNER® chartered professional designation education program; as well as Chief Editor of the three print format HEALTH DICTIONARY SERIES® and online Wiki Project.
Dr. David E. Marcinko’s professional memberships included: ASHE, AHIMA, ACHE, ACME, ACPE, MGMA, FMMA, FPA and HIMSS. He was a MSFT Beta tester, Google Scholar, “H” Index favorite and one of LinkedIn’s “Top Cited Voices”.
Marcinko is “ex-officio” and R&D Scholar-on-Sabbatical for iMBA, Inc. who was recently appointed to the MedBlob® [military encrypted medical data warehouse and health information exchange] Advisory Board.
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BOARD CERTIFICATION EXAM STUDY GUIDES
Lower Extremity Trauma
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THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
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By Rick Kahler CFP®
http://www.MedicalExecutivePost.com
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Filed under: Experts Invited, Investing, Research & Development | Tagged: business ownership, CEO, Rick Kahler CFP® | Leave a comment »
CFP® is a Designation – Not a Guarantee!
By Rick Kahler CFP®
I have long recommended that consumers look for a Certified Financial Planning (CFP) certificant when shopping for a financial planner.
But don’t stop there. A CFP is no guarantee that someone is a competent, ethical, fiduciary professional. It only ensures that you are choosing from a pool of 85,000 financial services providers who are educated in the technical aspects of financial planning. It doesn’t mean the person is engaged in financial planning, is a fiduciary, or has a spotless ethical history.
In a troubling Wall Street Journal article on August 9, 2019, columnist Jason Zwieg writes that the “CFP Board’s online search directory neglected to inform the public that thousands of planners listed” have known “customer complaints, criminal histories, financial problems or regulatory proceedings.”
“Among these CFPs were 499 who have faced criminal charges, 324 who left a previous firm amid allegations of misconduct, 323 who had been disciplined or investigated by regulators and 68 who filed bankruptcy within the past 10 years,” Zweig notes. Yet none were ever disciplined by the CFP Board.
Let’s not lose perspective—these “bad apples” amount to less than 2% of CFP certificants. Every profession has those few who use its licensing and credentialing as a cover to manipulate, deceive, and abuse consumers. No amount of regulation or oversight will ever eliminate all the crooks.
In addition, you cannot simply assume because a professional has a certain license, designation, or formal degree that they are competent. In the graduate class I teach at Golden Gate University, not all students earn As and Bs. Many earn Cs. A few earn Ds and Fs. While I am not sure the D and F group ever graduate, I am sure I would not want them doing my financial planning without convincing evidence that their poor performance in my class was a one-off due to extenuating circumstances.
As the consumer, you cannot know if a prospective financial planner was that student. Nor can you know if they have a tainted criminal background, unless you dig deeper.
That digging includes looking for any past criminal or disciplinary charges brought by licensing agencies. It also includes determining whether the advisor is legally bound to a fiduciary standard—required to put your interests ahead of theirs—but has any conflicts of interest, especially by making a significant amount of their income from commissions on the sale of financial products.
Here are a few tips for digging deeper:
Assessment
To find a trustworthy financial planner, I still recommend the CFP designation. Just remember that it’s a starting point, not a guarantee.
Conclusion
Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
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Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com
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Filed under: Ethics, Investing | Tagged: Certified Financial Planner Board of Standards, CFP, CFP - Not a Guarantee!, Jason Zwieg, Rick Kahler CFP® | 1 Comment »
HOW I EARN – AND YOU PROFIT!
By Dr. David E. Marcinko MBA
My fee is $250 per hour prorated, so you only pay for the time used. This fee covers almost any medical practice management, insurance and risk management, personal financial planning or investment-related topic, including document review, phone consultation, research, and written investment strategies.
I also offer a special program for first-time potential clients called a Physician Practice-Portfolio Second Opinion™. This all-inclusive $450 program takes about two hours in total and includes a pre-call document review, 60-minute phone consultation, and summary with observations and recommendations.
Docotor colleagues find this to to be a good value because their questions are answered under one fee.
So, it does not matter if you are a new, mid-career or mature practitioner, or where your money is invested or how much you have invested. Simply, I serve along side you as a fiduciary by upholding a duty of loyalty, fairness and good faith in all decision making.
At your professional service!
THANK YOU
Dr. David Edward Marcinko MBA MEd CMP™
Certified Medical Planner™
phone: 770-448-0769
MarcinkoAdvisors@msn.com
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Filed under: Financial Planning, Free-Lance Jobs:, Investing | Leave a comment »
By Dr. David E. Marcinko MBA
Courtesy: www.CertifiedMedicalPlanner.org
Evaluating “Sham” Risk Aversion Determination Methodologies
BACK STORY: You visit a local financial advisor as a prospective client. S/he gives you a form to complete that purports to discern your investing risk tolerance?
FORM: It says: “Please indicate by ranking the items below from 1 to 4, with 1 being the most descriptive and 4 being the least descriptive”.
LINK: https://medicalexecutivepost.com/2009/12/28/risk-aversion-and-investment-alternatives/
EPIPHANY: After reviewing the form, you realize it is a superfluous one-size-fits-all risk reduction mechanism for the advisor. You identify the sheer malarkey of the exercise and leave in disgust. You ruminate to yourself – “there must be a better way,”
MORE: https://medicalexecutivepost.com/2017/10/24/on-investing-risk-tolerance/
And so, colleague Rick Kahler MSFS CFP® suggests alternative methods.
MORE: https://medicalexecutivepost.com/2017/10/18/on-retirement-planning-risks/
Your thoughts are appreciated.
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BUSINESS, FINANCE AND ECONOMICS TEXTBOOKS FOR DOCTORS:
THANK YOU
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Filed under: Investing, Op-Editorials | Tagged: financial metrics, financial shenanigans | Leave a comment »
Analysis of Paralysis
[By Staff reporters]
Buridan’s ass is an illustration of a paradox in philosophy in the conception of free will. It refers to a hypothetical situation wherein a donkey that is equally hungry and thirsty is placed precisely midway between a stack of hay and a pail of water. Since the paradox assumes the ass will always go to whichever is closer, it dies of both hunger and thirst since it cannot make any rational decision between the hay and water. A common variant of the paradox substitutes two identical piles of hay for the hay and water; the ass, unable to choose between the two, dies of hunger.
The paradox is named after the 14th-century French philosopher Jean Buridan, whose philosophy of moral determinism it satirizes. Although the illustration is named after Buridan, philosophers have discussed the concept before him, notably Aristotle who used the example of a man equally hungry and thirsty, and Al-Ghazali who used a man faced with the choice of equally good dates.
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A version of this situation appears as metastability in digital electronics, when a circuit must decide between two states based on an input that is in itself undefined (neither zero nor one). Metastability becomes a problem if the circuit spends more time than it should in this “undecided” state, which is usually set by the speed of the clock the system is running at.
LINK: https://en.wikipedia.org/wiki/Buridan%27s_ass
Assessment: Your thoughts are appreciated.
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[Dr. Cappiello PhD MBA] *** [Foreword Dr. Krieger MD MBA]
Front Matter with Foreword by Jason Dyken MD MBA
Filed under: Ethics, Investing, Videos | Tagged: Analysis of Paralysis, Buridan's Ass | Leave a comment »
Bonds an Investment Class Worth Some Excitement, Today?
By Rick Kahler CFP®
| “One thing I definitely don’t want in my portfolio is bonds,” a prospective client told me a few weeks ago. “Bonds are boring and don’t give good returns.”
Her confidence in her money script that bonds had no place in her portfolio was palpable. However, her understanding of the role bonds play in a portfolio was incomplete. I restrained myself from launching into a lecture on the importance of bonds and simply replied, “While it is true bonds can be boring, sometimes they can be phenomenally exciting.” Certainly stocks, commodities, and real estate investments are generally much more exciting. They are many times more volatile than bonds; in just a year it’s possible they might even gain or decline 50% in value. Meanwhile, individually held bonds and their mutual funds can crank out predictable coupon yields quarter after quarter after quarter, with one-third of the volatility of stocks. The cost of the lower volatility is that the long-term returns on bonds tend to be half to a third that of stocks. However, the bond market right now is anything but boring. So far this year, while stocks are back to prices roughly where they were in early 2018, a sharp fall in interest rates has caused bond investors to reap some significant capital gains. Bonds have an inverse relationship with interest rates. The value of most bonds increases when interest rates decline and go down when interest rates rise. ***
*** How significant are the gains in bonds? Since the beginning of 2019, investors in the 30-year Treasury bond have seen gains (interest plus price appreciation) of 26.4%. That would be an outstanding full year’s return for stocks. According to the Bloomberg Barclay’s U.S. Aggregate Bond Index, long-term bonds overall have generated a 23.5% return. Investment grade corporate bonds have returned 14.1%, while the 10-year Treasury note has gained 12.6%. Market observers have predicted for the last decade or so that bond rates have nowhere to go but up. What we’re seeing currently is a yield on the ten-year Treasury note of just under 1.47%. At the end of 2018 it was more than 3%. Will we see more of the same? It’s very hard to imagine that same 10-year Treasury falling another 1.5%—to zero yield. So the smart money says that most of the gains have already been taken, and anybody looking for 20-plus percent returns in long bonds going forward is just chasing them after the fact when returns are dropping. But how smart is smart? Just in case you agree and think interest rates have nowhere to go but up, consider that many countries in Europe actually have negative interest rates, where the investor or depositor pays to loan their money to organizations or banks. Another 1.5% fall to 0% interest rates could deliver similar 20% bond returns. Lessons Learned The lesson here is that even if you think of bonds as the boring part of your portfolio, there are times when they can add a little more kick to your returns than you might have expected. And in times of falling equity markets, they are an invaluable buffer against big losses. Still, with the long term probability that bonds produce a return half that of equities, there is a significant chance that they won’t sustain the 20-plus percent returns as rates stabilize and increase at some point in the future. Unlike the misinformed prospect I visited with, most investors over the age of 40 can benefit by having a substantial slice of their investment portfolio in bonds. Whether their returns are typically boring or occasionally exciting, bonds are an important asset class for diversified investors. Assessment: Your thoughts are appreciated. ***
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Filed under: Investing | Tagged: bonds, Rick Kahler CFP | Leave a comment »
By Dr. David Edward Marcinko MBA
When I was in business school back-in-the day, I studied the late great economist Milton Friedman Ph.D who opined that the purpose of a corporation was to enhance shareholder value, in an ethical and legal manner; period? Shareholders could then do what they wished with profits; if any. Charitable giving or Selfish intent, etc!
Now, for those of you who haven’t had time to review the recent seismic tome from The Business Roundtable Announcement this week, let me review why this is as big a moment as the Larry Fink BlackRock letter.
DEFINITION: A shareholder or stockholder is an individual or institution (including a corporation) that legally owns a share of stock in a public or private corporation. Shareholders are the owners of a limited company. They buy shares which represent part ownership of a company.
DEFINITION: A stakeholder as defined in its first usage in a 1963 internal memorandum at the Stanford Research Institute, are “those groups without whose support the organization would cease to exist.” The theory was later developed and championed by R. Edward Freeman in the 1980s.
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The Conundrum [real or perceived]
Shareholders are ever stakeholders in a corporation, but stakeholders are not always shareholders. A shareholder possesses part of a public company through shares of stock, while a stakeholder has a concern in the performance of a company for reasons other than stock performance or appreciation; ie., community good.
QUERY: So, exactly who will determine community good? And, who selects the stakeholders? Haven’t socially responsible companies, stocks, mutual funds and ETFs, etc., been in existence for decades? Is Professor Friedman rolling in his grave? OR, is this condundrum just linguistic gymnastics?
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Your thoughts are appreciated.
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Filed under: Ethics, Investing | Tagged: Larry Fink, Milton Friedman, purpose of corporations, shareholders, stakeholders | 1 Comment »
