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HARD Asset LITE Companies?

Supply Chain Service Management?

[By staff reporters]

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Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

The Hemline Stock Market Index

What’s Up?

[By staff reporters]

According to Wikipedia, the hemline index is a theory presented by economist George Taylor in 1926. The theory suggests that hemlines on women’s dresses rise along with stock prices.

In good economies, we get such results as miniskirts (as seen in the 1920s and the 1960s), or in poor economic times, as shown by the 1929 Wall Street Crash, hems can drop almost overnight.

Non-peer-reviewed research in 2010 supported the correlation, suggesting that “the economic cycle leads the hemline with about three years”.

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Conclusion

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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

***

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

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Investing in Financial Counseling

Investing in Financial Counseling

By Rick Kahker MSFS CFP

As a long-time advocate of blending financial planning with counseling, I’ve had years of seeing the benefit for clients. I have come to see financial counseling as an investment: one that can pay greater dividends than investments in a home, retirement account, or college education.

How can this be the case?

Mostly because making good financial decisions is the foundation of financial and emotional well-being. Most financial and many emotional problems result from disordered and dysfunctional money beliefs and behaviors. Money disorders can impair people’s functioning and disrupt their well-being just as significantly as disorders like alcoholism or other addictions.

Some common disordered money behaviors include the following:

• Compulsive Spending is a consuming focus on buying. It can include buying things you can’t afford as well as “retail therapy” shopping where no money is actually spent. It can mean you underfund emergency reserves and don’t adequately set aside enough for retirement.

• Financial Enabling is an attempt to meet your emotional needs by “helping” others, which usually does more harm than good. A pattern of bailing kids out financially is a good example. Enabling can financially harm the parent by diverting resources from other needs and sabotage the child by rewarding dependency and entitlement thinking.

• Hoarding is compulsively buying and storing things that you don’t need or will never use.

• Financial Infidelity is keeping money secrets (such as spending, saving, or investment mistakes) from your partner because you would be ashamed to have them find out.

• Inappropriate Financial Boundaries is sharing of worries or financial details in ways that violate the boundaries between children and adults.

• Workaholism is a consuming focus on work or earning to a point of damaging your relationships.

• Underspending is frugality taken to extremes, such as inadequate spending on health care, nutrition, shelter, or clothing even when you can afford them.

All these disordered financial behaviors have one thing in common: fundamentally, they aren’t about the money. They are often an unconscious response to emotional pain, in the same way addiction or anger might be. The disordered financial behavior may be a medicator that works to deaden deep emotional stress and painful emotions. While one person may find relief in alcohol or drugs and another may find it in work, someone else might use shopping, saving, or financial enabling as a way to feel better and function in the world.

Just like addictions, however, disordered financial behaviors only relieve pain for a short time. Eventually, the pain returns, sometimes even stronger. The result is an escalating cycle of destructive behavior that has many negative consequences, including financial.

To see the link between emotional health and financial health, just read a celebrity magazine or observe people you know. I’ve seen high-earning professionals who have a negative net worth because they can’t control their spending. You probably know people who bounce from one financial mess to another, never seeming to learn from their money mistakes. Some very capable and intelligent people struggle financially and in their careers because of emotional issues.

For most people experiencing financial problems, financial counseling to resolve emotional issues is a low-priority expense that comes far down the list after basic needs like housing, food, and transportation. Yet for anyone who struggles to overcome destructive patterns of behavior—even those that aren’t directly about money—counseling can pay off in very real monetary ways.

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mind-investing-behavioral-finance

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Assessment

Emotionally healthy and confident people make better choices about relationships, careers, and other major aspects of their lives. They also make better choices about money. This is why financial counseling is more than an investment in your emotional health. It can also make a measurable difference in your financial wealth.

Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

My Interview with Danielle Town

My Interview with Danielle Town

By Vitaliy Katsenelson, CFA

Today I’d like to share with you an interview I did with my friend Danielle Town. Danielle is coauthor of Invested and runs the Rule #1 Finance blog with her father, Phil Town.

Danielle put me on the proverbial podcast couch; and though originally we were going to talk about investing, well, we talked about everything but investing. We ended up delving into many personal topics I rarely discuss. I went down memory lane about growing up in Soviet Russia, my family’s immigration to the US in 1991 and our first years in the US, my parents’ attitude towards money, budgeting, creativity, sleep, writing, a book I am working on, and more.

This interview ran so long it was broken up into two parts (Listen to Part 1 here and Part 2 here). I don’t think I could have done this interview talking to a stranger. It turned into a conversation between friends.

We decided that we are going to go back and talk about investing next time. Maybe we’ll do another interview when I see her in Switzerland in January, where we’ll both attend VALUEx Klosters.

Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

The “Halloween Indicator” [Investment Strategy]

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What it is – How it works?

[By staff reporters]

Sell in May and go away is an investment strategy for stocks based on a theory (sometimes known as the Halloween indicator) that the period from November to April inclusive has significantly stronger growth on average than the other months.

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“DANCE OF DEATH”

[Copyright 2018 iMBA Inc., All rights reserved. USA]

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The Strategy

In such strategies, stocks are sold at the start of May and the proceeds held in cash (e.g. a money market fund); stocks are bought again in the autumn, typically around Halloween. “Sell in May” can be characterised as the belief that it is better to avoid holding stock during the summer period.

Though this seasonality is often mentioned informally, it has largely been ignored in academic circles (perhaps being assumed to be a mere superstition). Nonetheless analysis by Bouman and Jacobsen (2002) shows that the effect has indeed occurred in 36 out of 37 countries examined, and since the 17th century (1694) in the United Kingdom; it is strongest in Europe. While the effect may reflect a failure of the efficient-market hypothesis, alternatives exist such as small sample size or time variation in expected stock market returns.

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halloween

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Causes the Effect

Although it’s not clear what causes the effect, what’s most interesting is that it shows that stock market returns in many countries during the period May–October are systematically negative or lower than the short-term interest rate, which also goes against the efficient-market hypothesis. Stock market returns should not be predictably lower than the short-term interest rate (risk free rate).

Popular media often refer to this market wisdom in the month of May, claiming that in the six months to come things will be different and the pattern will not show.

However, as the effect has been strongly present in most developed markets (including the United States, Canada, Japan, the United Kingdom and most European countries) in the last decade – especially May–October 2009 – these claims are often proved wrong.

That said, between April 30 and October 30, 2009, the FTSE 100 gained 20% (from 4,189.59 to 5,044.55)

Academics

The effect has largely been ignored in academic circles. The idea contradicts much established theory, especially the efficient-market hypothesis.

Maberly and Pierce extended the data to April 2003. They also tested the strategy for April 1982 through April 2003 except for two months, October 1987 and August 1998. They found that it doesn’t work well in the time period April 1982–September 1987 plus November 1987–July 1998 plus September 1998–April 2003.[7] Other regression models using the same data but controlling for extreme outliers have found the Halloween effect to still be significant.[8]

“Sell in May and go away” has persisted as a profitable market-timing strategy for stock investors, according to a follow-up study by Andrade, Chhaochharia and Fuerst (2012). They find that the Sell-in-May seasonal pattern persists after the end of Bouman and Jacobsen’s (2002) sample. This is important in showing that the Halloween effect is not a statistical fluke detected by data mining. Strikingly, in the 1998–2012 sample on average November–April returns are larger than May–October returns in all 37 markets they study. On average, the difference is equal to about 10% percentage points. Also strikingly, the magnitude of the difference is the same in Bouman and Jacobsen’s (2002) and in the out-of-sample analysis of Andrade, Chhaochharia and Fuerst (2012). Further backtesting by Mebane Faber has shown this effect has been in place since 1950.

Source: Sell in May Wikipedia, the free encyclopedia

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BBmmXXC

http://www.msn.com/en-us/money/markets/best-6-months-for-stocks-could-be-right-around-the-corner/ar-BBmma2Y?li=AA4Zjn&ocid=U348DHP

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More: 

Even More:

Much More:

Assessment

Was this indicator appropriate for 2018?

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.

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners(TM)

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Bank Safety Deposit Boxes; Not So Safe After All?

 Not Really a Safe – SAFE?

By Rick Kahler CFP®

I have routinely recommended that people use a bank safe deposit box to store valuable papers and small assets. These include documents like wills, trust documents, ethical wills, and unrecorded deeds. Valuable assets would include diamonds, gemstones, jewelry, bullion, and small collectables like rare coins, stamps, and trading cards.

The physical protection of a bank vault, plus a system of access requiring two keys kept by the customer and the bank, would seem to provide a great deal of security. Yet several recent news articles suggest safe deposit boxes may not be as safe as they seem.

Report

An article in the New York Times reported 44 robberies in the last five years related to safe deposit boxes. Even worse were numerous bank errors in which boxes were moved, misplaced, drilled open, or closed by mistake. A large Maryland bank closed several branches and lost hundreds of safe deposit boxes. One customer lost $500,000 worth of gold and gems.

In each case, banks vigorously fought any requirement to make their customers whole. Even more shocking, no provision of federal banking law regulates safe deposit boxes.

Nor do banks insure the belongings of customers who trustingly store their most precious valuables in safe deposit boxes. The  risks fall on the renter. Wells Fargo’s safe deposit box contract caps the bank’s liability at $500. Citigroup limits it to 500 times the box’s annual rent. JPMorgan Chase has a $25,000 ceiling on its liability.

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My Story

Decades ago, I placed some rare coins in a safe deposit box with a local bank. A few years ago I went to retrieve my valuables, only to find the bank had drilled open the box and sent the contents to the state as abandoned property. I learned that when I relocated my office, the change of address notification failed to carry through to the annual billing notice for the safe deposit box fee. After three years of non-payment, the bank chose to go through the effort of drilling open the box and shipping the contents to the State Treasurer’s office. It would have been simpler to spend a few minutes looking up my information and contacting me.

Eventually I was able to retrieve the contents of the box. I was lucky.

An international expert in rare watches stored 92 watches plus rare coins, worth millions, in a safe deposit box at a Wells Fargo bank branch. Wells Fargo had evicted another customer for non-payment and drilled open the wrong safe deposit box. The customer found his “safe” deposit box empty. Wells Fargo executives could only find 85 of his watches.

The customer sued. Wells Fargo admitted in court that its employees had mistakenly drilled into and terminated the box. The unrecovered items included gold coins and a watch estimated to be worth nearly a million dollars. After years of litigation and appeals, Wells Fargo has offered no restitution.

If a “safe” deposit box isn’t really safe, what can you do instead?

Here are a few suggestions.

1. Consider investing in a high-quality home safe for small valuables and important documents.

2. Scan all important documents and save copies in a secure online “vault.” Many financial planners provide such online backup storage.

3. If you do use a safe deposit box, choose one at the bank you use regularly and open it at least once a year.

4. No matter where you keep your valuables, insure them adequately. Standard homeowner coverage is probably not enough.

5. Share passwords and access codes with another trusted person.

Finally, ask before you store. Understand a bank’s policies and coverage limits before you trust it with your valuables.

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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

***

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

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On Business Ownership

No Self-Indulgent Path to Success

repeat

No Self-Indulgent Path to Success

By Rick Kahler CFP® 

http://www.MedicalExecutivePost.com

“Most of my friends assume that business owners spend their money and time on cocaine and hookers.”

This jaw-dropping quote came from a young man I was talking with recently about money, investing, and running a business. I was shocked; this was a money script I had never heard.I asked if he was serious. He was. I asked if any of the friends with this belief were raised by a parent who owned a business. He thought for a moment and said, “No, not one.”

This conversation reminded me of a government employee who once told me, “Any person who succeeds in business had to do so illegally by embracing corruption and dishonesty.” He, too, was serious.

I was dumbfounded by both of these encounters. My experience of being raised by parents who owned a small business, and then going into business for myself, was quite different from these perceptions.

My father started his own business when I was four years old. I witnessed him working long hours. I remember the times when business was so bad he would have to borrow money to pay the bills and keep the doors open. Later in life I learned his business rarely made a profit and was just able to pay his salary.

He never shared with his employees how tight money was. When I went to work for him as a teenager, I remember listening to the talk around the water cooler. They all assumed he made far more money than what I knew was true.

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In the years since, I have discovered many misperceptions about people who own real estate, are in business, or who have accumulated wealth.

The first misperception is that someone who owns real estate or a business has actually accumulated wealth. My 40 years of experience in financial planning has taught me that many, if not most, business owners would make more money working for someone else. And real estate owners accumulate wealth slowly. Most of them, myself included, struggle through some lean years with short or even negative cash flow until they finally pay off their mortgages.

Certainly, real estate or business owners who  persevere over the long term can become wealthy. Being wealthy, according to various studies, is defined as having a minimum net worth of somewhere between five million and twenty million dollars.

About 80% of millionaires own their own businesses. They put in long hours, often in careers they love enough so that work becomes play. The average business owner puts in about 70 hours a week. They are five times more likely than non-business owners to be “always available” via e-mail, four times more likely to work nights, and three times more likely to be in the office or store on weekends.

This is the way one successful business owner described it: “Our company will celebrate its 50th anniversary next year. Probably the first 30 years were spent working 70-100 hour weeks at below minimum wage and dumping every extra penny back into the business. I would say it’s only been the last 10 years that we have begun to reap the financial rewards that we spent 40 years striving to attain, still working 60-70 hour weeks. I acknowledge our work habits may in part be a result of being stubborn Norwegians that don’t think anyone else can do things right, but most successful small business owners I know have pretty much dedicated their life to become successful.”

Assessment

This focus and work ethic are what it takes to succeed at business ownership. It’s not a mindset that includes blowing money and time on cocaine and hookers.

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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

***

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

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