Hi all: Dear followers; Just a quick note to pique your interest. I’ll be Home next week from Israel with Lot’s to write about. Meanwhile, thinking of you and wish you the best. Joyce
- To paraphrase The NY Times 8/12/12, John Bogle states that this is the worst time for investors that he has seen. He urges everyone to wake up because the financial system has been badly damaged and a Black Swan event, something apocalyptic, though small is real. He further urges return to fiduciary responsibility. In an ideal world, people would do the right thing, but as many have noted before, enforceable laws , creating stability in the marketplace is required once again.
- Also quoted, in the NY Times, Gretchen Morgenson, requests that we mark 8/29 on our calenders because the SEC votes on limiting taxpayer exposure to teetering money market funds when the next financial meltdown occurs. Mary Schapiro , Chairwoman of the SEC is committed to protecting taxpayers and intends to require funds to set aside capital to protect their share price. But , to no one’s surprise, the fund managers strongly oppose any new capital requirements. It’s better to “stick it”to the taxpayers once again, then live up to their fiduciary responsibility.
- (4 ) NY Democratic Representatives are skipping the Democratic Convention in Charlotte, North Carolina. They are Representatives: Bishop, Hochul, Owens and Slaughter… Takes courage to stay away from the circus, courage that should be admired and replicated by other Congressmen from both Parties. After all, with Citizens United, this is no longer a “free” election. We will be electing the best that money can buy.
- And in the LOL column, A toy that was included in our Tedx Bounty, Buckballs, has been taken off the market. I thought these rare earth magnets were an interesting diversion and gave them to my creative 16 yr old grandson. Though he has made many tetrahedrons and other interesting designs, it never occurred to me that this was a dangerous “object”. Don’t blame the manufacturer , take personal responsibility and don’t give it to small kids or anyone who may choke on these balls. We’re not outlawing bullets. Why should we outlaw Buckyballs?