Many people are familiar with the terms private equity, venture capital and hedge fund, but few can actually define how each investment vehicle operates or makes money. Thanks to their seemingly complicated nature and lucrative reputations, the PE, VC and hedge fund industries occupy an almost mythic (and sometimes infamous) status for Americans. The combination of mystery and wealth creates a vacuum for misinformation and mistrust. This webinar de-mystifies these private funds (there are more than 25,000 in the U.S. alone), explaining their similarities to and differences from other investment vehicles and from each other.
The Consumer Price Index (measured by referencing a basket of commonly purchased consumer products and services, including food and beverages, housing, apparel, transportation, medical care, recreation, education, and communications) rose 6.2% from last October to this October. As widely noted on November 10th, this was the highest rise in more than 30 years.
We took the opportunity in our November 11th edition to say “we told you so,” by referencing our warnings back in our March 11th and June 24th editions, and to predict that inflation will continue unabated for some time to come, certainly into 2023, and that this will help contribute to a big jump in business failures in the U.S. over the coming year.
We were humbled to learn that Ray Dalio, the legendary founder of Bridgewater Associates, must have taken what we wrote to heart, when we saw that he rushed to write an article of his own, On Inflation and Wealth, the very same day. If you care about your financial future, it’s worth the read.
P.S. In case you didn't catch our sarcasm, no, we don’t really believe that the head of a $140 billion hedge fund knows who we are.
Ever wonder whatever happened to someone you knew a long time ago?
Back in 1982, when some of the Financial Poise Editorial Staff were students at Ridgemont High, they knew a guy named Mike Damone. You may have known him too. This may refresh your memory. Well, we think we found him - on our voicemail.
Those of a certain age can remember junk mail (as in actual U.S. mail that required a stamp), which gave way to robofaxing, which in turn gave way to spam emails and robocalls. As annoying as these calls and emails can be, they can also provide hours of entertainment. Don’t believe us? Watch this YouTube clip of James Veitich’s TED Talk. You’re welcome.
Financial Poise regularly beats the drum against “investing” in Bitcoin and other cryptocurrencies, mostly because one cannot “invest” in these things. Read Buying Cryptocurrency: Fad, Fraud or Fortune-Maker? to learn why. But, if Amazon were to back a cryptocurrency, we might be persuaded to take a gamble. Can you imagine if Amazon started to accept a token like cash, for anything and everything it sells? That could be a complete game changer.
And the scammers knew it. As recently as earlier this week, Facebook was running sponsored posts advertising “Amazon Tokens.” And clicking on the ad led you to a slick website designed to make it look like it was affiliated with Amazon, where one could buy these so-called Amazon Tokens. The website is down now, but you can see screenshots on Josh Benoff’s terrific blog, Without Bullshit. Josh, by the way, was careful to couch his statements by saying it “looks like a scam,” thus providing protection against a lawsuit in the uber-unlikely event it’s for real. So, we suppose that we should do the same thing and make clear that we believe it to be a scam, but have not yet confirmed it to be so. That said, if you think it’s real, shoot us an email because we want to give you the opportunity to help a Nigerian prince.
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