The Wealth Consigliere

Shelter-in-place is causing numerous emotions. Some are thinking they feel fine and are willing to take the risk to go back to work. Many don’t feel safe to return now. This week we will look at what safety and immunity means. My wife, our youngest daughter and I have compromised immune systems. We feel fine but we will stay home. It is a difficult decision. Company    The established rules of business are being tested by The Virus. Businesses were either realistically engaged or have skinny cash budgets that are being exposed. Unfortunately the solutions are not government or The Fed bailouts, they are cutting costs and embracing technology. We don’t need to spend money on fancy offices, we can meet on Zoom like we have been during the lockdown. The money saved can be used for our Furlougheed professionals. New roles and responsibilities will be required, we don’t need to wait until we receive an “All Clear”.  We can make the changes now with the input from ou...

We are fixated on data. How many cases are there of COVID-19 or should we be tracking deaths?  Is the Dow or the S&P a better gage of investment success?  As we prepare to end our quarantine we will examine areas to measure. It is challenging but necessary for our sanity. Jack Welch built his career helping and requiring his employees meet the measurements of Six Sigma . This week’s blog will identify areas we have monitored in our past and how they worked and end with items to measure in the future. John Liscio One of the first people I followed for information on the bond market was John. He was a writer for Barron’s Current Yield colum n and I was impressed by his accuracy in predicting unemployment realeases. I called him and asked him about his secret sauce. After he vetted my needs - we began a conversation that was mutually beneficial. His secret was to monitor weekly unemployment claims and ADP data. Both items are now monitored by all of us. If John was s...

We have all been sheltering in place for the last few weeks and we have a lot of questions for Dr. Fauci and our political leaders.  While we don’t have any medical answers we have been thinking about what our industry will look like after the quarantine. Our blog this week will share our ideas and also give us someone to talk to without risking your health. The three areas we have been thinking about are: 1. What can we keep? 2. What we should change ? 3. What can we improve?  Put on your mask and scrabble players choose a word that starts with a “V”. Thanks for listening. Keep We have kept many things over our history because they work. We have improved the items using new technology but at the end of the day we retain most of the idea infrastructure. In our business we need to retain Financial Planning. Our clients need help creating a plan and most importantly sticking to the plan. We have failed teaching this important concept to our children which might explain...

We are ALL spending more time at home. While many of us watched some Movies covertly at work now we are the boss and streaming content is our refuge. This month we will furlough  our monthly podcast list and replace it with what we are watching. Our hope is to return soon once our government tells us it is safe. Amazon Prime Now that we realize that even Amazon is out of Purel l and TP we will start to watch their streaming content that is available. Our favorites are: 1. Goliath 2. The Maverous Mrs. Maisel 3. Fleabag Netflix  This service seems to know me better than I know myself. The daily emails are starting to bother me, but several shows they recommend are worth checking out. My favorites are: 1. Ozark 2. Kim’s Convenience 3. The Crown I promise you won’t get any SPAM emails from me when you watch these shows. Apple TV + They hooked me with The Morning Show and then they went dark. The new programs have  roped me back in...