September 22, 2022 at 8:57 am
Bloomberg News this week uncorked its long-anticipated article about Ken Griffin's arrival as "instantly Florida's richest person after moving his family and financial empire to Miami from Chicago." The line in Amanda L. Gordon's dispatch that really caught my attention was the shade cast by Alberto Ibarguen, president and CEO of the Knight Foundation. Gordon quotes Ibarguen as saying, "This is really an inorganic infusion of upper-middle-class and rich individuals that are suddenly coming in and widening the wealth gap even more." "Inorganic"? Ibarguen makes Griffin sound like some kind of chemically fertilized supermarket tomato. Or a cheap pair of polyester pants. Or the vinyl upholstery on the subcompact rental car tourists pick up in the Alamo lot at MIA. What could Ibarguen possibly have been thinking?
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September 5, 2022 at 4:46 pm
"The Federal Department of Education Now Has a Chief Economist. Maybe What It Really Needs Is a Chaplain," is the headline over a column I wrote for Education Next. Please check it out in full if you are interested in that sort of thing. The subheadline is "A Christian case for student loan relief?"
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August 31, 2022 at 6:18 pm
Vanguard is telling account holders that if they want to keep getting paper statements, tax forms, or mutual fund annual reports in the mail and don't have at least $1 million with Vanguard, "you may be subject to a $20 annual account service fee per Vanguard Brokerage Account." The timing of this is strange. After years of gains, the stock and bond markets are down, and Vanguard decides that now it's a good time to stop mailing shareholders statements and mutual fund reports that allow them to see how much they have lost? Also, given that Vanguard has earned a reputation over the years for low fees and for welcoming customers who aren't yet wealthy, the $20 per account for everyone without $1 million seems fairly steep.
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August 25, 2022 at 4:49 pm
August 18, 2022 at 7:47 am
August 17, 2022 at 8:10 am
August 11, 2022 at 7:19 am
August 3, 2022 at 8:48 pm
"Future historians may ask what Biden was busy doing while the Chinese Communists were perpetrating a genocide. What an irony if the answer turns out to be, visiting Yad Vashem," I write in my column this week. Please check out the full column at Newsmax, where it appears under the headline, "For Now, Biden's 'Never Again' Are Empty Words."
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August 2, 2022 at 9:10 pm
The "coastal elite" t-shirt, $34, made in Mexico, 100 percent cotton. "Very popular" according to the salesperson, to the point where there were only two remaining in stock.
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July 31, 2022 at 12:13 pm
An unsigned "insights" article published by Goldman Sachs is headlined "How to Overhaul the Tried-and-Tested Investment Portfolio When Inflation Soars." It reports, "Real assets could be more important in a cycle where inflation is higher than the world has been used to over the past two or three decades. Things like residential real estate can generate profits that exceed inflation. Precious metals and even fine art and classic cars can help protect purchasing power when consumer and commodity prices are climbing quickly." "Classic cars" made me smile. Whether "classic cars" will outperform stocks for investors over whatever time horizon the investor cares about is something I don't know for sure. I don't think Goldman knows for sure, either, which is why it uses carefully crafted cautious language such as "could be" and "can."
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July 28, 2022 at 5:25 pm
July 28, 2022 at 8:52 am
July 27, 2022 at 7:48 pm
If you are a Verizon customer, check your bill carefully. One such bill I saw recently included this language: "Just as you are seeing in your business, Verizon Business is seeing a wide range of increases in its costs to provide service. As these challenges have continued to mount, we have made the decision to add an Economic Adjustment Charge. On June 16, 2022, Verizon Business began adding the charge to newly activated and upgraded lines, existing lines that have completed a contract-based line term, and lines that have twelve (12) months or fewer remaining on a Device Payment Plan Agreement. The amount of the charge is $2.20 per month/line for each smartphone and data device, and $0.98 per month/line for each basic phone and tablet device."
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July 21, 2022 at 8:15 pm
July 20, 2022 at 5:13 pm
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