ACTION POINT
READ OR REREAD BUFFETT
Read or reread Buffett: The Making of an American Capitalist
- fascinating & detailed portrait
- experiences that shaped him
- obsession with making money
- evolution of investment approach from Benjamin Graham classes
INVEST WITH FUNDS AND FIRMS THAT ARE COMMITTED TO PATIENT INVESTING
INVEST WITH FUNDS AND FIRMS THAT ARE COMMITTED TO PATIENT INVESTING
- Short-term oriented world
- Investors under pressure to fire underperforming funds and hire outperforming funds
- Most investment managers and firms don’t have patience, ability or desire to stick with long-term strategy
OWN SOME U.S. TREASURIES
OWN SOME U.S. TREASURIES
- Safe haven asset class in recession eras
- U.S. rates higher than other developed markets
- Longer maturity = more dramatic price moves
- Every 1% decline in yield:
- – 2-yr Treasury note value + 1.9%
- – 10-yr Treasury note value + 8.6%
- – 30-yr Treasury bond value +19.1%
PAY ATTENTION TO THE FEDERAL RESERVE
PAY ATTENTION TO THE FEDERAL RESERVE
- U.S Central Bank is the most powerful financial institution in the world
- Fed increasingly open about its policies
- What Fed Chairman and Fed policy statements say matter
- Fed decisions affect financial markets and economic conditions globally
- Follow Fed policies on their website www.federalreserve.gov
NORLEY: PLANNED PHILANTHROPY
- Make charitable giving part of your financial plan
- Americans give away hundreds of billions a year
- Need to plan for it financially
USNIK: VALUABLE ADVICE
- CEOs and philanthropists should create a sounding board of millennials
- Get their views on issues that matter to you
- Millennials are the employees, customers and investors of the future
Connect
Connect with us on the following social media platforms.