When Benjamin Franklin was asked to name his “greatest fear” for the future of America, he stated that America was such a resource-rich country in the midst of creating unprecedented prosperity that life could potentially become too easy, and the “ethic” and “virtue” of America would be wiped away by unearned riches. When Alexis de Tocqueville visited America, he echoed similar thoughts by prophesizing that Americans may one day lose sight of the toils and struggles it took to put together the kind of economic engine that the world had never seen before.
As a history major back in the day, those reflections came to mind when I read this recent article from Dan Ritter at Wall Street Cheat Sheet chronicling the fact that most Americans have not been able to participate in the broad market rally that has been dominating the headlines in the United States for the past … Read the rest of this article!
I recently came across an article memorializing the Facebook initial public offering that happened a year ago this month, and I wanted to share a story with you that provides perhaps the cleanest illustration of why I do not try to predict the prices of particular stocks over the short-term (and, in many cases, even the medium term).
This time last year, I was a senior in college at Washington & Lee. Because of a legacy scheduling quirk called “Spring Option”, seniors do not have to take any classes during a special four-week trimester that comes at the end of the academic year if they have already completed all of their credits necessary for graduation. Because I had already completed all of my classes, and being no fool, I gladly took the opportunity to create a nice little month-long vacation for myself.
This meant that I got to spend a … Read the rest of this article!
Today, I wanted to share with you a moment in my life that “changed everything” regarding how I view investing. For those of you who follow my writings about dividend stocks, it might make sense to give you some context on “where I’m coming from” with my articles.
The summer after I completed my freshman year of college at Washington & Lee, I went to stay with one of my friends for a couple days to hang out before I had to start working (that summer, I was a teaching assistant for a program that taught Reading and Math to students from the inner city of St. Louis, and because it was only a six-week program, I was able to enjoy a meaningful summer break and visit friends).
Anyway, my friend’s dad worked with his dad (my friend’s grandfather) to run a boutique investment firm. It was a nice … Read the rest of this article!