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This is Who You Are

Regarding the stock market, “If you don’t know who you are, this is an expensive place to find out.” wrote Adam Smith.  Everyone says they are investing for the long term.  The joke is that “long-term” means only until the next bear market for a lot of people.  Were you a long-term investor on 12/31/2019?  Are you still?  Did you rebalance your portfolio?  Panic sell?  Panic buy?  Just panic, but leave the portfolio untouched?  Or maybe you haven’t looked at the particulars because a three month time period doesn’t mean much to you?  Look at your actions this year.  This is who you are. This is Who I Am After the 4th quarter of 2018 when the market ALMOST dropped 20%, I tweaked my rebalancing approach.  That’s not entirely true.  While I rebalance quarterly if needed, I didn’t have a rebalancing approach for big market drawdowns.  Seat-of-the-pants may have been…

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Student Loans

$1.6 trillion of student loan debt is spread among 44 million Americans.  More than even avocado toast or a daily latte, student loans are being blamed for Millennials not being able to afford housing (even though they are the largest home-buying cohort).  Some Presidential hopefuls say they’ve got the answer in just erasing the whole thing.  This is a case of finding a gullible voting bloc and riding them as hard as possible in the hopes of building a warchest to retire on, securing a book deal, and hitting the speaking circuit.  It is a proposal along the lines of the Green New Deal – not so much a serious piece of legislation as it is something to garner mentions in the media. Cynicism aside, I’d love to see student loans wiped out.  “But isn’t this unfair to people who took out loans and paid them off?”  Maybe, but it…