ASB Partners Nuggets 10.11.24
This is a short weekly email that covers a few things I’ve found interesting during the week.
Interesting Links/Reads
Flypaper Effect of Holding onto cash even when rates start falling WSJ (Don’t be blazy!)
3. How to Arb gold bullion at Costco with the 4% back credit card
4.. Wimbledon to replace all of its human line judges.
Podcast/Videos
COWEN: Are there any conspiracy theories you believe in? Because I’ve asked myself this question. There’s very few, but there are a few.
SCANLON: What do you believe in?
COWEN: I think JFK probably was killed by more than one gunman, but not for sure. I think there was some concerted effort to adjust the timing of the arrival of the vaccinations before the election. I think more sports events are fixed than we realize. Those would be the three I’m inclined to believe in. It’s hard for me to think of others.
SCANLON: Do you think they’re fixed because of gambling?
COWEN: Yes, just gambling. It’s often the referees more than the players — or team coaches or someone who knows about an injury. There’s now betting on how many rebounds did you pull down? Some of it’s even the players. There is this one guy in Toronto — he’s been banned from the NBA. I suspect that’s tip of the iceberg. But those are my only conspiracy theories. I feel impoverished.
SCANLON: Yes, and then I think if my money’s going toward them, I should probably put some money toward them as a stock. I try to not look at my portfolio as much as I can. I bought up some Treasuries when rates were super high. It’s just about paying attention, diversifying. There’s the saying, time in the market beats timing the market, which I think is what you’re saying with the younger people having a long time horizon. I think it’s really just about starting.
Going back to that chart that I referenced earlier, the bottom 50 percent — all their wealth is in real estate. The top 10 percent — all their wealth is in equity ownership and businesses. There’s the example right there — the top 10 percent own stocks. I think the more that we can encourage people to have some sort of stock portfolio, perhaps outside of their 401(k), the better. Sixty-two percent of Americans do own stocks, but it would be nice if that was higher.
I hope you enjoyed it.
Adam