With the Holiday Season upon us, this might seem like an odd time to launch this new version of our Evergreen Virtual Adviser (EVA) considering the subject matter. However, no one ever accused me of being normal! Yet, to show that I’m not a distant descendant of Ebenezer Scrooge (at least that I know of), I do want to point out right up front that there are attractive places to invest money these days despite the reality—to be outlined below—that Bubble-mania is fast approaching a fever pitch.
One of the many oddities of our current American culture is its fascination with zombies. The number of TV shows, movies and computer games devoted to these mythical creatures is nearly endless.
I asked myself that very question as the price of Bitcoin doubled from $200 USD to $400 USD over the first two weeks of November 2013. My conclusion was to stick to the investing principle I had been taught by my father at a very young age: never buy into something that is hype-driven.
Cornelius Vanderbilt died in 1877. His fortune was built in the railroad and shipping industry. At the time of his death, he had amassed a fortune worth an estimated $215 billion in today’s dollars (that’s more wealth than Bill Gates and Jeff Bezos combined). In 1977, roughly three generations later, the family gathered at Vanderbilt University (named in his honor) for a family reunion. One family member remarked that there wasn’t a millionaire left among all of the descendants. On the other hand, the Rockefeller empire chugged on like a freight train, becoming one of the gold standards in preserving legacy wealth. Obviously, two families starting with fortunes took very different paths.
In this exclusive Quarterly Webinar, David Hay reviews what’s happening with central banks, inflation, the economy, bubbles and debt, yield curves and spreads, energy and the stock market.