The Coming Generational Storm: What You Need to Know about America’s Economic Future by Laurence J. Kotlikoff and Scott Burns is an excellent analysis of the crisis they see approaching as the baby boomers age. The unfunded liability posed by Social Security and Medicare is staggering. I recommend this book to everyone who wants to know more about this topic.
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Over the years, many people have asked me for investment advice. This section is my answer to the question, “Chip, what are you doing with your portfolio?” It details the portfolio I use to implement my investment strategy— the Plumb Performance Portfolio© |
Further details and return history about the Plumb Performance Portfolio. |
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“...an investor who proposes to ignore near-term market fluctuations needs great resources for safety and must not operate on so large a scale, if at all, with borrowed money. Finally, it is the long-term investor, he who promotes the public interest, who will in practice come in for the most criticism, wherever investment funds are managed by committee or boards or banks. For it is the essence of his behavior that he should be eccentric, unconventional and rash in the eyes of average opinion. If he is successful, that will only confirm the general belief in his rashness, and if in the short run he is unsuccessful, which is very likely, he will not receive much mercy. Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.”
– Lord John Maynard Keynes