Archive for July 2011
Financial Advisor or Stockbroker. A Brief History.
Last Updated on April 22, 2021 by John J. Hohn In a recent interview, I was asked whether the 30 basis points charged against Mac McAllister’s $18,900,000 account in Deadly Portfolio: A Killing in Hedge Funds was realistic. 30 basis points is three-tenths of a percent, or $56,700 each year for managing the account. An…
Read MoreMiddle-class Income and Want to Beat Average Market Returns? Forget it!
Last Updated on July 22, 2011 by John J. Hohn Most middle-class families didn’t have much wealth to begin with — about $100,000. For the 22 million families right in the middle of the income distribution (those making between $39,000 and $62,000 before taxes), about 90% of their assets was in the house. Now half…
Read MoreFather and Son
Last Updated on January 25, 2022 by John J. Hohn July 18 is my dad’s birthday. He was born in 1904 and died in 1980 just weeks before attaining age 76. The picture to the right is Dad with my two sons, Joe and Jim, on his lap. The picture was taken when Dad was…
Read MoreWorld War II Eventually Came to Chalkstone, South Dakota
Last Updated on January 25, 2022 by John J. Hohn World War II was real enough to people who lived on the east coast. They knew ships were being sunk every week by German submarines. The explosions on the stricken cargo vessels and tankers could often been seen from the shore. On the west coast,…
Read MoreBanks – appearances count. Honesty not so much.
Last Updated on February 19, 2022 by John J. Hohn Someone wrote that the public tended to trust bankers even when they didn’t think that bankers were very bright. I don’t agree. Mediocrity is the goal at banks. Appearances, however, are of overriding important. I was with a large bank in the Southeast for nearly…
Read MoreSocial Security and What’s in the Boat
Last Updated on January 21, 2022 by John J. Hohn Matthew Wirth describes what the financial side of retirement is like in Deadly Portfolio: A Killing in Hedge Funds. Matthew tells his wife, “No more income . . . just social security for the rest of our lives. We need to live on what we’ve…
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