Archive for July, 2009
Wednesday, July 29th, 2009
A few weeks ago we started the weekly item, Articles You Can Send to Your Clients. Clipping articles for your clients is an excellent way of keeping open lines of communication and dialogue, and strengthening the core of your relationship with them. You think about them, you care about them, and you want to motivate them to move forward with you — that is the underlying communication.
Having said that, don’t take shortcuts in this approach. Its very important that you make this a personal effort. By that, I mean, make it more than a simple cut ‘n’ paste job when you do send articles to your clients. Put a personal note, a sympathetic thought or a philosophical thought of your own, to preface the article selection. At the very least, the communications you send should always convey that you are thinking about them.
Here is this week’s selection of articles you cand send to your clients. This week’s selection focuses on how to invest in uncertain times, the bullish outlook for the commodities complex, the recovering economy.
The Wall Street Journal article, “How to Build a Portfolio Wisely and Safely,” provides a framework of thought for constructing a portfolio regardless of your personal assessment of the economy, and shows what assets are best given three outlooks — inflation, deflation, and “goldilocks.” At the very least it demonstrates that balance is what is called for in all economic conditions.
How to Build a Portfolio Wisely and Safely, Jeff Opdyke, Wall Street Journal, July 25, 2009
Inflation or deflation?
Even the experts can’t agree whether rising or falling prices lie in our future.
That leaves investors in a quandary: how to construct a portfolio at a time of great uncertainty. A wrong bet could be devastating. If your portfolio is built for deflation, for example, your assets will slump if the country instead experiences a bout of inflation.
The answer is to prepare for the economic scenario you think is most likely, and then build in some insurance in case you are wrong.
The Globe & Mail interviewed Jim Rogers, the legendary investor, commodities guru and co-founder (with George Soros) of the Quantum Fund. What is Jim Rogers most confident about these days? Commodities, of course. This is an excellent look inside the thoughts of a great long term investor. Commodities are a core thematic portfolio position, particularly in Canada.
Jim Rogers: Commodities are ‘the best place to be’, David Parkinson, Globe & Mail, July 27, 200
With Jim Rogers, the more things change, the more they stay the same.
Mr. Rogers, the legendary investor, commodities guru and co-founder (with George Soros) of the Quantum Fund, has changed his tune from six months ago, when he was short-selling the market and complaining that slow-moving government policy makers “don’t know what they’re doing.” He recently announced that he unwound all those shorts (bearish bets that profit when prices decline) in the wake of massive global injections of government stimulus money and a bottoming-and-rebound in the world’s financial markets.
In fact, like a lot of investors, Mr. Rogers is even feeling confident enough to take on some new long positions. In what, you ask? Commodities. Even after a year of tumultuous and seemingly market-redefining ups and downs, the original commodity bull is still riding the horse he came in on.
The Canadian economy has been the subject of numerous positive reviews during the last week, including from David Rosenberg, a very well-known perma-bear economist, by reputation. There is a very positive tilt on Canada, and for good reason:
David Rosenberg on BNN: Canada’s Recession Ending — July 24, 2009 — David Rosenberg appears on BNN last Friday confirming his view that the Canada is coming out of its recession, that conditions have improved following the exogenous shocks caused by the US credit market collapse.
Canada’s ‘Normal’ Recession set for a ‘Normal’ Recovery — July 15, 2009 — Compared to the U.S., the Canadian economy simply sits on a firmer (financial) foundation: housing fundamentals were stronger going into this mess; unemployment created a migration pattern toward work; saving rates are rising as in the US, but on a smaller wealth effect; and the overall GDP loss in the current cycle is expected to fall short of a recent time-series of Canada’s recession.
Lastly, Thomas Friedman, the noted bestselling author, foreign affairs jounalist, writes about the 59-year old, golf legend, Tom Watson’s inspiring win against today’s new breed of young golf champions at the British Open. Friedman writes that ‘this is a thing.’
59 Is the New 30, Thomas Friedman, New York Times, July 28, 2009
Watching this happen actually widened our sense of what any of us is capable of. That is, when Kobe Bryant scores 70 points, we are in awe. When Tiger Woods wins by 15 strokes, we are in awe. But when a man our own age and size whips the world’s best — who are half his age — we identify.
Tags: Article Selection, Bullish Outlook, Clipping Articles, Commodities, Economic Conditions, Economic Scenario, Goldilocks, Inflation Deflation, Jeff Opdyke, Outlooks, Paste Job, Personal Assessment, Personal Effort, Personal Note, Preface, Quandary, Street Journal Article, Uncertain Times, Wall Street Journal, Wrong Bet
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Tuesday, July 21st, 2009
Tuesday, July 14th, 2009
Tuesday, July 7th, 2009
This is the second in a series of ebooks I’m releasing called The Trust Reader. Each issue will feature a full-length article on trust-related issues, plus synopses and links to two other articles.
The Trust Reader will be published roughly every few months. Articles introduced here will be available thereafter on the trustedadvisor.com website, but you’ll see them here first.
In this issue, the featured article addresses a key question: Does Trust Really Take Time? Here’s why it’s key.
Purportedly, one of the great economic advantages of trust is the time it saves in the conduct of business. I make that claim, as does Steven H.R. Covey, Jr. Yet, the phrase “trust takes time” is routinely asserted by most businesspeople—including those who agree that trust takes time.
Well, does it or doesn’t it? The lead article answers that question, and is contained in its entirety in this issue.
The other two articles are:
Discounting, Price, Value and Psychology — a look at how buyers really think about money in buying. Worried about price cutting? Read this one.
Client Focus vs. Client Focus Lite — are you really client-focused? Or just faking it. Take a hard look in the mirror before you answer, and read this one.
Both these articles are abstracted in this issue, with links provided. All three articles will now join the permanent collection of trust-related articles on Trustedadvisor.com.
The Trust Reader series joins the Trust Matters Primer series—an occasional selection of the best from from the blog Trust Matters.Download the first edition of the Trust Reader here
Trusted Advisor Associates eBook Series on Trust
You can also find previous issues of the Trust Reader here, as well as copies of The Trust Matters Primer here:
If you would like to receive email updates for the Trust Reader and Trust Matters Primer, please subscribe here.
You can find previous articles published by Charles H. Green at http://trustedadvisor.com/cgreen.articles/
As always, if you prefer not to receive our series, simply email me or click the unsubscribe link below to let us know.
Charles H. Green is founder and CEO of Trusted Advisor Associates; read more about Charlie at http://trustedadvisor.com/cgreen/
You can follow him on twitter @CharlesHGreen
Tags: Article Answers, Businesspeople, Client Focus, Covey, Ebook Series, Ebooks, Economic Advantages, Email Updates, Featured Article, Full Length, Lead Article, Length Article, Look In The Mirror, Price Cutting, Psychology, Related Articles, Synopses, Volume 1, Volume 2, Volume 3
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