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Gold is on the Move
Issue #483, August 14, 2017

The Importance of Estimation
Issue #482, August 07, 2017

Buying Art and Collecting: Part II of II
Issue #481, July 31, 2017

Buying Art and Collecting in General, Part I of II
Issue #480, July 24, 2017

Physicians need to be More Forceful: Follow-up
Issue #479, July 17, 2017

Physicians need to be More Forceful
Issue #478, July 10, 2017

Your First “Real” Investment
Issue #477, July 03, 2017

Leasing a Watch: Don’t
Issue #476, June 26, 2017

The Importance of Your Children having a Job
Issue #475, June 16, 2017

The Problem with Medical Student Debt is—the Med Schools
Issue #474, June 12, 2017

Critters and Varmints in your Home and Yard
Issue #473A, June 07, 2017

Leveraged ETFs
Issue #472, May 29, 2017

Leasing a Vehicle: Don’t!
Issue #471, May 22, 2017

Escheat
Issue #470, May 15, 2017

More on Buying Jewelry
Issue #469, May 08, 2017

Buying Jewelry: Gold, Diamonds and Pearls
Issue #468, April 30, 2017

Thomas Sowell: Part III of III
Issue #467, April 24, 2017

Thomas Sowell: Pat II of III
Issue #466, April 17, 2017

Live Close to Where You Work
Issue #465, April 10, 2017

Medtronic in Hospital Management
Issue #Interim Bulletin #464A, April 07, 2017

Thomas Sowell: Part I of II
Issue #464, April 03, 2017

A Political Contribution a an Investment: Part II of II
Issue #463, March 27, 2017

A Political Contribution as an Investment: Part I of II
Issue #462, March 20, 2017

Buffett Selling Vacation Home
Issue #461, March 13, 2017

Advanced Placement (AP) ourses
Issue #460, March 06, 2017

The Importance of a Credit History
Issue #459A, March 02, 2017

A Credit Card Scam
Issue #459, February 27, 2017

The Electronic Health Reord
Issue #458, February 20, 2017

Contracts
Issue #457, February 13, 2017

Platinum and Palladium
Issue #456, February 06, 2017

Economic Outlook for 2017: Part II of II
Issue #455A, February 02, 2017

Economic Outlook for 2017: Part I of II
Issue #455, January 30, 2017

A Story From Vegas
Issue #454A, January 25, 2017

Land Donation Deals and the IRS
Issue #454, January 23, 2017

The Theory of Gambler’s Ruin
Issue #453, January 16, 2017

Student Loans: But Wait, There’s More!
Issue #452, January 13, 2017

A Second Home
Issue #Interim Bulletin #451A, January 04, 2017

The Consumer Confidence Index
Issue #451, January 02, 2017

Social Security
Issue #450, December 26, 2016

My Outlook for 2017: Part II of II
Issue #449, December 19, 2016

My Outlook for 2017: The Market
Issue #448, December 12, 2016

Medicine in 20 Years
Issue #447, December 05, 2016

Higher Interest Rates
Issue #446, November 28, 2016

Trump and the Markets: The Bad and Ugly
Issue #445A, November 23, 2016

Trump and the Markets: The Good
Issue #445, November 21, 2016

Negative Trends: The Suits aren’t Makin’ Steel
Issue #444, November 16, 2016

The New DOJ Fiduciary Rule
Issue #443, November 07, 2016

Barron’s Conference, Part IV of IV
Issue #442, October 31, 2016

Barron’s Conference, Part III of IV
Issue #Interim Bulletin #441A, October 26, 2016

Barron’s Conference, Part II of IV
Issue #441, October 24, 2016

Barron’s Conference, Part I of IV
Issue #440, October 20, 2016

This Newsletter
Issue #439A, October 12, 2016

Memoirs of US Grant: Vol II
Issue #439, October 10, 2016

More Points on Collecting, Investing and the Economy
Issue #Interim Bulletin #438A, October 05, 2016

Personal Memoirs of US Grant
Issue #438, October 03, 2016

Ideas for a High School Part-Time Job
Issue #Interim Bulletin #437A, September 29, 2016

Collecting, Investing, and the Economy
Issue #437, September 26, 2016

Free College
Issue #436A, September 22, 2016

A Military Commitment to Pay for Med School
Issue #436, September 19, 2016

When a CD isn’t a CD
Issue #435, September 12, 2016

I Made a Mistake
Issue #Interim Bulletin #434A, September 07, 2016

What is Your Spare Time Worth?
Issue #434, September 05, 2016

Credit Cards and Bonus/Loyalty Points
Issue #433, August 29, 2016

The Write-off of Student Loans
Issue #Interim Bulletin #432A, August 25, 2016

412 Retirement Plans
Issue #432, August 22, 2016

Join the Club
Issue #Interim Bulletin #431A, August 18, 2016

The Case for Precious Metals and Hard Assets
Issue #431, August 15, 2016

When the US went off the Silver Standard
Issue #430, August 08, 2016

Why NOT to Open a Restaurant
Issue #429, August 01, 2016

Some Tips on Life Insurance
Issue #428, July 25, 2016

More Observations on Negative Interest Rates
Issue #427, July 18, 2016

Embezzlement
Issue #426, July 11, 2016

Is a PhD Worth It? Part II of II
Issue #425, July 04, 2016

Is a PhD Worth It? Part I of II
Issue #424, June 27, 2016

Avoid Part-time real Estate Agents
Issue #423, June 20, 2016

The VIX
Issue #422, June 13, 2016

The Problem with Auction Reserves
Issue #421, June 06, 2016

Make Full Use of Your Capital Investments
Issue #420, May 30, 2016

The Fed’s Announcement
Issue #419, May 23, 2016

Quit While You’re Ahead: A True Story
Issue #418, May 16, 2016

The Precious Metals
Issue #417, May 09, 2016

Negative Secular Trends: Part Ii of II
Issue #416, May 02, 2016

Negative Secular Trends: Part I of II
Issue #415, April 25, 2016

Not Winning is not the same as not Losing
Issue #414, April 19, 2016

Behavioral Economics: Part II: Weaknesses
Issue #413, April 11, 2016

Behavioral Economics: Part I: Valid Points
Issue #412, April 04, 2016

The Most Important Books I’ve Read
Issue #411, March 28, 2016

Secret to Success: Take Risks and do Things Differently
Issue #410, March 21, 2016

The Over-Priced Food Presentation Hustle
Issue #409, March 14, 2016

The War on Cash
Issue #408, March 07, 2016

Precious Metals: Don’t Jump in Yet
Issue #407, February 29, 2016

The Bear is Growling
Issue #406, February 22, 2016

The Importance of Showing Respect
Issue #405, February 15, 2016

The 80-20 Rule of Thumb Pareto Principle
Issue #404, February 08, 2016

Some Tips on Commercial Real Estate
Issue #403, February 01, 2016

Economic Outlook for 2016
Issue #402, January 25, 2016

Selling Short: Part II of II
Issue #401, January 18, 2016

Short-Selling. Part I. How it Works
Issue #400, January 11, 2016

Who Can You Trust, and How to Spot a Con Man
Issue #399, January 04, 2016

Outlook for 2016: Part II of II
Issue #398, December 28, 2015

THE PHYSICIAN INVESTOR NEWSLETTER

HELPING PHYSICIANS ATTAIN FINANCIAL SECURITY
By Robert M. Doroghazi, M.D., F.A.C.C.

Some Tips on Life Insurance

Issue #428, July 25, 2016

    With so many policemen being ambushed and murdered, I wondered if someone in a profession where they could lose their life doing their job, had to pay higher rates for life insurance, so I asked a neighbor who is a retired insurance executive. He said that, in general, their life insurance rates are about the same. For some professions, such as sky diver, there is often a surcharge, but the difference is usually not that great. I asked about servicemen. He said rates are the same, and it makes no difference if war has been declared.
    He then noted there are still many smaller insurance companies that specialize in offering life insurance to targeted groups. These are always mutual companies: that is, owned by the policy holders. They are almost never stock companies, and are thus not in a position to be bought out. He mentioned USAA, which offers a wide range of insurance and financial services, even mutual funds, but got its start and still specializes in providing life insurance to current or past members of the US Military. He says they are very responsive to the policy holders, who love them.
    Recommendations:
    1) If you are current or ex-military and need life insurance, consider USAA. I don’t know if family members are eligible: you would need to check if interested.
    2) There are still many smaller niche life insurance companies, based on profession, religion, nationality, etc. The Verhovay (now the Wm. Penn Association) was a fraternal organization for Hungarian immigrants. Grandpa Nagy collected life insurance premiums for them during the Great Depression. 
    3) Organization such as AARP will contract with insurance carriers to offer their members insurance products at prices an individual could not otherwise obtain.
    I had planned on reviewing a previous newsletter on “Why NOT to Open a Restaurant” (Issue #61, April 6, 2009), but will save that for next week.
                                                                  RMD
    I believe the primary target of the central bankers is no longer employment or inflation or interest rates, it’s the stock market. They will do everything they can to prop it (and all asset prices, including housing) up and keep the good times rolling.
    Although the market appears over-bought in the very near term, the low of the Brexit move may represent an intermediate term low. Note also that the VIX is low, signaling either clear sailing or over-complaceny. The breakout to a new high is important. This is in the context of 1) September and October can be bad months and 2) The market will start to handicap the election. If Trump wins, there will almost certainly be fiscal stimulus, which will goose the market (for a while).
    All of this funny (fiat) money will eventually trash the currencies, which are the big game in town. The precious metals sense this, and have been on fire. Likewise, they are due for a rest. The US Dollar has been strengthening, which is bad for gold in the near term. Most important is that I believe the precious metals market bottomed in December. I will buy on any further weakness. 
    A subscriber likened the European Union to the US under the Articles of Confederation, and thought it is doomed to the same fate.
    RMD comment: a beautiful analogy that I never considered. The Confederation and the European Union failed/will fail because they don’t have the power to tax. The Euro is backed by the European Central Bank, which is backed by nothing. The US Dollar is backed by the Federal Reserve, which is backed by the full faith and credit of the US Treasury (the taxing power of the US, the largest, and most vibrant economy in the world). The US Dollar is further backed by the 1.1M members of our Armed Forces.
    To show how dysfunctional the EU is, in an interview Bob Moriarty of 321gold says there are 12,643 laws regarding milk, and 50 pages on how much water is to be used when you flush the toilet.
    From Universal Man: The Lives of John Maynard Keynes (Davenport-Hines, Basic Books). “Politicians rely on diffusing apprehension, and use opacity and muddle to advance their interests”.
    Keynes came to the US in the early 40s to improve handling of the Lend-Lease. “He was exasperated by the American…dependence on lawyers. He trusted intuition, and objected to lawyers because they codified human experience, treated intuitive thinking as hazardous, were paid to find pitfalls, inhibited their clients, propagated dehumanizing legalese and busied themselves making good sense illegal”.
    RMD comment: aside from these pithy comments, I was disappointed with this book. Spend your time and money elsewhere.
    This letter is shorter than most, but it’s better to say nothing than something stupid. One thing I will say is that the current political situation has me physically upset to my stomach. It’s like Diogenes carry a lamp during daytime to find an honest man: it’s getting tougher and tougher to find decent people of integrity running for political office.

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