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The Dark Side of Student Loans
Issue #528, June 25, 2018

The Cost of Out-sourcing Convenience
Issue #527, June 18, 2018

Social Security: 66 or 70?
Issue #526, June 11, 2018

Student Loans: There’s (Unfortunately) a Lot More!
Issue #525, June 04, 2018

Co-signing a Note
Issue #524A, May 31, 2018

The Knight Frank Luxury Index and Collectables
Issue #524, May 28, 2018

The Importance of Diversification: The Myth of Diversification
Issue #523, May 21, 2018

How to Save Thousands on Your Food Bill
Issue #522, May 14, 2018

MoviePass and Other Things
Issue #521A, May 10, 2018

Degree Inflation, Long Training Periods, and “Certification”  Part III
Issue #521, May 07, 2018

Degree Inflation, Long Training Periods, and Certification” Part II of III
Issue #520, April 30, 2018

Follow-up on Several Things
Issue #519A, April 25, 2018

Degree Inflation, Long Training Periods, and “Certification”: Part I of II
Issue #519, April 23, 2018

The Kids Birthday Party Hustle
Issue #518A, April 18, 2018

A Pension Question: Part II of II
Issue #518, April 16, 2018

A Physician is an Executive
Issue #517A, April 11, 2018

A Pension Question: Part I of II
Issue #517, April 09, 2018

Is the Correction Over?
Issue #516A, April 05, 2018

Used Car Dealers, Student Loans, the Chinese, and Uncle George’s Rule
Issue #516, April 02, 2018

Starter Homes
Issue #515, March 26, 2018

Redecorating: Beware!
Issue #514, March 19, 2018

NASDAQ Closes at Record High
Issue #513, March 12, 2018

A 40% Chance
Issue #512, March 05, 2018

Several Things
Issue #511, February 27, 2018

Human Capital, Education and Wealth
Issue #510, February 19, 2018

Another Stock Market Update
Issue #509A, February 18, 2018

Some Thoughts on Savings
Issue #509, February 12, 2018

A Stock Market Upfate
Issue #508S, February 10, 2018

Who Can You Trust? Part II of II
Issue #508, February 05, 2018

The Christmas Decoration Pre-worn Jeans Hustle
Issue #Interim Bulletin #507A, February 03, 2018

2018 Outlook for Financial Markets
Issue #507, January 29, 2018

Who Can You Trust? Part I of II
Issue #506, January 22, 2018

Life Insurance Settlements
Issue #505, January 15, 2018

Commodities and Buying the Breakout
Issue #504, January 08, 2018

Buffett Wins His Bet
Issue #503A, January 04, 2018

Practice Real Estate and Free Agency
Issue #503, January 01, 2018

Outlook for 2018: Part III: Stocks and Bonds
Issue #502, December 25, 2017

My Outlook for 2018: Part Ii: Precious Metals
Issue #501A, December 21, 2017

Outlook for 2018: Hard Assets: Part I of III
Issue #501, December 18, 2017

More Thoughts on Bitcoin
Issue #500A, December 14, 2017

Fees and Good Relations with Bankers
Issue #500, December 11, 2017

Salvator Mundi
Issue #499A, December 07, 2017

Should You Rent or Own a Home?
Issue #499, December 04, 2017

A Gift Subscription
Issue #Interim Bulletin #498A, December 02, 2017

Stocks vs Real Estate: Asset Allocation: Part II of II
Issue #498, November 27, 2017

When Good Enough is Fine
Issue #497A, November 22, 2017

Stocks vs Real Estate: Asset Allocation. Part I of II
Issue #497, November 20, 2017

The Saudi Arrests and the Perils of Foreign Investing
Issue #496, November 13, 2017

Gambling and Las Vegas
Issue #495, November 06, 2017

Some Tips on Auto Insurance
Issue #494, October 31, 2017

Bitcoin and the Digital (Crypto) Currencies
Issue #493, October 23, 2017

The Coming Bear Market: Part II How to Prepare
Issue #492, October 16, 2017

Some Observations on Cemeteries
Issue #Interim Bulletin #491A, October 12, 2017

The Coming Bear Market: Part I: The Myth of Buy and Hold Forever
Issue #491, October 09, 2017

The Market makes New Highs
Issue #490, October 02, 2017

The Importance of a New High
Issue #489, September 25, 2017

A Little Insurance: Wealth, War and Wisdom
Issue #488, September 18, 2017

Some Observations
Issue #487, September 11, 2017

How to be Successful in Your Career
Issue #486A, September 07, 2017

How NOT to Buy a Home
Issue #486, September 04, 2017

This Week in the Market
Issue #485, August 28, 2017

Is the “Trump Bump” Running Out of Gas?
Issue #484, August 21, 2017

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

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

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


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.
    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.
    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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