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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

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


By Robert M. Doroghazi, M.D., F.A.C.C.

Want to Live a Long Time?

Issue #396, December 14, 2015

    Some time ago, Warren Buffett was asked “Now that you’re the richest man in the United States, what do you want”? He replied (I am paraphrasing) “I want to be the oldest. When they look at me in my casket, I want them to say “He was old”. John D. Rockefeller was meticulous about his health and made it to 98 years, 10 months (July, 1839 – May, 1937).
    I just returned from Dr. William C. Roberts’ 42nd annual Williamsburg Cardiology Conference, held over Illumination Weekend in Historic Williamsburg, VA. I have attended 8 times, spoken thrice, and believe this is the best clinical cardiology conference in the country. I strongly recommend it to you. Next year’s conference will be December 4-6, 2016. Go to   .(JavaScript must be enabled to view this email address) 
    If we could prevent premature deaths, our genome has programmed us to live about 90 years. Dr. Roberts discussed the simple steps you can take to make it to that age.
    Atherosclerosis is the cause of almost all heart attacks, most strokes, and many other problems. All of the traditional risk factors, including high blood pressure (see below), smoking, obesity, diabetes and stress drop out without cholesterol. Dr. Roberts argues, and I agree, that atherosclerosis is a disease of high cholesterol.
    In nature, herbivores don’t have atherosclerosis. But feed monkeys and rabbits a high cholesterol diet, and they develop atherosclerosis identical to humans. Roberts notes that humans are herbivores: large amounts of meat were not meant to be a part of our diet.
            Feature                   Carnivore               Herbivore
            Teeth                       Sharp                   Rounded
            Intestines         Short (3X Body Length)    Long (12X BL)
            Fluids                       Lap                     Sip (*)
            Cooling                     Pant                     Sweat
            Appendages               Claws                 Hands or Hoofs
            Vitamin C               Self-made                 Diet
    Here is the bottom line:
Your goal is to have an LDL (bad cholesterol) less than 70.
    Cholesterol numbers that were previously considered OK are not OK. Unfortunately, many physicians are still very far behind the curve. If your LDL is above 100, it is too high. Dr. Roberts feels, and I agree, that the cholesterol-lowering statins are the most important medicines in cardiology. I have taken a statin for more than 25 years (My latest numbers are Total Cholesterol = 145, Triglycerides = 59, LDL = 71 and HDL = 65).
    Also note that a systolic blood pressure of 120 is now considered ideal.
    The other things you can do to have the best chance of living the longest are:
    1) No more than 2 alcoholic beverages per day.
    2) BMI (Body Mass Index) of 20-25.
    3) Exercise. How often? The best advice I’ve heard is “Exercise as often as you eat”.
    4) Don’t smoke.
    5) Wear your seat belt.
    6) Keep your vaccinations, including flu shot, up to date.
    (*): Dr. Roberts said (half-jokingly) that he has seen some men at the bar who appeared to lap their drinks.
    So what fueled the market rout on Friday? Oil dropped to a multi-year low, not only on a continued supply glut, but slack demand, suggesting a weak economy.
    But I think more important was the demise of Third Avenue Focused Credit Fund. The fund has barred investor withdrawals and will liquidate because of the poor performance of the high-yield (junk) bonds.
    RMD comment: Investors are rightfully spooked by forced liquidations and inability to get their money back. It always raises the question: is there more to come?
    I had originally intended this letter be my Outlook for 2016. Instead, I’m delaying that until next week to see if the Fed will raise interest rates (they probably will, but it’s not the best thing to do), and the market’s reaction. In the meantime, if the DJIA drops below the mid-November low of 17,250, it will probably mean that we have seen the high. Please be careful. 
    There was an article in the Wall Street Journal (12/1/15) on Negative Interest Rates (discussed in Issue #394, 12/1/15). It notes that in Denmark, some people with adjustable-rate mortgages are receiving a payment every month from the bank: the borrower pays the principal, but receive a refund for the negative interest rate. Not surprisingly, home prices in Denmark have surged.
    RMD comment: As several Barron’s Roundtable members have observed, the Fed (and other central banks) are in uncharted territory.

    On Sunday evening, December 6, President Obama spoke to the nation about the rising threat of domestic terrorism. The headline in the next day’s Wall Street Journal was “Obama Aims to Reassure Jittery Nation “.
    RMD comment: I’m not sure it worked. The firearm manufacturers Smith & Wesson (SWHC) and Ruger (RGR) immediately shot up (kind of a weak pun) on huge volume.
    I highly recommend Genghis Khan: His Conquests, His Empire, His Legacy (McLynn, Da Capo Press). We have the impression of Khan as a barbarian thug. He was, of course, a military genius. But he was also an administrative genius and master politician. Moreover, he was a great judge of talent, and had the self-confidence to surround himself with talented people. But what impressed me the most was his ability to accept new ideas and technologies. Ex: Khan had never seen or even heard of a book, but when writing was explained to him, he immediately recognized its power and made Uighur the official script of the Empire.
    I also recommend Phishing for Phools: The Economics of Manipulation and Deception by Nobel winners George Akerlof (married to Janet Yellon) and Robert Shiller (one of my favorite authors). In fact, I may do a newsletter on this book at some time in the future. They devote a chapter to the two completely legal yet highly addictive nicotine and alcohol. They argue quite convincingly that we grossly underestimate the problems with alcohol, especially the social effects: i.e., family life and job.

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