Given our current economic predicament it’s easy to forget how fortunate we are to live in America; a place where what we frequently consider to be challenges are down right trivial if compared with those in many countries. It can be difficult to imagine an environment where hard work at best yields a meager existence and something as fundamental as safe drinking water is difficult or impossible to obtain. Unfortunately this is the sad reality for much of the world.
Shortly after founding Joseph Graves Capital Management I began looking for practical ways to impact this inequity and recently discovered a simple way to support those working to improve their lot through entrepreneurship by providing microfinance loans. Microfinance was pioneered by Nobel Prize winner Muhammad Yunus and has proved to be an effective means of combating extreme poverty while increasing the living standards of entire communities.
I’ve created a group here:
Managed by World Vision, a not for profit humanitarian organization in Federal Way, WA making it easy to partner with me in this immensely important and personally satisfying endeavor (they even allow you to login with Facebook should you desire).
For less than the cost of a meal at Burgerville you can improve the lives of people in desperate need and in addition to being a tax deductible donation it’s also a great opportunity to do well by doing good.
Please join me in making a real difference in someone’s life; we have 30 days to exclusively fund our first loan to Justine Nibakure a woman from Rwanda to purchase rice, beans, and sugar for resale in her shop.
Financial pundits love citing history and the myriad of anecdotal quotes that extol one strategy or another; comparing valuations and prices to bygone times, confident (or perhaps just hopeful) of a reversion to the mean. But what if the history we are repeating is part of a larger cycle than the last 10, 20, or even 50 years? What if the historical cycle we are allegedly repeating is more significant than just another economic recession? Conversely, what if we are actually in uncharted territory? What if globalization and the information age have plotted a new course, one for which we have no map?
As a country we face significant challenges; ones not simply resolved with collective optimism. Like spoiled children we’ve ignored wisdom and squandered our inheritance; an inheritance not of a monetary endowment but a socio/political/ economic system that allowed hard work, ingenuity, and intelligence to be justly compensated. My chief question is whether we’ll continue down this destructive path blissfully ignorant or wise up, make the necessary adjustments, and hopefully return to the ideals that previously allowed us to prosper.
From an investment perspective multiple possible outcomes is just information; it’s possible to profit in any environment if one is willing to question assumptions, face the facts, and act accordingly. Success depends on preparation for a variety of outcomes, an ability to adapt to changing conditions, and a recognition of the unknown. I plan to be prepared for whatever may come, protect what we have, and take advantage of opportunities as they are uncovered.
Have fun,
Joseph Graves
“In times of change, learners inherit the Earth, while the learned find themselves beautifully equipped to deal with a world that no longer exists.”
-Eric Hoffer
Everything you need to know about economics.
Many financial planners are likable people, charismatic and well intentioned but what most investors fail to understand is that the typical stock broker, financial planner, and insurance agents are nothing more highly paid financial product pushers. Do not allow yourself to be seduced by a smooth talking salesman ever again. A decent adviser should have no problems answering the following questions and at the very least they will help you better understand the motivation, goals, and priorities of the investment representative you are working with or considering.
Ideally several other advisers would be interviewed as well to provide a basis for comparison (Here are my 13 Answers). If after contemplating all of the responses it reinforces the level of satisfaction with your current adviser thank them for a job well done. However if these questions exposed some uncertainty in your existing relationship, they can also be used as a starting point for developing a new one.
Sharing this information is my way of exposing ridiculous policies of and creating change in the financial services industry.
“He who answers before listening; that is his folly and his shame”
by Proverbs 18:13