Happy Father's Day to all of the Fathers, may it be a special day. At the end is a segment on the history of the day.
Summer Stalemate
In the game of chess, a stalemate occurs when neither side can win. This same thing is happening this summer between stocks and bonds. This summer we have seen some significant events in Europe with Russia and Ukraine and in Iraq. In the past this would have sent stock prices lower and bond yields lower. This summer both stock prices and bond yields have held relatively steady.
This has been somewhat surprising as some large investors and hedge fund managers have invested in financial derivatives like options and futures contracts with the result being financial loss. These experts believed that they had sufficient insight and could predict the future.
The best strategy for the summer stalemate, and in general, is to keep the appropriate portfolio blend of high quality investments that matches an individual's risk level. If an event occurs that creates a loss in stock market indexes of 10% or more, a prudent investor shifts temporarily and takes advantage of it. Personally, I hope the summer stalemate continues.
Father's Day History - Wikipedia
Father's Day was inaugurated in the United States in the early 20th century to complement Mother's Day in celebrating fatherhood and male parenting.
After the success obtained by Anna Jarvis with the promotion of Mother's Day in the US, some wanted to create similar holidays for other family members, and Father's Day was the choice most likely to succeed. There were other persons in the US who independently thought of "Father's Day", but the credit for the modern holiday is often given to Sonora Dodd, who was the driving force behind its establishment.
Father's Day was founded in Spokane, Washington at the YMCA in 1910 by Sonora Smart Dodd, who was born in Arkansas. Its first celebration was in the Spokane YMCA on June 19, 1910. Her father, the Civil War veteran William Jackson Smart, was a single parent who raised his six children there. After hearing a sermon about Jarvis' Mother's Day in 1909, she told her pastor that fathers should have a similar holiday honoring them. Although she initially suggested June 5, her father's birthday, the pastors did not have enough time to prepare their sermons, and the celebration was deferred to the third Sunday of June.
It did not have much success initially. In the 1920s, Dodd stopped promoting the celebration because she was studying in the Art Institute of Chicago, and it faded into relative obscurity, even in Spokane. In the 1930s Dodd returned to Spokane and started promoting the celebration again, raising awareness at a national level. She had the help of those trade groups that would benefit most from the holiday, for example the manufacturers of ties, tobacco pipes, and any traditional present to fathers. Since 1938 she had the help of the Father's Day Council, founded by the New York Associated Men's Wear Retailers to consolidate and systematize the commercial promotion. Americans resisted the holiday during a few decades, perceiving it as just an attempt by merchants to replicate the commercial success of Mother's Day, and newspapers frequently featured cynical and sarcastic attacks and jokes. But the trade groups did not give up: they kept promoting it and even incorporated the jokes into their adverts, and they eventually succeeded.
A bill to accord national recognition of the holiday was introduced in Congress in 1913. In 1916, President Woodrow Wilson went to Spokane to speak in a Father's Day celebration and wanted to make it official, but Congress resisted, fearing that it would become commercialized. US President Calvin Coolidge recommended in 1924 that the day be observed by the nation, but stopped short of issuing a national proclamation. Two earlier attempts to formally recognize the holiday had been defeated by Congress. In 1957, Maine Senator Margaret Chase Smith wrote a proposal accusing Congress of ignoring fathers for 40 years while honoring mothers, thus "singling out just one of our two parents". In 1966, President Lyndon B. Johnson issued the first presidential proclamation honoring fathers, designating the third Sunday in June as Father's Day. Six years later, the day was made a permanent national holiday when President Richard Nixon signed it into law in 1972.
Sunday, June 22, 2014
Kenya Update
I have returned from a trip to Kenya with my daughter Becca. Becca has started a business, Rafiki Kenyan Imports LLC, to help needy families in Kenya particularly in Nairobi and a remote village area about 5 hours outside of Nairobi. The trip gave me an excellent opportunity to investigate investing opportunities.
My view from a corporate investment perspective is that Kenya and neighboring countries should be avoided. While the people we met were wonderful the attitude to corporations is not favorable and corruption appears to be widespread. The country has a fair amount of poverty that provides incentive for people to improve their financial situation by corruption. This means that little incentive exists for a corporations to take a financial risk.
It is interesting that the only US food company present was KFC. So while McDonald's and Starbucks are prevalent in China, they have avoided Kenya. It appears likely that a successful corporation would suffer from interactions with the government including being nationalized.
If you want to go on a Safari, Kenya is a wonderful place to go. If you want to meet wonderful and unique people it is a wonderful place to go. If you want to attend a worship service, lots of churches are present. If you want to invest in corporations avoid Kenya and the surrounding countries.
Kenya - From Wikipedia, the free encyclopedia
Motto: "Harambee" (Swahili) "Let us all pull/pool together"
Anthem: Ee Mungu Nguvu Yetu (Swahili) O God of all creation
Kenya (/ˈkɛnjə/ or /ˈkiːnjə/), officially the Republic of Kenya, is a country in the African Great Lakes region of East Africa. Its capital and largest city is Nairobi. Kenya lies on the equator with the Indian Ocean to the south-east, Tanzania to the south, Uganda to the west, South Sudan to the north-west, Ethiopia to the north and Somalia to the north-east. Kenya covers 581,309 km2 (224,445 sq mi) and has a population of approximately 44 million as of July 2012.
Kenya has a warm, humid climate along its Indian Ocean coastline, with wildlife-rich savannah grasslands inland towards the capital. Nairobi has a cool climate which becomes colder closer to Mount Kenya, which has three permanently snow-capped peaks. Further inland, there is a warm and humid climate around Lake Victoria, and temperate forested and hilly areas in the western region. The northeastern regions along the border with Somalia and Ethiopia are arid and semi-arid areas with near-desert landscapes. Lake Victoria, the world's second largest fresh-water lake and the largest tropical lake, is situated to the southwest and is shared with Uganda and Tanzania. Kenya, along with Uganda and Tanzania is famous for its safaris and diverse wildlife reserves and national parks such as the East and West Tsavo National Park, the Maasai Mara, Lake Nakuru National Park, and Aberdares National Park. There are several world heritage sites such as Lamu; there are also many world renowned beaches, such as Kilifi, where international yachting competitions are held each year.
The African Great Lakes region, which Kenya is a part of, has been inhabited by humans since the Lower Paleolithic period. The Bantu expansion reached the area from West-Central Africa by the first millennium AD and the borders of the modern state comprise the crossroads of the Niger-Congo, Nilo-Saharan and Afro-Asiatic ethno-linguistic areas of the continent, making Kenya a multi-cultural country. European and Arab presence in coastal Mombasa dates to the Early Modern period; European exploration of the interior began in the 19th century. The British Empire established the East Africa Protectorate in 1895, known starting in 1920 as the Kenya Colony. The Republic of Kenya became independent in December 1963. Following a referendum in August 2010 and adoption of a new constitution, Kenya is now divided into 47 semi-autonomous counties, governed by elected governors.
The capital, Nairobi, is a regional commercial hub. The economy of Kenya is the largest by GDP in Southeast and Central Africa. Agriculture is a major employer; the country traditionally exports tea and coffee and has more recently begun to export fresh flowers to Europe. The service industry is also a major economic driver. Kenya is a member of the East African Community. Compared to other African countries, Kenya enjoys relatively high political and social stability.
My view from a corporate investment perspective is that Kenya and neighboring countries should be avoided. While the people we met were wonderful the attitude to corporations is not favorable and corruption appears to be widespread. The country has a fair amount of poverty that provides incentive for people to improve their financial situation by corruption. This means that little incentive exists for a corporations to take a financial risk.
It is interesting that the only US food company present was KFC. So while McDonald's and Starbucks are prevalent in China, they have avoided Kenya. It appears likely that a successful corporation would suffer from interactions with the government including being nationalized.
If you want to go on a Safari, Kenya is a wonderful place to go. If you want to meet wonderful and unique people it is a wonderful place to go. If you want to attend a worship service, lots of churches are present. If you want to invest in corporations avoid Kenya and the surrounding countries.
Kenya - From Wikipedia, the free encyclopedia
Motto: "Harambee" (Swahili) "Let us all pull/pool together"
Anthem: Ee Mungu Nguvu Yetu (Swahili) O God of all creation
Kenya (/ˈkɛnjə/ or /ˈkiːnjə/), officially the Republic of Kenya, is a country in the African Great Lakes region of East Africa. Its capital and largest city is Nairobi. Kenya lies on the equator with the Indian Ocean to the south-east, Tanzania to the south, Uganda to the west, South Sudan to the north-west, Ethiopia to the north and Somalia to the north-east. Kenya covers 581,309 km2 (224,445 sq mi) and has a population of approximately 44 million as of July 2012.
Kenya has a warm, humid climate along its Indian Ocean coastline, with wildlife-rich savannah grasslands inland towards the capital. Nairobi has a cool climate which becomes colder closer to Mount Kenya, which has three permanently snow-capped peaks. Further inland, there is a warm and humid climate around Lake Victoria, and temperate forested and hilly areas in the western region. The northeastern regions along the border with Somalia and Ethiopia are arid and semi-arid areas with near-desert landscapes. Lake Victoria, the world's second largest fresh-water lake and the largest tropical lake, is situated to the southwest and is shared with Uganda and Tanzania. Kenya, along with Uganda and Tanzania is famous for its safaris and diverse wildlife reserves and national parks such as the East and West Tsavo National Park, the Maasai Mara, Lake Nakuru National Park, and Aberdares National Park. There are several world heritage sites such as Lamu; there are also many world renowned beaches, such as Kilifi, where international yachting competitions are held each year.
The African Great Lakes region, which Kenya is a part of, has been inhabited by humans since the Lower Paleolithic period. The Bantu expansion reached the area from West-Central Africa by the first millennium AD and the borders of the modern state comprise the crossroads of the Niger-Congo, Nilo-Saharan and Afro-Asiatic ethno-linguistic areas of the continent, making Kenya a multi-cultural country. European and Arab presence in coastal Mombasa dates to the Early Modern period; European exploration of the interior began in the 19th century. The British Empire established the East Africa Protectorate in 1895, known starting in 1920 as the Kenya Colony. The Republic of Kenya became independent in December 1963. Following a referendum in August 2010 and adoption of a new constitution, Kenya is now divided into 47 semi-autonomous counties, governed by elected governors.
The capital, Nairobi, is a regional commercial hub. The economy of Kenya is the largest by GDP in Southeast and Central Africa. Agriculture is a major employer; the country traditionally exports tea and coffee and has more recently begun to export fresh flowers to Europe. The service industry is also a major economic driver. Kenya is a member of the East African Community. Compared to other African countries, Kenya enjoys relatively high political and social stability.
Why Retirees are in Trouble - Time, June 30, 2014 Edition
It is that time of year for thunderstorms and the College World Series in Omaha Nebraska. At the end is some historical information on the College World Series.
The topic for this week comes from an article in Time magazine. It gives great information and 5 steps to consider to improve this situation. Take the data with a grain of salt since it is difficult to predict the future. The 5 steps make sense.
Why Retirees are in Trouble - Time
Information:
1) Boomers are Piling into Retirement: 13% in 2012 growing to 18% in 2020
2) The projected year to reach a balance of $0: Medicare = 2026, Social Security = 2033
3) People aren't saving enough income, % disposable income saved: 1970 = 13%, 2013 = 5%
4) Medical Expenses Rise, % out of pocket 70 year old pays: Today = 8%, 20 years from now = 15%
5) Wages aren't closing the gap in 2011 dollars: 1973 = about $15/hour, 2010 = about $16/hour
How to Prepare:
1) Work Longer and delay when you collect Social Security benefits
2) Pool resources - live together with family or friends
3) Auto-deduct retirement savings from your salary
4) Use lower cost mutual funds
5) Tap into the equity of your home by either downsizing or a reverse mortgage
College World Series - Wikipedia
Since 1950, the College World Series (CWS) has been held in Omaha, Nebraska. It was held at Rosenblatt Stadium from 1950 through 2010; starting in 2011, it has been held at TD Ameritrade Park Omaha. Earlier tournaments were held at Hyames Field in Kalamazoo, Michigan (1947–48) and Wichita, Kansas (1949). The name "College World Series" (CWS) is derived from that of the Major League Baseball World Series championship; it is currently an MLB trademark licensed to the NCAA.
On June 10, 2009, the NCAA and College World Series of Omaha, Inc., which is the non-profit group that organizes the event, announced a new 25-year contract extension, keeping the CWS in Omaha through 2035. A memorandum of understanding had been reached by all parties on April 30.
The new contract began in 2011, the same year the tournament moved from Johnny Rosenblatt Stadium to TD Ameritrade Park Omaha, a new ballpark across from CenturyLink Center Omaha.
1947 – Eight teams were divided into two, four-team, single-elimination playoffs. The two winners then met in a best-of-three final in Kalamazoo, Michigan.
1948 – Similar to 1947, but the two, four-team playoffs were changed to double-elimination tournaments. Again in the finals, the two winners met in a best-of-three format in Kalamazoo.
1949 – The final was expanded to a four-team, double-elimination format and the site changed to Wichita, Kansas. Eight teams began the playoffs with the four finalists decided by a best-of-three district format.
1950–1987 – An eight-team, double-elimination format for the College World Series coincided with the move to Omaha in 1950. 1950–1953, a baseball committee chose one team from each of the eight NCAA districts to compete at the CWS. Through 1987 the College World Series was a pure double-elimination event. That ended with the 1987 College World Series.
1988–1998 – The format was changed beginning with the 1988 College World Series, when the tournament was divided into two four-team double-elimination brackets, with the survivors of each bracket playing in a single championship game. The single-game championship was designed for network television, with the final game on CBS on a Saturday afternoon.
Before expanding to 64 teams in 1999, the Division I tournament began with 48 teams, split into 8 six-team regionals. The winner of each regional advanced to the College World Series. The regionals were a test of endurance, as teams had to win at least four games over four days, sometimes five if a team dropped into the loser's bracket, placing a premium on pitching. In the last two years of the six-team regional format, the eventual CWS champion – (LSU in 1997 and Southern California in 1998) – had to battle back from the loser's bracket in the regional to advance to Omaha.
1999-2002 – With some 293 Division I teams playing, the NCAA switched to a 64-team, Regional field in 1999, with 8 National (super) Seed teams, divided into 16 four-team regionals (each team seeded 1 to 4), with the winners of each of the 16 "Regionals" advancing to eight two-team, best-of-three-format "Super Regionals". The eight Super Regional winners advanced to the CWS in Omaha, NE. In 2008, a number-4-seeded Regional team, the lowest seeding possible (akin to a #13-16 seed in college basketball's March Madness) – the Fresno State Bulldogs – won the CWS championship, against the Bulldogs of the University of Georgia, winning two of three in the championship series. While the CWS format remained the same, the expanded field meant that eight super regional champions would advance. The 64-team bracket is set at the beginning of the championship and teams are not reseeded for the CWS. Since the 1999 College World Series, the four-team brackets in the CWS have been determined by the results of regional and super-regional play, much like the NCAA basketball tournament. Prior to 1999, the pairings for the CWS were not determined until after the completion of the regional tournaments.
2003–Present – The eight super regional champions advance into two, four-team brackets. The eight super regional winners are not reseeded for the CWS. Those two brackets play double-elimination with the bracket winners then meeting in a best-of-three championship series. Also, in 2003, the tournament returned entirely to cable television on ESPN, which had been covering all of the other games of the CWS since 1982 (and a partial schedule since 1980).[4] The championship final became a best-of-three series between the two bracket winners, with games scheduled for Saturday, Sunday, and Monday evenings. In the results shown here, Score indicates the score of the championship game(s) only. In 2008, the start of the CWS was moved back one day, and an extra day of rest was added in between bracket play and the championship series.
The topic for this week comes from an article in Time magazine. It gives great information and 5 steps to consider to improve this situation. Take the data with a grain of salt since it is difficult to predict the future. The 5 steps make sense.
Why Retirees are in Trouble - Time
Information:
1) Boomers are Piling into Retirement: 13% in 2012 growing to 18% in 2020
2) The projected year to reach a balance of $0: Medicare = 2026, Social Security = 2033
3) People aren't saving enough income, % disposable income saved: 1970 = 13%, 2013 = 5%
4) Medical Expenses Rise, % out of pocket 70 year old pays: Today = 8%, 20 years from now = 15%
5) Wages aren't closing the gap in 2011 dollars: 1973 = about $15/hour, 2010 = about $16/hour
How to Prepare:
1) Work Longer and delay when you collect Social Security benefits
2) Pool resources - live together with family or friends
3) Auto-deduct retirement savings from your salary
4) Use lower cost mutual funds
5) Tap into the equity of your home by either downsizing or a reverse mortgage
College World Series - Wikipedia
Since 1950, the College World Series (CWS) has been held in Omaha, Nebraska. It was held at Rosenblatt Stadium from 1950 through 2010; starting in 2011, it has been held at TD Ameritrade Park Omaha. Earlier tournaments were held at Hyames Field in Kalamazoo, Michigan (1947–48) and Wichita, Kansas (1949). The name "College World Series" (CWS) is derived from that of the Major League Baseball World Series championship; it is currently an MLB trademark licensed to the NCAA.
On June 10, 2009, the NCAA and College World Series of Omaha, Inc., which is the non-profit group that organizes the event, announced a new 25-year contract extension, keeping the CWS in Omaha through 2035. A memorandum of understanding had been reached by all parties on April 30.
The new contract began in 2011, the same year the tournament moved from Johnny Rosenblatt Stadium to TD Ameritrade Park Omaha, a new ballpark across from CenturyLink Center Omaha.
1947 – Eight teams were divided into two, four-team, single-elimination playoffs. The two winners then met in a best-of-three final in Kalamazoo, Michigan.
1948 – Similar to 1947, but the two, four-team playoffs were changed to double-elimination tournaments. Again in the finals, the two winners met in a best-of-three format in Kalamazoo.
1949 – The final was expanded to a four-team, double-elimination format and the site changed to Wichita, Kansas. Eight teams began the playoffs with the four finalists decided by a best-of-three district format.
1950–1987 – An eight-team, double-elimination format for the College World Series coincided with the move to Omaha in 1950. 1950–1953, a baseball committee chose one team from each of the eight NCAA districts to compete at the CWS. Through 1987 the College World Series was a pure double-elimination event. That ended with the 1987 College World Series.
1988–1998 – The format was changed beginning with the 1988 College World Series, when the tournament was divided into two four-team double-elimination brackets, with the survivors of each bracket playing in a single championship game. The single-game championship was designed for network television, with the final game on CBS on a Saturday afternoon.
Before expanding to 64 teams in 1999, the Division I tournament began with 48 teams, split into 8 six-team regionals. The winner of each regional advanced to the College World Series. The regionals were a test of endurance, as teams had to win at least four games over four days, sometimes five if a team dropped into the loser's bracket, placing a premium on pitching. In the last two years of the six-team regional format, the eventual CWS champion – (LSU in 1997 and Southern California in 1998) – had to battle back from the loser's bracket in the regional to advance to Omaha.
1999-2002 – With some 293 Division I teams playing, the NCAA switched to a 64-team, Regional field in 1999, with 8 National (super) Seed teams, divided into 16 four-team regionals (each team seeded 1 to 4), with the winners of each of the 16 "Regionals" advancing to eight two-team, best-of-three-format "Super Regionals". The eight Super Regional winners advanced to the CWS in Omaha, NE. In 2008, a number-4-seeded Regional team, the lowest seeding possible (akin to a #13-16 seed in college basketball's March Madness) – the Fresno State Bulldogs – won the CWS championship, against the Bulldogs of the University of Georgia, winning two of three in the championship series. While the CWS format remained the same, the expanded field meant that eight super regional champions would advance. The 64-team bracket is set at the beginning of the championship and teams are not reseeded for the CWS. Since the 1999 College World Series, the four-team brackets in the CWS have been determined by the results of regional and super-regional play, much like the NCAA basketball tournament. Prior to 1999, the pairings for the CWS were not determined until after the completion of the regional tournaments.
2003–Present – The eight super regional champions advance into two, four-team brackets. The eight super regional winners are not reseeded for the CWS. Those two brackets play double-elimination with the bracket winners then meeting in a best-of-three championship series. Also, in 2003, the tournament returned entirely to cable television on ESPN, which had been covering all of the other games of the CWS since 1982 (and a partial schedule since 1980).[4] The championship final became a best-of-three series between the two bracket winners, with games scheduled for Saturday, Sunday, and Monday evenings. In the results shown here, Score indicates the score of the championship game(s) only. In 2008, the start of the CWS was moved back one day, and an extra day of rest was added in between bracket play and the championship series.
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