In 1973 George Steinbrenner paid $8.7 million for the New York Yankee’s a team that’s currently worth over $4 billion and in second place.
Usually, when sports teams trade they are often for eye-popping prices which seem hard to justify at the time, yet years later the purchasers always seem to be vindicated.
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“In every battle there comes a time when both sides consider themselves beaten, then he who continues the attack wins.”
-Ulysses S. Grant
“When things get really bad, just raise your glass and stamp your feet and do a little jig.
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Gary Carmell
Posted in Economy, Interest Rates, Investing, News, Trends, Uncategorized, Wealth
2 Comments ↓
Under most economic environments longer-term debt instruments yield more than shorter ones. This is the case in order to compensate investors for risks related to purchasing power eroding and more uncertainty and volatility that can increase the probability of default (outside Treasuries). In addition, our banking system is based on banks accessing short-term deposits and being able to make longer-term loans and investments which necessitates longer rates being higher than shorter ones so banks can be profitable.
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Shortly after publishing my book I was in New York City and did a brief interview with Gregg Greenberg from TheStreet.com which was quite fun and then I had a meeting with investment legend Howard Marks which was such a treat. He was kind enough to write a testimonial for the book and made the time to let me thank him personally.
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Human beings are reaction machines versus reflective and responsive individuals. We are our own worst investing enemies when it comes to investing successfully. Most people are easily susceptible to bouts of fear and greed when it comes to investing. Unfortunately, these emotional highs and lows are often when the masses are reacting in a similar manner.
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The last few weeks have been a good representation as to why I have an aversion to fixed-rate loans when doing a refinance or an acquisition. Assuming fixed rate loans from sellers when acquiring properties, however, is a different story and worthy of its own write up so I won’t address the distinctions here.
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The future is clearly unknowable other than the certainty of our demise. All we can do is to utilize our knowledge and experience to assess when we think the odds are in our favor or against us and take action accordingly. Everything comes down to risk and reward,
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Like most people, especially investors, I’ve been wondering about whether there is a philosophical prism through which Donald Trump sees the world other than through deals and negotiations. In business, especially in real estate, there are often objective outcomes to shoot for to know if you are winning,
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On my recent trip, I visited 10 countries in Africa and Asia. My last destination was Singapore. I had been there in 1999 and remember how impressed I was with the city-state then and departed this time even more so. Singapore became an independent state after being kicked out of the Malaysian Federation in 1965.
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One of the premises of my book is that wealth goes far beyond the financial realm. A future blog post will discuss this in more detail. With the new year approaching this, is the time of year when many people make resolutions for the year ahead. I thought I would illuminate some very interesting research about money and happiness that may help influence readers in terms of what to focus on when it comes to their resolutions.
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