Your personal financial security may not be as strong as it should be. You may be more vulnerable than you think. I called a client yesterday to review his portfolio and his wife quickly said he’d have to call me back because the police were at the house. He was filing a report because his debit card had been compromised. It turns out that over the weekend a waiter had held the card longer than normal (obvious after the fact) and had used the card numbers to make purchases online. Thankfully their bank was able to notify them and quickly canceled the card. I’m sure many of you have been in a similar situation. Recently, Becky and I signed up for LifeLock. And I’m not getting paid to say this, but I suggest you do the same. Because it’s comforting knowing there’s another set of eyes watching your back. And there are only a few investments out there today with very little downside.

The post Your Personal Financial Security Part I appeared first on RichardCYoung.com.

Another example of investors heading for the exits at precisely the wrong time. This time it’s the largest bond fund PIMCO Total Return run by Bill Gross. The WSJ points out here.

According to people familiar with the fund, its investors incurred an average loss of 1.4% over this period, nearly double the loss of the fund itself. That is because investors bought high and sold low, locking in the fund’s interim losses and missing its later gains. For the many people who believed they knew just when to buy and sell, that $11 billion is the collective toll of their imperfect self-knowledge

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Arc de Triomphe – Paris

Debbie and I are increasingly building a base in Paris as our preferred outpost for international intelligence and investing. We see a new conservative bent in Paris. The French know they have drawn the short straw with Socialist Hollande. And when I write conservative, I’m not even thinking the Front National, which is a far right party now controlling about a quarter of the voter base.

When thinking France, my advice is to plan to stay longer than you had originally considered. If you are new to Paris, it will take an extended period to get your feet on the ground. Paris is a good deal larger than, by example, Boston. Think multiple Bostons, and you’ll be on track. Paris has the highest density of any city in Europe (over 2.1 million residents in 40 square miles). Between the left and right banks are 20 arrondissements, each uniquely different from the other. The number of each arrondissement is easily identified by the last two digits of Parisian zip codes. The right bank (Rive Droite) is one thing and the left bank (Rive Gauche) a whole different matter.

The right bank includes most of the dozens of Paris five star hotels, including, of course, the luxurious palace hotels. Here I am thinking Hotel George V Paris, Hotel Le Bristol (our favorite in the 8^th), and the Meurice. The Paris Ritz, Crillon and Plaza Athenee are all closed for massive renovations. Most of the big name Paris historical attractions are on the right bank, as is the shopping horrorthon of the Champs Elysees. From about the 1920s until the 1960s, the Champs Elysees (shahnz ay-lee-zay) was one of the world’s most renowned and glamorous boulevards, full of prestigious businesses, cafes and nightclubs, and the height of haute couture shopping. Today, you can still look east from the top of the Arc de Triomphe (284 steps) to the Tuileries Garden and the Louvre, but there’s a lot of iffy stuff sandwiched in between. We found ourselves on the Champs one Sunday afternoon and could not get off fast enough. The whole tacky scene had the feel of an egregiously expensive international prison break. In my next post, I will explain how to get all the flavor of the 8^th without staying on the right bank. If you must stay in the 8^th, my strong advice is that you book at the Hotel Bristol.

Our best Paris research tool is the Paris Red Maps What a great reference tool. Start by ordering a copy as well as a copy of The Little Black Book of Paris (Peter Pauper Press Inc.). Hotels are listed for the left and right banks. Most of what you will need will be found on these lists.  And a great app for navigating through Paris is TimeOut Paris. If you want to go first class, you have limited hotel options on the left bank. We’ve often stayed at the historic Hotel Lutetia, but it is slated for badly needed renovations this spring. I will give you our updated view on this left bank group in my next post.

The post What I learned in Paris Fall 2013: Part I appeared first on RichardCYoung.com.

America has seen 55,000 factories close and lost 6 million manufacturing jobs. Few Americans I talk to seem to have any concept of the trouble we are in. There is a way out for America. We need to immediately move away from the big government, interventionist policies of the Democrat and Republican parties and transition to a small central government, non-aligned Federal Republic form of government proposed by our Founders. The various Tea Party groups are on the right track, but will require support from a broad base of Americans who are willing to strike out beyond the self-interest-oriented Democrat and Republican leadership. Pat Buchanan has the whole story here.

The post The Decline of the Greatest Republic in History appeared first on RichardCYoung.com.

We all heard Congressman Wilson live. Now Investors.com details the gravity of the president’s lying. The question, is what are Americans prepared to do about it?

Let’s clear up some foggy prevarications polluting President Obama’s ongoing snow job for ObamaCare:

If you tell a spouse you’re going to Sam’s Club when you really mean Costco, that’s no big deal. Those membership stores are the same, except one peddles better hot dogs. That’s called misspeaking.

However, if you’re president of the United States peddling a legislative tumor like ObamaCare, one that you know will drastically change almost one-fifth of the nation’s economy, one that openly claims to help a few million uninsured Americans while secretly disrupting the lives, families, finances and medical care of more than 100 million Americans, and you say things like this:

“No matter how we reform health care, we will keep this promise to the American people: If you like your doctor, you will be able to keep your doctor. Period. If you like your health care plan, you’ll be able to keep your health care plan. Period. No one will take it away, no matter what.” – Pres. Barack Obama to the American Medical Assn., June 15, 2009.

…

And then he rewrites rhetorical history with something like this:

“What we said was, you could keep (your policy) — if it hasn’t changed since the law passed.” – Pres. Obama, Nov. 4, 2013.

The post The Lying King appeared first on RichardCYoung.com.

Almost 20 years ago I interviewed Charlie as part of a three-piece chef series I conducted featuring Charlie, Emeril Lagasse, and Norman Van Aken. While visiting our daughter in Chicago years later, Becky, Debbie and I got a first hand tour of the restaurant kitchen from Charlie’s lovely mother. Debbie and I are much saddened by the passing of one of the true greats on the American culinary scene. Not surprising, at the extraordinary Inn at Little Washington there is a room named after the iconic Charlie Trotter. I hope you will enjoy this outstanding video on the memorable Charlie Trotter. Our restaurant tab at Mr. Trotter’s all these years later was certainly memorable!

The Orlando Sentinel reports both van Aken’s and Lagasse’s comments on Charlie’s passing:

“He was our friend. He was our chosen brother. He always will be,” said Van Aken. “I wanted to grow older with him in this life. Another lesson to hold each other tight.

Lagasse echoed the sentiment: “My brother, Charlie and I go way back. Charlie, myself and Norman [Van Aken] had a triangle. We traveled the world together, raised our families together. Charlie was a visionary, an unbelievable chef who brought American cuisine to new heights. We have lost a tremendous human being and an incredible chef and restaurateur. It’s a very sad day and my heart goes out to Charlie’s family.”

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