This blog was prompted by an article in the SJ Mercury News reporting that Jake Peavy, the San Francisco Giants pitcher, had been defrauded out of more than $15M by Ash Narayan, a financial advisor with RGT Capital Management in Irvine, CA. According to the SEC lawsuit, Narayan had fraudulently shifted $33M from client accounts…
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I recently attended a seminar about public pension reform led by Chuck Reed, formerly mayor of San Jose and currently board member of the Retirement Security Initiative. As you probably recall, Reed led the effort to pass a pension reform measure for San Jose in 2012. Here are some of the implications of the underfunded…
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Today’s unexpected vote by U.K. citizens to exit the European Union (EU) has resulted in stock market turmoil worldwide. Unsurprisingly European stocks have taken a beating. U.K. stocks dropped over 3%, German stocks over 6%, and in France the CAC-40 plunged over 8%. Even the Japanese Nikkei fell over 7%, its worst single-day performance in…
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If you were holding an S&P 500 mutual fund in 2008 that dropped 37%, you’d likely feel that your fund should go down in history as one of the worst ever. But in reality the fund didn’t do anything wrong except to invest in a part of the market that happened to experience a calamitous…
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Genworth, one of the larger long term care insurers, recently released their 2016 cost of healthcare data. It is based on surveys or interviews with over 3800 licensed home healthcare providers, 1400 adult day health facilities, 6200 assisted living facilities, and 3600 nursing homes across the U.S. What’s especially useful is the breakdown of costs…
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It’s well-understood that as we age, we experience a general decline in our physical health. And there is increasing evidence that cognitive decline in old age is also natural and inevitable, and cannot be slowed by education or intelligence, nor by so-called brain exercises such as solving crossword puzzles. Our brain, like the rest of…
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