Growing up in New England, we had several “regional” ice cream shops – many of which have faded into oblivion - unfortunately much like the NY Football Giants 2017 & 2018 seasons! One of our local Connecticut favorites was Carvel’s Soft Serve whose owner Tom Carvel was the company’s iconic TV pitchman urging folks to buy among other treats – a whale shaped ice cream cake for “your Whale of a Dad”!
One of the “go to” Carvel items was the soft served swirl cone dipped in either Red, Brown or Tan “Dips” which hardened to enhance the flavor profile of the product. They are omnipresent now – but in early to mid-1970’s a “dip” was a thing! One of the counter servers had a standard line “Never Skip the Dip!” when coaching up a customer pondering their order. Looking back, I’m not sure how hard the decision was with only Chocolate or Vanilla / with or without a dip into a vat of a "sweet plastic" tasting Chocolate, Strawberry or Butterscotch as the only decisions facing you. (I’ll pause for a second now, so readers can mentally go back to relive their childhood ice cream experiences!)
"Peeling the Onion" on Mutual Funds Capital Gains Tax - Brings Tears to the Eyes!
Wall Street rarely (OK never) sends “a warning memo” in advance of a pending negative market event to investors. Imagine the erosion of portfolio values that would have been avoided in the late 2000’s if they did! However, in the 4th Quarter of every year – mutual fund companies do just that – they post their estimated capital gains distributions for each fund. Furthermore, the companies tell investors well in advance the exact date they will be distributing them.
Good afternoon - Successful inventors have always been the catalysts for tremendously impactful societal and economic changes over history. Thomas Edison is credited with inventing the light bulb, Alexander Graham Bell – the telephone, and Steve Jobs – well seemingly everything else (except the Internet which of course Al Gore created!) Clearly these inventions have an amazingly life changing impact on virtually everyone living in any developed country. An “invention” that is never discussed – but felt by most every investor working with an advisor today - is the “1% of Assets” advisory management fee. The unknown “creator” of this approach has funded an entire industry on the wallets of retail investors.