Many investors feel the need to perform due diligence when hiring an advisor. However, few actually go beyond a quick “google search” or asking for feedback among friends. Completing a check on your advisor is especially important in the wake of massive ponzi schemes like Bernie Madoff. Even institutional investors, such as the board of trustees of a pension fund, should regularly review the professional backgrounds of the brokerage firm and individuals which serve as its financial advisors.
5 simple steps to protect yourself from the Target data breach
This past month has been an unwelcome reminder that identity theft is on the rise. Target and Neiman Marcus are the two high profile retailers whose networks were breached over the holiday season; however at least three other well-known smaller US retailers were breached. Target has already reported that 70 million to 110 million of its customers had their information stolen including credit card numbers, names, addresses, phone numbers and PIN numbers. That is a staggering figure as that represents a third of all American adults on the low end, and is nearly three times as great as the company's original estimate at the high end. Fraud experts said that information stolen from Target's systems quickly flooded the black market.
According to Javelin Strategy, 1 in 4 data breach notification recipients became a victim of identity fraud in 2012. This isn't good news for those affected by the holiday data breaches. Therefore, it is imperative to be proactive to protect yourself. You don't want to spend hours, weeks or even months trying to resolve problems.
Wall Street strategists predict weak bull market
It is the first Monday of the New Year and we have already reviewed 2013's winners and losers. Now it is time to look forward. What do the experts think will happen in 2014 and should we even care.
Perhaps you are familiar with Philip Telock's landmark UC Berkeley study that looked at 82,000 predictions over 25 years by 300 leading economists. It turned out that their so called expert views were no better than random guesses, and worse, the more famous, the less accurate the prediction.
2013 in review: US Stocks win the race
Equities reign supreme
As we look back on 2013, investors will smile wide at the US stock market indices hitting historic highs. Not only did US markets have an outstanding year but they doubled the return of international indices. The once popular BRIC investing theme actually finished with 3 of the 4 BRIC countries in the red. The countries that went bankrupt in the financial crisis rose from the ashes as Greece, Ireland and Iceland were all up over 29%. Volatility was crushed by the running bulls as the VIX was down over 30%.
A Holiday Story of Hope, Opportunity and Helping Yourself
Here is a diversion from the typical Runnymede blog article. My friend and fellow Chatham High School alumnus, Sean Kelly, brought this story to my attention and it so touched me that I am compelled to share it with you.
The Madoff Effect: Do you trust family businesses?
Ever since Bernie Madoff’s $50 billion ponzi scheme hit the news in 2008, as a family investment firm we inevitably face the question, in no uncertain terms, “How do we know that you aren’t another Madoff?” First of all, I don’t think one bad apple should spoil the bunch. America has been built on the backs of great entrepreneurial families whose businesses are still thriving today. Walmart, Mars, Aflac and Fidelity Investments are family owned shops that have grown into multi-billion dollar corporations. I don’t think anyone questions them just because they are family businesses. But I understand people’s concerns especially when their hard earned savings are on the line.