Entries by DougD

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The Death of the Financial Advisor

About one-third of my readers are professional financial advisors who earn their crust of bread telling clients how to invest their retirement assets for a fixed fee. They used to earn a share of the brokerage fees they generated. After stock commissions went to near zero, they started charging a flat 1.25% a year on

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Why Globalization Works

I am writing this to you from the Amtrak California Zephyr. Having got my Pfizer Covid-19 shots, it is now finally safe to ride public transport. I am riding the rails in a first class sleeping compartment from Oakland, CA to Truckee, CA to reposition a car from my Lake Tahoe lakefront estate now that

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Testimonial

I watched John Thomas for a year before jumping in, and I should have done it earlier when he phenomenally traded that awful year, 2011, that whipsawed so many investors including myself. He again outperformed the market in 2012, 2013, 2014, 2015 and so far he has shown amazing skill once more in navigating treacherous

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European Style Homeland Security

I have just seen the movie “Dunkirk” for the second time, a film that is close to me because I knew several of the participants. A boat that made the crossing memorialized with a bronze plaque moored in the canal in front of my West London mansion for several years. I also recall a lunch

Remembering 9/11

With the 20th anniversary of 9/11 just passed, I want to forward the message circulating among past-and-present Morgan Stanley staffers, myself included: As a firm headquartered in New York City, this is always a sobering time for us. For us, we remember those who died and the heroism of many that saved thousands of lives.

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Report from the Frozen Wastelands of the West

I am writing this from a High Sierra peak at 12,000 feet in the dead of winter. It is 15 degrees and the wind is gusting to 70 miles an hour, turning my backpack into a sail and practically blowing me off the mountain. Over the side, the next stop is 1,000 feet below. I

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