Music fans of a certain age were saddened to learn of the recent passing of Aretha Franklin, long known as the Queen of Soul. Financial planners of all ages were saddened to learn of yet another person dying without a complete estate plan, including a will. Unfortunately, she’s just the latest in a long line of famous people who should have known better.
All investors recognize the need for information.
According to Wikipedia, today’s title relates to a governmental decision to reduce regulations and taxes in order to attract business to its jurisdiction. Often attributed to Justice Louis Brandeis, the concept has been around since the late 1800’s.
The retail brokerage industry began in New York City in 1792 with the signing of the Buttonwood Agreement. It established the organization now known as the New York Stock Exchange and fixed commissions for customers at one quarter of one percent.
We’re all familiar with today’s title but when I tried to track down its actual roots, I became confused. According to multiple websites, it relates to a farmer in Maine trying to give a traveler directions to town.
Kenny Rogers made Don Schlitz’ song The Gambler famous back in the late 1970’s. If you recall the lyrics, the old gambler tells the young one that you have to know when to hold your cards and also when to fold them.
This morning I’m thinking of the delightful 1998 movie Shakespeare in Love. It involves a poor, unknown playwright named Will who falls in love with the far-out-of reach daughter of a wealthy merchant.
Imagine a brainstorming session in Detroit going something like this:
Cars have gotten so expensive, why don’t we add an alarm to provide increased protection against theft?