Jump to content

Recommended Posts

What a quarter, and the stock and bond market is the least of it. May 25th will go down as "a date which will live in infamy, " quoting FDR speech about December 7th, 1941 the surprise attack on Pearl Harbor by the Japanese. Not only that but COVID is going to be with us until the 100 companies who are working on a vaccine develop one. 

The virus came home to roost when a friend who lives in Los Angeles got it. The only symptoms were no smell or taste--no fever, no sore throat, no aches or pains. This disease is not going away as expected during warmer months. I am not going to get into politics. Suffice to say that Georgiana, my wife, and I wear a mask 100% of the time when we are out of the house and out of our car. 

For comparison between the Q1 and Q2 will show how my portfolio recovered to have a Y.T.D. return of +.5% or half a percent. 

Q1 returns 

Q1_2020_Returns.JPG

 

Q1 and Q2 Returns 

Q2 2020 Returns.png

 

Asset Allocation has not changed for over five years except this year, I sold my Total Bond Market Index IRA and invested in California Munis strictly for income tax advantages NOT BECAUSE OF ANYTHING ELSE. This move is within my stock/bond split plan. 

Q2 2020 Allocation .png

 

 

No cost adjustments for my Vanguard and TIAA portfolio. 

Q2 2020 ER.png

Share this post


Link to post
Share on other sites

YTD, I'm down 1.4%  . Pretty much how I started the year. I'm grateful and satisfied considering the  multiple Traumas we are currently going through. I've been considering lately leaving the country and living in Italy. I have to convince my wife though and currently I'm not getting anywhere so I doubt it will happen. The last few months has been very disturbing to me . Maybe i just need to turn off the news.

Share this post


Link to post
Share on other sites

In case anybody is interested.

I wrote a blog piece about the past three months, some historical perspective of horrific events during my lifetime. We are going to get through this!  And additional sharing of my thoughts on my portfolio and why it is performing as designed. 

Enjoy!

https://latebloomerwealth.com/commingling-of-life-money-y-t-d-report-2020/

Share this post


Link to post
Share on other sites

Steve, you are a  true renaissance man!  Enjoyed reading through your blog.  The bobcat pic was cool. The wasps not so much.I too love salads and grow a garden every year. We feel very confined at the moment but we are following all CDC protocols and wearing masks but unfortunately even  mask wearing too has fallen into  the realm of politics .  Hard to find yeast in our stores lately so no bread baking here although my parents baked all their own bread (no bread machine)so your blog brought back memories. The statue destruction and other violent acts I'm seeing i can't condone and it's deeply depressing . I think some need a better  thought out historical perspective.   It's shameful to destroy and remove art in the manner that is occurring in my opinion.  Better to lobby locally, peacefully for changes. I too remember the 60's so you  mentioning it helped me feel more optimistic about the future. Maybe something good will come out of all this. I just hope we are prepared for the next pandemic. There didn't seem to be any plan in place and we had been warned something like this this could happen years ago.

Tony

Share this post


Link to post
Share on other sites
2 hours ago, tony said:

The statue destruction and other violent acts I'm seeing i can't condone and it's deeply depressing . I think some need a better  thought out historical perspective.   It's shameful to destroy and remove art in the manner that is occurring in my opinion.  Better to lobby locally, peacefully for changes.

Inclusive public spaces are important. Monuments which honor former slave owners and murderers of Native Americans aren't something I enjoy seeing, so I'm fine if they are taken down by any means necessary. Those represented are still in the history books, but they don't need to be a part of the national decor. There's far better art that could be put up in the now empty spaces which wouldn't stir up reminders and feelings of the oppression of their ancestors.

Share this post


Link to post
Share on other sites

Arguing for monuments to traitorous white supremacists because it is art 🙄.

They invaded a foreign land, exterminated the “savage” natives, and enslaved and brutalized an entire race of people in order to line their pockets and prop up their false sense of superiority. As if that weren’t enough, they were so committed to the expansion (not just maintaining the status quo, expanding on it) of this barbaric way of life that they were willing to start a bloody civil war over it.

I only wish the “violence” in which these monuments are being destroyed could mirror the violence the monuments celebrate.

Give the autobiography from Frederick Douglass a read, seriously. Absolutely disgusting. 

Share this post


Link to post
Share on other sites
7 hours ago, ScottO said:

Inclusive public spaces are important

Absolutely.

Let me turn this on it’s head a little bit. I’m a white guy, but more than that I believe passionately in fairness and morality. There isn’t a monument you could construct that would make me feel more excluded and alienated in a public space than a monument to a confederate.

Share this post


Link to post
Share on other sites

Germany is a perfect example of what this country should and I think will now follow. The Germans are saying to the world that we are not nazis! There are no monuments anywhere reflecting that terrible, horrific era between 1933-1945. Here we have hundreds of monuments celebrating this terrible U.S. history, and some people are proud of that time??!!

I was so proud to attend our local rally and see all of these young people confront our race relations head-on in which my generation failed to finish the job. 

Many of my generation read "Black Like Me". As a 17 year old, caucasian from Wis. I could not believe what I read, and a half-century later I still cannot believe we are still going through this. 

Share this post


Link to post
Share on other sites
1 hour ago, sschullo said:

my generation failed to finish the job

If you're talking about the progress from the 60s, we can't diminish that progress, but you're absolutely right.

Our school system likes to teach us that Dr. King fought for and won the battle against racism so we can just wash our hands of that. They don't teach us that desegregating buses was only the tiniest step in King's vision and was part of a long history of white folks doing the bare minimum, but never putting their money where their mouths are. His philosophy clearly stated that bigotry, economic inequality, and militarism are the three interlocking evils that must be dismantled.

In the last year of King's life he gave a speech entitled America's Chief Moral Dilemma, which everybody should read in its entirety, but here is a great excerpt:

Quote

And because we are moving into this new phase, some people feel that the civil rights movement is dead. The new phase is a struggle for genuine equality. It is not merely a struggle for decency now, it is not merely a struggle to get rid of the brutality of a Bull Connor and a Jim Clark. It is now a struggle for genuine equality on all levels, and this will be a much more difficult struggle. You see, the gains in the first period, or the first era of struggle, were obtained from the power structure at bargain rates; it didn’t cost the nation anything to integrate lunch counters. It didn’t cost the nation anything to integrate els and motels. It didn’t cost the nation a penny to guarantee the right to vote. Now we are in a period where it will cost the nation billions of dollars to get rid of poverty, to get rid of slums, to make quality integrated education a reality. This is where we are now. Now we’re going to lose some friends in this period. The allies who were with us in Selma will not all stay with us during this period. We’ve got to understand what is happening. Now they often call this the white backlash … It’s just a new name for an old phenomenon. The fact is that there has never been any single, solid, determined commitment on the part of the vast majority of white Americans to genuine equality for Negroes. There has always been ambivalence … In 1863 the Negro was granted freedom from physical slavery through the Emancipation Proclamation. But he was not given land to make that freedom meaningful. At the same time, our government was giving away millions of acres of land in the Midwest and the West, which meant that the nation was willing to undergird its white peasants from Europe with an economic floor, while refusing to do it for its black peasants from Africa who were held in slavery two hundred and forty four years. And this is why Frederick Douglass would say that emancipation for the Negro was freedom to hunger, freedom to the winds and rains of heaven, freedom without roofs to cover their heads. It was freedom without bread to eat, without land to cultivate. It was freedom and famine at the same time. And it is a miracle that the Negro has survived.

With respect to the job not being done, I'd also recommend these two clips that came toward the end of his life as well:

 

 

Share this post


Link to post
Share on other sites
On 7/7/2020 at 7:40 AM, EdLaFave said:

If you're talking about the progress from the 60s, we can't diminish that progress, but you're absolutely right.

Our school system likes to teach us that Dr. King fought for and won the battle against racism so we can just wash our hands of that. They don't teach us that desegregating buses was only the tiniest step in King's vision and was part of a long history of white folks doing the bare minimum, but never putting their money where their mouths are. His philosophy clearly stated that bigotry, economic inequality, and militarism are the three interlocking evils that must be dismantled.

In the last year of King's life he gave a speech entitled America's Chief Moral Dilemma, which everybody should read in its entirety, but here is a great excerpt:

With respect to the job not being done, I'd also recommend these two clips that came toward the end of his life as well:

 

 

Great clips for a very smart man.

In all fairness to my generation, in the 60s people forget how devastating the JFK assassination was. Kennedy was an enormously popular president! And would have been reelected in 1964 easily. Johnson did everything right but NOT Vietnam!!!!!!!!!! Nobody knows what Kennedy would have done about Vietnam. It would be all speculation to guess. 

Five years later, (1968) while I was in the Oakland Naval hospital glad to get out of the horrific mess called Vietnam, MLK was also assassinated, and then 2 months later, Robert Kennedy!!!!!!!!! 

Yes, events are terrible today, but 1968 was a terrible year with rioting all over the country and Chicago's democratic convention was a war zone. 

While the country was badly wounded by all of these horrific events, the country did survive. But one of the prices is our continued terrible race relations and income inequality. The middle class is disappearing. And no political party is addressing that core issue! 

Share this post


Link to post
Share on other sites
4 minutes ago, sschullo said:

Johnson did everything right but NOT Vietnam!!!!!!!!!!

Ooof, isn't that the truth. I'd argue his accomplishments are greater than any president in modern/post-world war history, but I don't know how to reconcile that with Vietnam. It's maddening.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

×
×
  • Create New...