Links for January 2025

 Links:

Some billionaires contribute something more tangible than law, financial engineering, or lines of code: https://www.youtube.com/watch?v=lBKfWcPT-Ug

"Tax shelters are to democracy what pollution is to the environment. When companies spew toxic wastes in the the air and water, they are saving money by not running cleaner operations and by making everyone else bear that cost through acid rain, fouled water and diseases like cancer. When they use tax dodges like the rigged Shell stock trades, they are saving money by not paying the price of maintaining the civilization that has made their success possible."
- David Cay Johnston, Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich—and Cheat Everybody Else (2003), p. 227

I've been reading this book, and while it's not an easy or exciting book, the author does a great job detailing exactly how the very wealthiest Americans use tax loopholes and strategies of dubious ethical and legal standing to escape paying taxes.

Which, naturally, means that you and I end up paying more.

Infuriating...and a worthwhile read! Though the book is over 20 years old at this point and I'm sure a lot of strategies have changed, regulatory capture definitely has not.

"If I told you 5 years ago that there would be a global pandemic and Pfizer would be the leading manufacturer of a vaccine to combat the virus with sales of over $70 billion in 2021-22, you would probably have dumped your S&P 500 Index fund and put all your money into Pfizer (PFE). But for the five years ending Sept. 18th [2023], PFE is essentially flat while the S&P 500 ETF (SPY) has gained 67%. The lesson for investors - s[t]ock picking would not be any easier, even if we knew the future.

This is why the word surprise is in the dictionary and just another example of why you should ignore all 'Stocks to Buy Now' articles."
-George Sisti, Vectors Oct. 2023 newsletter for On Course Financial Planning

I enjoy reading these 'Vectors' newsletters for their long-term-focused perspective - and the snark.

Interesting perspective to consider: https://www.msn.com/en-us/money/retirement/my-dad-sacrificed-everything-to-retire-early-only-to-die-before-he-could-enjoy-it-i-ll-never-recommend-early-retirement-to-anyone/ar-AA1qBK2E?ocid=entnewsntp&pc=U531&cvid=315decfb2ba34e63a994b34d811df50e&ei=55

Can confirm that the housing market right now is, in fact, a slap in the face: https://www.msn.com/en-us/money/realestate/28-year-old-made-15-offers-went-65-000-over-asking-price-and-still-got-rejected-the-housing-market-is-a-slap-in-the-face/ar-AA1qJkWi?ocid=entnewsntp&pc=U531&cvid=8c2e0fcf57474e72aeb5b41c2547bfc4&ei=26