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On the Horizon

Thoughts, musings, and a little bit of entertainment from the world of personal finance.

Zombie Apocalypse

9/10/2020

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Does Halloween lose a bit of magic because people have been wearing masks for 6 months already?  Resoundingly, no.  Sure, it may be more trick than treat this year, but Halloween itself is about the atmosphere - shorter days, cooler evenings, foggy mornings, zombies...yes, the zombies.  We are in the middle of a zombie apocalypse - you see them every day and probably have no idea until they collapse and die right in front of you.  One of the more recent ones to be decapitated and burned (take your pick of favored zombie disposal methods) is...Hertz.

That’s right, we’re talking about zombie companies!  Zombie companies are those that should have gone out of business a long time ago, but have been reanimated through the Fed’s zero interest rate policies.  Without going on another rant about how the Fed has destroyed the notion of productive capital allocation, here’s how zombie companies form:

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Things That Go Bump In the (Over)Night

10/30/2019

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It’s the most wonderful time of the year.  To only slightly paraphrase Andy Williams:

There’ll be parties for hosting
Marshmallows for toasting
And frightening kids don’t you know

There’ll be scary ghost stories
And tales of the gories of
Halloweens long, long ago

It’s the most wonderful time
Yes the most wonderful time
Oh the most wonderful time

Of the year


There’s nothing quite like the combination of that crisp chill of fall in the air, the sight of millions of leaves dying a fiery death (because of the colors, not because they’re in California), and the earthy scent as they start to decay and crunch underfoot for raising the spirits.  Figuratively. But also perhaps literally.

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Back to School?

8/10/2019

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Happy Labor Day!  Our summer school valuation series has wrapped up, just in time for the kids to go back to actual school.  So let’s talk for a second about actual school. Specifically, college...or not.

College costs have gone up by about 2.5-3% a year for the last couple decades.  That’s not bad in and of itself, but that is still about 8 times more than wages have gone up in the same time period, which leads to a problem with affordability.



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March

2/10/2019

 
Maaaaaarghch.  We got nothin’.  Monosyllabic. Not punny.  The only thing mildly related is “March of Dimes”, and that has been well taken already.  So without further ado, let’s continue our 2019 series in content, if not title.

  1. You’re paying yourself first
  2. Your emergency fund has three months’ expenses in it
  3. You are now here.

“Here” looks like different things to different people.  For some people, “here” might be increasing that emergency fund to 6 or even 12 months’ expenses.  Nothing wrong with that, but you know what you’re doing now, so keep at it and revisit this article when you’re happy with your emergency fund.

For others, “here” is about making your money work for you, which usually boils down to a question of which takes priority: saving/investing or paying down debt?  The answer is, like so many other things, it depends on your personal predilections.

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Your Own Personal Balance Sheet

11/28/2017

 
Happy Thanksgiving everybody!  We hope your holiday was as filled with good food, family, friends, and involuntary naps (aka food comas) as our was.  We learned two things anecdotally this holiday season:
  1. Gone are the days when being at your grandmother’s house in the middle of rural Maryland means you’re disconnected from everything; it does, however, mean that your cell data lasts approximately a day and a half.
  2. The eye test at Best Buy on Black Friday indicated that people apparently have money to spend.  
They don’t necessarily know what they’re buying (yours truly having had to try and explain the difference between “Roku TV” and “Smart TV” to confused shoppers - apparently blue plaid flannel is close enough to the Best Buy employee uniform?), but they’re buying.  And the preliminary numbers back this up: apparently, American consumers spent over $6B on Thanksgiving/Black Friday, up 15% from last year.

That must be a good thing, right?  Yeah!  It is.  Probably.  Increased sales mean increased revenues for companies, which can be translated into higher (or at least supported) stock prices, even as profit margins have been falling over the last couple years.

More importantly to us, however, increased sales *should* indicate something about people having more disposable income, which is categorically a good thing.  We say *should* with little asterisk offsets because in this day and age one doesn’t have to have current disposable income to purchase something.  They could purchase it with debt (credit cards), and essentially borrow from future disposable income.

And, in point of fact, that is exactly what has been going on for the past several years.  Enjoy these charts  from the NY Federal Reserve (interactive up-to-date data available here, for anyone interested):

The general trend has continued through this year - total household debt is at all time highs now, and the main drivers of this are student loan debt (up 100% since 2009) and auto loan debt (up almost 60% since 2009).  This is not necessarily an issue in and of itself, given that the charts are in absolute dollars and not percentages.  However, real wage growth has been mostly nonexistent for most of the population, 
causing us to cast a moderate amount of side eye on that Black Friday shopping.

So.  What does your balance sheet look like?


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US News: Still Have  Your College Bank Account? How to Save and Spend Like an Adult

8/2/2016

 

Six tips for handling your finances like a pro after college.
By Geoff Williams


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