This past Tuesday marked the 43rd anniversary of the death of Yankees catcher Thurman Munson. I still remember the day clearly. I was throwing a baseball with a good friend when a radio broadcaster announced it Munson had been killed in a plane crash.
Photo illustration of staff; Dreamstime
For 11-year-old kids who lived, breathed and slept baseball, it was unbelievable. After all, the 32-year-old team captain and seven-time All-Star was in the prime of his career and had just played against the Chicago White Sox a day earlier.
Today, his death resonates more as tragedy and something surreal than something incredible. Adulthood teaches us that nothing in life is guaranteed. And yet many, including those much older than 32, doggedly avoid the subject of their own mortality.
As such, advisors should consider reading this cautionary tale about a brilliant trusts and estates scholar who died without a valid will. It underlines the importance of ensuring that customers’ plans are in order well in advance of their implementation. Although it can be uncomfortable to remind clients of their mortality, doing so in the service of creating a good estate plan is a key way to demonstrate value.
This topic struck a deep chord with readers.
David Johnson: “My financial advisor at Schwab always mentions this to me. On the first of June 2022 I went in for a ‘simple’ biopsy and ended up with sepsis. Seven days in the ICU and a doctor who told me every day that if I hadn’t recovered to the hospital then, I only had 12 to 24 hours left. From completely healthy (almost) to almost dead in 24 hours! My family almost learned this lesson the hard way.”
Carl book: “I think I must have a will.”
David McCormick: “Makes me feel guilty for reading these wise words.🙂”
__________
These companies can help solve the global food crisis. This perfect storm is partly due to a lack of storms. Scorching heat and drought cripple crops in the Midwest and East Africa. Coupled with the impact of the pandemic and the war in Ukraine, nations are struggling to feed the hungry. But innovative companies such as
Deere
(ticker: DE) and
Corteva
(CTVA) can make a difference, according to Barron’s cover story. Among the dozens of comments from readers here, a few stand out.
Chris Bentsen: ”
Deere
is a world leader in agricultural equipment. With exemplary management committed to R&D plus returning large amounts of cash back to shareholders through dividends and buybacks, this is a name to own for the long term.”
Hugh Wilbanks: “The
VanEck Agribusiness ETF
(MOO) is invested in almost all the companies mentioned in the article plus many others on a truly global scale with 54% US companies. It also has a Morningstar four-star rating. Don’t know why it wasn’t mentioned in the article.”
Mickey Cash: “In the long term, the only way to sustain growth in food production is to improve irrigation efficiency. Irrigation is responsible for 75% of all freshwater use, and 50% of that evaporates before it helps the plants. In addition, with freshwater sources drying up everywhere , it is clear that cheap methods of desalinating seawater will be necessary.”
__________
SEC Charges 11 in Alleged $300 Million Crypto Fraud. Regulators allege that the creators of Forsage fraudulently raised money from millions of retail investors around the world. Two readers, including a self-described investment advisor, found little common ground. Below are excerpts from each of their posts.
Chuck Degall: “Just sickening. People who buy crypto will lose everything. They have been warned enough, since crypto doesn’t even exist. It’s all a Ponzi scheme. It is worthless. Do you want to own something amazing? Purchase
Johnson & Johnson
(JNJ),
CVS health
(CVS),
Google
(GOOGL),
Amazon
(AMZN).”
John Eidmann: “Crypto is NOT worthless. Blockchain is a secure technology of the future – transactions without the middleman (banks) killing you with fees…If you want to invest in the future of blockchain technologies, stick with the best, just like you would with stocks, otherwise it’s just like invest in high-risk pink sheets.”
Chuck: “Banks charge no fees when you send someone a check or transfer money via ACH. Every crypto exchange I know of charges fees for such basics. Your main argument doesn’t hold up well. What’s more, my money is safe in banks and with large brokerage companies.”
John: “In 2008, the entire global financial system almost melted down like Three Mile Island. What saved it? The printing of trillions and trillions of FIAT dollars, further devaluing it. How many fiat currencies have survived throughout history? No. Our monetary system is a house of cards.”
Chuck: “I’m an investment advisor and I try to help people like you keep a more open mind about what has always worked over time. These fads like bitcoin come and go and people get wiped out. I think eventually it will come to zero.”
What do you think? Comment below. And check out past Community Conversations.
Write to Greg Bartalos at [email protected]
