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Just found this web site and wish I had found it a long time ago. Over a few of decades I’ve wasted many dollars on useless newsletters and advisory services that the reviews here would have helped me avoid. In any case, Retirement Millionaire has been one of the “keepers”. It is not geared to make you big dollars fast.
It is very conservative and over the 8 years I’ve been following the recommendations, it has proved to have solid, long term returns. I’m a former aerospace engineer, “gear head”, believer in hard numbers, and active trader. I’m am online Read more ». Dr Eifrig probably recommends selling puts or put spreads. In option trading, this is has the highest probability of success.(Covered calls are probably the safest) You collect the “premium” up front. If you know a little about options, have a decent trading account and extra money that your broker wants you to have in the event the trades go against you, Barcharts.com actually gives you a listing of these types of trades along with ranked probabilities for success. They do this continuously every day for free.
That is just a start. You can be successful for 10 times Read more ».
I too am a subscriber and find Doc’s advice typically spot-on. If Stansberry’s Top Performance stats are to be believed, Doc is by far the best of the bunch. While I don’t recall the exact figures, Doc’s credited with 130 winning trades in a row and previously he beat the 150 figure. To me, that seems pretty good I’ll add that I’m a biotech and medtech headhunter and have spent pretty much all my days in that world for 25 years so I do tend to follow his life science investments a bit closer than many others. I have learned Read more ». I think Doc is a very interesting character.
I’ve found lots of his health advice to be useful. His financial advice is very conservative and solid, he’s gotten high grades every year from his publisher. When I decided to turn to a newsletter to guide the conservative management of my partner’s money, this was the one I felt filled the bill. @Tyler: Doc does have a current portfolio on the website, plus many other tools and reference materials. He just doesn’t take up space in the newsletter for it, I think the health comments take that space. I enjoy this newsletter from “Doc”. To be honest, the monthly letters do have an investment picked each time and a review of the outstanding picks when appropriate.
This is usually interspersed with other information, like the best things to buy in a given month, health related issues, etc. I was offered to try this with a renewal of my Porter Stansberry Investment Advisory subscription, and I have felt it a good compliment to my conservative approach. The only negative I have for this particular letter is there isn’t a single point to see all open positions, when they were Read more ». WELL I WAS ALMOST SCAMMED TILL I READ ALL YOUR REVIEWS,THANKS,IM GLADE I FOUND THESE AFTER DECIDING TO RESEARCH A BIT.WHAT REALLY GOT ME UNDECIDED IS,LIKE IN A LOT OF OTHER STATEMENTS OF THIS SORT I HAVE READ.THESE PEOPLE ARE MULTI MILLIONAIRES AND IN MY OPINION THEY ALL SAY THEY WANT TO HELP THE AMERICAN PUBLIC,WELL IF THIS GUY AND OTHERS OWN SO MANY MONEY MAKING BUSINESSES AND HAVE SO MUCH MONEY AND ARE REALLY WANTING TO HELP THE AVERAGE CITIZEN AS A RETIREE,LIKE MY SELF,WHICH IM ON DISS.
AND 63 YEARS OLD,WHY IF THEY HAVE SO MUCH Read more ». I just heard a promotional ad via a “link” for his newsletter.
He implies that silver will be HUGE in the years to come. He states that the historical ratio of silver to gold is 15:1.
With gold at $1500oz that suggests silver should vault to $100oz. Any research I’ve done says the historical ratio is 55:1. If you believe in “reversion to the mean” silver should be at. This is another Stansberry product that uses a 25% stop loss to hide losers from their portfolio, so you have to go back and figure out how many times you would have been nailed. On MELA he had a 50% stop loss and it went there like a homing pigeon. I read the letter for fun and the interesting retirement tidbits, and it is cheap (3 stars for value). I have never bought a single one of his stocks, because after doing my due diligence not one made sense.
Now he has started Retirement Trader – good luck with that! I subscribed. Since then, I have looked over the monthly issues. In the April 2010 issue, the advice is given “I recommend you add the UltraShort FTSE/Xinhua China25 Proshares Fund (NYSE: FXP) to your portfolio at less than $8.75.” On 15April2010, ProShares UltraShort FTSE/Xinhua China 25 (FXP) announced a 1-for-5 reverse stock split, so the $8.75 becomes $43.75. Since that recommendation, FXP reached a low of about $25 and now (26Feb2011) has reached about $31.
I guess I’ll cancel my subscription. Wow – this is not at all what I expected when I subscribed.
This letter isn’t really about investing per-se so much as it is about securing “so called” bargains on a variety of things useful or not. Information provided in this letter is generally available on the web without getting a subscription for anything. Eifrig’s seeming continued berating of the medical profession makes me wonder if he doesn’t have some sort of axe to grind. I for one have great respect and admiration for the physicans who have cared for me over the years and I doubt they Read more ». I am an Alliance member and thus receive this newsletter as a part of my membership in that organization.
I must say that of all of the Stansberry publications I receive this is the one that has the least resonance and usability to me. I am an academic physician (just the type our good doctor rails against in all of his ads and come-ons). So you might guess I have a good reason not to give him a good rating. However, m problem with his advice is that is generally not novel, occasionally incorrect and often laced with his own Read more ». This site and Stock Gumshoe publications and authors do not offer individual financial, investment, medical or other advice. Nothing on this site should ever be considered to be personal advice, research or an invitation to buy or sell any securities.
We also make mistakes and bad decisions sometimes, and our reasoning or data should be checked against trusted sources before they inform your investing decisions. Choices regarding how to invest your money or otherwise manage your life or finances are yours, we share only our analysis and opinion and all authors or commenters are individually responsible for the words and opinions they share here. Please read our important disclaimers and policies. Stock Gumshoe is supported by subscribers and by sponsors and advertisers. Stock Gumshoe's employee authors will disclose holdings in any stock covered at time of publication and will not trade in any stocks written about for at least three days after publication. Please see below for complete disclosure, disclaimer and policy information.
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Once in a while I like to pull up the web traffic data for the blog and see which specific search terms are leading people to the site. It turns out that a bunch of you are stumbling onto the blog each month looking for “dividend millionaires”.
Now I confess I don’t know exactly what a dividend millionaire is, although it sounds pretty cool. Anyway searching for that term leads people to; a humble janitor and handy man who built a fortune through long-term investing. Since Ronald’s story seems to be so popular let’s have a look at another one, that of Anne Scheiber. Just as with the cases of Ronald Read, the best aspect of this story is the lack of any visible sign of wealth and success. During the course of her working life as an IRS auditor Anne never made more than $4,000 per year. Despite being a diligent worker she never received a promotion; an injustice that likely resulted from being both a woman and a Jew at a time when workplace discrimination against both would have been rife. When Anne retired she was given a $5,000 lump sum and her annual pension was worth around $3,100. Although she was neither born into great wealth, nor did she generate it during her working life, Anne did possess two very important things.
Firstly, she had an awful lot of time on her side. Despite retiring from the IRS in 1944 at the age of fifty-one Anne would go on to live for another fifty years, passing away at the age of 101 in 1995. The second thing Anne had on her side was an extremely high savings rate. According to Scheiber’s attorney it was as high as 80% of her income. The fact that she never married or had children would have helped enormously in that respect, as would her frugality (which reportedly included wearing the same clothes since the mid-1940s) and a rent stabilized apartment which she rarely left. In the 1930s Anne had been burned by stock brokers, an experience which turned her towards self directed long-term investing in blue chip stocks as well as bonds.
Armed with $5,000 in savings and her $3,100 annual pension Anne started down the road of buy-and-hold investing. Over the following fifty years she would go on to accumulate positions in over one hundred stocks. Her big winners included the likes of Coca-Cola, PepsiCo, Pfizer, Abbott Labs, Colgate-Palmolive and Schering-Plough. By the time of her death in 1995 Anne’s portfolio had grown to a value of around $22 million – equivalent to around $35 million in today’s inflation adjusted terms.
She left the entire fortune to Yeshiva University’s Stern College for Women and the Albert Einstein College of Medicine. Anne Scheiber’s gift would enable new generations of bright young Jewish women to get a head start in life in a way that she never could. So what was the secret to her success? As mentioned the biggest factor at play is almost definitely Anne’s time in the market. The romantic version of the story begins with the $5,000 lump sum received at the start of her retirement, however it seems likely that Anne also held stocks and was receiving dividends whilst she was still working in the mid-to-late 1930s. Given that she lived until 1995 that means we’re talking about somewhere in the region of sixty years’ worth of uninterrupted compounding.
Now, it goes without saying but a woman born in the 1890s living past one hundred years old was an exceptionally rare thing. Had Anne only lived an additional twenty years after retirement she would have died in the mid-1960s at the perfectly ‘normal’ age of 72. We would probably never have heard her story had she done so. To get a better feel for how important the time element is let’s consider her initial $5,000 lump sum received upon retirement. Had that been left for just twenty years to compound at a rate of 10% per annum (this is just an example figure not Anne’s annual total return) then it would’ve been worth approximately $33,000 at the end of the period. What if you double the length of the time to forty years? Well, in that case the total return more than quadruples to $140,000. If you then add just ten more years – extending the total “time in the market” to fifty years – then it quadruples again to just shy of $600,000.
Time is money as they say. The second secret to her success was her extremely unconventional lifestyle. Whilst remaining unmarried and childless is of course not uncommon it did help Anne achieve a freakishly high savings rate. Add in numerous eccentricities such as never buying new furniture and wearing the same clothes for nigh on half a century and it allowed her to hit a rate of something like 80% according to her attorney. All that cash was then put into blue chip stocks and bonds and left to compound away.
Thirdly it appears that Anne was a consummate buy-and-hold investor. Many of her investments were in the list of best performing stocks of the last fifty years and would have generated returns of around 15% per annum during her investing lifetime. These were mainly big healthcare companies and consumer defensives; stocks that Anne knew well and which have consistently generated extremely high quality profits.
In addition she seems to have practiced sensible diversification in her portfolio. Although most of the focus will obviously be on the stocks and shares portion of her portfolio Anne also contained a healthy allocation of bonds and cash. When the equity bear markets came around this would have served her well. Finally, and perhaps most important of all, she always reinvested dividends without fail. You can probably link that point to her almost obsessive levels of frugality as well.
After all most of us would’ve started consuming our dividends at some point! But that wasn’t Anne Scheiber. Almost every action that she took post-retirement was about increasing her ownership of productive cash generating assets. It’s an eccentric life to lead – some might even say a little sad – but she leaves behind a huge legacy for someone who worked a 9-to-5 without ever getting a promotion.