Insights: Timing, inadequate inheritance planning, dorm rooms, world's best companies + Lunch Atop a Skyscraper
Good reads:
?
·???????? Weekly Investment Strategy
·???????? Don’t squander your legacy
?
?
?
Best quote of the week:
?
“No one is afraid of heights, they're afraid of falling down.” – Kurt Cobain
?
?
?
Best chart of the week:
?
Investors often ask about timing the market with questions such as “is this a good time to invest”, “should I wait for a pullback to invest,” “should I go to cash when markets are volatile,” etc.? The very short answer is that you should not try to time the market if you’re a long-term investor with a high-quality portfolio. Countless studies have shown that it does not work out.
Below is a great chart from A Wealth of Common Sense that shows that even if you have absolutely horrible luck and you always invest at the top of the market (as in, right before a crash), the results for long-term investors have still worked out.
Obviously, it’s not an ideal scenario, but if you did manage to invest at precisely the wrong time, it’s best not to dwell on the past and instead to focus on the future.
?
?
?
Best soundbites of the week:
?
Wondering why I always stress the importance of proper inheritance planning? Here is a great summary from Money Sense magazine on some of the pitfalls that can occur with inadequate inheritance planning:
?
?
?
Did you send kids off to university or college this year? Well apparently, moving into a dorm room is a bit more of an elevated experience for some than what I experienced many years ago. According to The New York Times, some students are arriving on campus with interior designers .
?
This year, she had more than 200 dorm clients, requiring 25 seasonal employees. She charges about $10,000 per room ($5,000 per student) for the full service, which requires Ms. Montgomery and her team to arrive on move-in day and put together the rooms from scratch. Ms. Montgomery charges $100 for the initial consultation where the young women — because it’s almost always young women — go through fabric options and chat about their goals for their dorm room. Most of the students are looking for the custom bedding and drapery, a fancy cabinet to hide the mini-fridge and microwave, wallpaper and a matching headboard. But some have bigger expectations.
?
In a rare case, Joyce Huston, the lead interior designer and co-founder of Decorilla in New York, worked with a male client (she too, tends to have female dorm clients), and he requested that his dorm room be converted into an Amazon rainforest.
?
“He wanted to have living walls, water features, everything,” Ms. Huston said. “After a lot of meetings, sharing ideas and setting expectations, we agreed on a gorgeous plan: We added some plants, a breathtaking mural and a funky hanging chair.”
?
?
?
Raymond James recognized once again on TIME Magazine’s World’s Best Companies list
?
I’m excited to announce that Raymond James has been recognized once again on TIME Magazine’s World’s Best Companies list. This honour celebrates our commitment to employee satisfaction and sustainability, to name a few. Learn more here :
领英推荐
?
?
?
?
Beyond the markets:
?
?
The photo, Lunch Atop a Skyscraper, is iconic for so many reasons. Here are some interesting facts about it:
?
·???????? There are still doubts about the photographer’s identity. One name that keeps coming up is Charles C. Ebbets, who actually received credit for it for a while. But other photographers were up there that day, too, including William Leftwich and Thomas Kelley, and so the Rockefeller archive and Corbis removed any official credit and attributed the photo to “unknown.”
·???????? Corbis owned the rights to the glass negative to Lunch Atop a Skyscraper from 1995 to 2016, until the company sold its images archive. In that time, it was the best-selling historical image in Corbis’s portfolio.
·???????? The photo was taken to publicize the construction of Rockefeller Center. It was meant to show an expanding city and the workforce behind it, which was a rare bright spot for the public to hang on to during the Great Depression.
·???????? There was more than just this single shot taken that day. In addition to photos featuring different poses for the 11 men on the beam, there’s also a rarely seen picture of four of the men stretched out across it, taking a well-deserved nap.
·???????? The original negative for Lunch Atop a Skyscraper is stored in a cave in Pennsylvania called Iron Mountain. The secure and confidential facility spans 1.8 million square feet and stores priceless artwork, photos, film negatives, pieces of music, and government documents from all around the world.
·???????? Much like the man behind the lens, the 11 workers in front of the camera have been a mystery to historians as well. Only two of them have been positively identified: Joseph Eckner (the third from the left) and Joe Curtis (third from the right).
·???????? More than 40,000 people worked on the building, and no work records exist!
?
Source: Mental Floss
?
?
?
Thanks for reading, and I wish everyone a wonderful weekend!
?
Cheers,
Kim
?
Kim Inglis, BCom, CIM, PFP, FCSI, RIAC
Senior Portfolio Manager
?
T: 416.777.6417 (Toronto)
T: 604.654.1160 (Vancouver)
T: 250.979.1803 (Kelowna)
TF: 1.877.363.1024
?
? ?
?
?
?
?
?
The opinions expressed in this newsletter are those of the Financial Advisor Kim Inglis, BCom, CIM, PFP, FCSI, CAFA and not necessarily those of Raymond James Ltd. (“RJL”) or Raymond James (USA) Ltd. (“RJLU”).? Statistics, factual data and other information presented are from sources, believed to be reliable but accuracy cannot be guaranteed. It is furnished on the basis and understanding that Raymond James Ltd. and Raymond James (USA) Ltd. is to be under no liability whatsoever in respect thereof. It is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Raymond James Ltd. and Raymond James (USA) Ltd. financial advisors may only transact business in provinces and/or states where they are registered. Follow-up and individualized responses involving either the effecting of or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in provinces or states where the financial advisor is not registered. Raymond James Ltd. is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund. Raymond James (USA) Ltd. is a member of FINRA /SIPC . Raymond James (USA) Ltd. (RJLU) and advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. This provides links to other Internet sites for the convenience of users. Raymond James Ltd. is not responsible for the availability or content of these external sites, nor does Raymond James Ltd endorse, warrant or guarantee the products, services or information described or offered at these other Internet sites. Users cannot assume that the external sites will abide by the same privacy policy which Raymond James Ltd adheres to.