I don’t know if they have a minimum, but their average investor is at 160k according to their SEC documents. The average for their high net worth individuals is 1.5M.
https://files.adviserinfo.sec.gov/IAPD/content/viewform/adv/Sections/iapd_AdvAdvisoryBusinessSection.aspx?ORG_PK=154405&FLNG_PK=0560C84A000801DE00DD67B10542251D056C8CC0
I like your profile picture, but this tree of liberty seems more appropriate for the times.
Paul says media is dangling in front of us the lucky individual who (probably randomly) picked the right winner in the fake stock market bubble. And of course, it’s hard to opt out of this rigged system.
Talib, decades ago, made a hard to refute point that in fact, given the exposure of middle class working stiffs to overwhelming systemic risk that comes from our dysfunctional system that rewards only risk, not prudence, most main street people would only achieve a comfortable life by gambling.
A 9-5 professional job has so much risk, most will never achieve and financial independence and many will be wiped out by:
1 Criminal managements stealing their company blind and running away with their personal fortunes while creditors, employees and vendors all are left holding the bags. And then going on to do it to another company.
2. Government corruption transferring risk from main street to “too big to fail” businesses who can now be as irresponsible as they want with no consequences except a taxpayer bail out. [as we continue to point out, none of these fraudsters went to jail in 2008]
3) Hedge funds, day traders, equity funds . . . all of which have business models based on cheap loans courtesy of their friends at the FED, transferring risk to main street, and a revolving door which makes their obviously unethical machinations legal by regulatory fiat. “When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.” –Frédéric Bastiat
@cmartenson
In 2019, our local Arboretum did a ranger-led night hike on the summer solstice. It was a magical world of wetlands, woods, meadows. And then the lightening bugs came out EVERYWHERE. The hike slowed down as we enjoyed the wonder. It reminded many of us of summer nights when we were kids AND such displays are indeed rarer.
FYI, I am finding more bugs on my windshield.
Me too
This has been a great spring for fireflies.
I love Paul. He is a true southern gentleman. We need more men like him. I met him at Honey Badger last year and I feel privileged. I met his wife too. She did okay!
