Our busy lives can make it hard to manage an in-person meeting. This is especially true of our clients who live in other states. We have started using Zoom Teleconferencing and have found it to be a nice way to have face-to-face meetings when in-person doesn’t work.
We learned: that the man who bet $85,000 that Tiger Woods would win the Masters is trying to extend his good fortune with an additional $100,000 bet. If he is successful in his wager that Tiger will win the next 3 major golf tournaments, he will win $10 million. History and good sense are against him, and we hope others don’t follow his example.
We think: our society could benefit from this quote by James Baldwin (via Tim Ferris): "I imagine one of the reasons people cling to their hates so stubbornly is because they sense, once hate is gone, they will be forced to deal with pain."
We read: a report from the Mayo Clinic examining the origins of the Opioid crisis. As with many complicated issues, there is no single guilty party, and any solutions will have to be multifaceted.
We recommend: this glimpse into the history of Botswana. Botswana is an interesting case study in how to build a functional government while dealing with many challenges. The piece explains the things that have helped Botswana prosper relative to many other developing countries. Included in these is the influence of a small number of politically dominant families
Q: What is the real impact of tariffs on my money?
A: It’s too early to assess the final impact on the market, besides the ups-and-downs that have recently been attributed to the trade dispute. As for the economy, Empirical Research Partners estimates that new and existing tariffs will detract 0.5% from GDP. This is a meaningful reduction and it is reasonable to expect it to put more pressure on the market if no resolution is reached. This may come as companies report on the impact of tariffs on their earnings, or before that as investors anticipate those declines.