The Trouble with Twitter

This article is homage to the most popular original “Star Trek” episode: “The Trouble with Tribbles.” For those who are non-trekkies, don’t let the theme dissuade you. And for those of you who bleed green, eat “Gahk,” and who know what a “Jeffries Tube” is, please don’t treat me like “Red Shirt #1.” I am not a “Herbert.”

 

A Tribble was a cute little furry creature whose only purpose in life was to purr contentedly when petted, thus soothing its owner. We learned that their only other functions were to eat, procreate—in fact, they were born pregnant—and hate Klingons. The Tribbles discovered that the valued shipment of the seed grain “Quatro-triti-cali” was poisoned when some Tribbles found their way into the storage bins and starved to death while gorging themselves on the cargo. The Klingons had perpetrated the foul deed. In the end, as the Klingons beat a hasty retreat, all of the living Tribbles were beamed into the “Bird of Prey’s” engine room, gumming up the works.  Read More

Financial Benchmarking

An accepted principle of portfolio management is rebalancing—the process of restoring a portfolio to its original mix that was designed to meet a specific investing goal. When parts of the portfolio have grown out of proportion to the benchmarks you set, you pare back those that have grown and direct investments to areas that have not.

 

The same principle applies to managing your practice. For most business owners, it is difficult to have all elements of the business consistently performing at the optimal level, year in and year out. Some things go well and some things need work. Do you keep investing in that which is hitting on all cylinders, or do you reallocate to areas that need help? Certain economic realities apply to all businesses in an industry. Benchmarking provides a yardstick for improving competitiveness. Its data identifies the ranges of ratios in which like-sized companies in the same industry operate.  Read More

When You Don’t Have a Leg to Stand On

You Are Still a Financial Advisor, Even if You Have a Temporary Disability

 

The follies of my youth revisited me over the last six months. Back in the 1970s I fell off my “Tony Orlando shoes.” I was young and indestructible, so I didn’t bother seeing a doctor about my sprained ankle. It took a few weeks to stop hurting, but then all seemed well. Over the decades (dare I say “centuries”) I had a weak ankle that might hurt from time-to-time, but otherwise I gave it no further thought. Flash forward to 2010. That ankle started hurting bad enough for me to go to the doctor. Four doctors, a walking boot, two casts, crutches, and a brace later, the peroneus brevis and peroneus longus tendons started snapping and fraying like the worn speedometer cable of a 1964 Dodge Dart. Surgery became immediately necessary, and the doctor says that I won’t be walking for at least three weeks, maybe longer.  Read More