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Korving & Company, LLC
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Is OPEC Headed for the Ash Heap of History? - We read an intriguing essay by Brian Wesbury of First Trust today.  Using the phrase that Ronald Reagan used nearly 25 years ago about the Soviet Union about Marxism and Leninism being left on the “ash-heap of history,” Wesbury thinks that OPEC (Organization of Petroleum Exporting Countries) may be headed the same way. Now it appears OPEC, another nemesis of the US from the prior century is heading for the ash heap of history as well, not becaus...

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Norfolk Southern beats the street - From the AP: NORFOLK, Va. (AP) _ Norfolk Southern Corp. (NSC) on Thursday reported first-quarter earnings of $387 million. On a per-share basis, the Norfolk, Virginia-based company said it had profit of $1.29. The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share. The railroad posted revenue of $2.42 billion in the period, also surpassing Street forecasts...

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Independent Wealth Managers vs. Wirehouses - If you had the choice, would you rather shop at a boutique or a chain store?  You know what you get at a chain store: pre-packaged products on shelves that meet most of your needs but no personal service.  A boutique provides you with a lot more product selection, a high level of personal service and saves you time in meeting your needs. The reason that so many people go to chain stores for groceries, hardware and clothing is that they usually of...

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What are your retirement goals? - A recent issue of Financial Advisor magazine reports that “millennials” (people between age 18 and 34) view retirement goals differently from their parents. Instead of viewing retirement starting at a certain age, like 65, millennials expect to retire when they reach a certain financial goal. Fifty-three percent of millennials view retirement as the start of something exciting. In comparison to their elders, 21 percent of millennials are more likely to make...

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You and your Super-Yacht. - Have you ever glanced at the pictures of the rich and famous having a party on the deck of a Super-Yacht somewhere in the Caribbean or Mediterranean?  Have you wondered what would it cost to party like that?  Well, it is expensive, but not impossible.  You see, they probably don’t own the yachts, they rent them. In the April 15th issue of Private Wealth, they discuss what it takes. Lounging in the Caribbean aboard a beautiful, 100-foot superyacht sounds pretty gr...

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Major Investment Firm Finds Most 401(k) Participants Stressed About Finances

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How Advisors Can Help Surviving Spouses - Investopedia published an article we authored. When the subject of death comes up, a term that’s often used to describe the feelings of those left behind is “loss.” But there is more to that loss than the loss of companionship. There’s also the loss of information, especially if the person who died also handled the family finances. In my 30 years of experience advising families I have often had to help and council widows who depended on their husban...

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Why do elderly Japanese want to go to prison? - I read an interesting comment by Art Cashin that bears considering. Japan’s prison system is being driven to budgetary crisis by demographics, a welfare shortfall and a new, pernicious breed of villain: the recidivist retiree. And the silver-haired crooks, say academics, are desperate to be behind bars. Crime figures show that about 35 per cent of shoplifting offenses are committed by people over 60. Within that age bracket, 40 per cent of rep...

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The Fiduciary Rule and You - The Department of Labor (DOL) has issued its final version of the fiduciary rule regarding retirement accounts.  The issue that the DOL is trying to address is that broker-dealers (major investment firms like MLPFS, UBS, etc.) do not have to act in their clients’ best interest.  They only have make recommendations that are “suitable.”  What that means is that if a broker-dealer representative has the choice between recommending two investments, they can recommen...
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