Finance

What Are Art Freeports?

November 9, 2023

(photo: MHM55)

In the labyrinthine world of high-value art, not all masterpieces spend their days adorning the walls of museums or luxury homes. Some find themselves in the less glamorous, albeit strategically advantageous, confines of art freeports. These storage facilities, often located near airports or in tax-friendly jurisdictions, are the art world’s open secret, a place where the wealthy can store valuable pieces—sometimes indefinitely—away from the prying eyes of tax authorities. This article sheds light on the enigmatic world of art freeports and their controversial role in the realm of tax evasion.

What is a Hostile Takeover of a Corporation?

August 14, 2023

In business generally the way that one company takes over another is through negotiations, contracts, and payment. Look at it like this: Company A wants to obtain Company B. Company A and B begin having discussions where Company A outlines all of the advantages of being acquired by Company A (e.g. easier access to resources, streamlined processes, a stronger legal department to protect against lawsuits, etc.) until eventually an agreement is made and Company A takes over Company B.

What Are The Options Available For Older People Who Have Little To No Retirement Savings?

August 1, 2023

The reality of retirement savings in America is starkly different from the ideal. While Americans envision needing a substantial $1.25 million for a comfortable retirement, the truth is that a significant number of older individuals are approaching their golden years without any retirement savings at all. According to a survey by financial services firm Credit Karma, about 27% of people aged 59 or older have no retirement savings.

What Does it Mean to Be Weird With Your Money?

July 28, 2023

What does it mean to be weird with your money? According to financial guru Dave Ramsey, being weird with money means going against the grain of conventional financial wisdom. It means rejecting the status quo of debt, overspending, and living without a plan.

He urges people to figure out what most folks are doing with their money and then do the exact opposite. The reason being – most people are broke. If you emulate the behaviors and habits of the majority, you will end up with the same poor results.

Why Is Going To The Hospital So Ridiculously Expensive?

July 20, 2023

why is hospital so expensive

I’m a professional managed care contract negotiator for a major health system in the US who also teaches health administration classes at a local university. Let me try to be comprehensive:

There’s a difference between what’s price and cost. Hospital prices are what hospitals charge for a service. Like any other business, charges include the direct costs (supplies, clinician time, etc.) and indirect costs (power bill, departmental overhead, etc.). Included in the indirect cost is always an amount to cover uncompensated care. This is cost incurred by people who can’t or don’t pay their bills, and it’s re-allocated into future pricing, creating inflated charges, which are reported as the “price” for healthcare services in the media and quoted by politicians. edit In addition, government programs with set payment systems (i.e Medicare, Medicaid) often cover some, but not all of the direct cost of care. This too is passed on in the pricing.

What is the FIRE Movement?

July 13, 2023

For many, the standard retirement timeline looks like this: Work hard at your career until around age 65, then finally stop working and start enjoying life. But some are challenging this narrative by pursuing FIRE – Financial Independence, Retire Early.

What is the Yield Curve?

July 12, 2023

The yield curve shows how interest rates on bonds change for different time periods. Bonds are basically loans that investors make to the government or companies. The investor gets paid an interest rate on the bond.

How Much Annual Salary Would You Have To Make To Be Considered Well-Off In Silicon Valley?

July 6, 2023

Don’t confuse annual salary with total compensation. The companies I worked for kept the “base pay” relatively low. In the lean years (and there are always lean years), living on the base pay was a challenge.

Why Won’t Crypto See Mass Adoption In Its Current Form?

June 12, 2023

40703602-34470369

You see mom/son/friend, you need to have self custody. You’re your own bank. Cold wallet and hot wallet. Seeds in three copies, none of them on the computer or your phone. Two locations is a must.

But first you need to buy the crypto you want on a CeX. Preferably a reputable one which you think is safe. Which one is that? Right now, none of them seems like it. But I digress.

You need to do the KYC procedure in order to do business on a CeX. Yes, that does take a week or so. Yes, they can not accept your KYC. Yes, they can ask for your Internet invoice for the last 3 months.

Why Is Economic Deflation a Bad Thing?

May 26, 2023

Deflation is very dangerous to the economy and the government will do anything to avoid it.

Imagine wanting to buy new sofa that costs 1,000. Next month it will be 900. Month after it will be 700. Would you buy it now? Or would you wait and save 300 bucks?

Think about how deflation would affect super-rich people investing their money.