Gives a whole new meaning to, Show me the money.
Send the Earth Reverberating
Or, "Show me your money!"
I'd rather be an hour early than a minute late.
Nice follow up to yesterday's Real Life Wednesday's piece.
I'm thinking McCullough will get a crack at football on Sundays - long snapping is a solid trade, and Ohio State has some history there (Kevin Houser, Jake McQuaide, Bryce Haynes) - but good to see he's prepping for life beyond the field.
I think long snapper is historically one of the hardest position to get in the NFL, and it usually comes down a heavy dose of plain luck. Teams usually only have one and keep him for 10+ years so there are years where there basically aren’t any job openings.
IIRC, there was another Buckeye long snapper that got into financial trouble investing money for team mates and the coach of the New Orleans Saints.
Winning is a habit. Unfortunately, so is losing.
It was Kevin Houser.
The more I know ---------- thanks Dan
Good luck to Liam this season. Seems like a very intelligent kid.
Focusing on Penn State !!
It's not a rivalry .............. it's a wreckoning.
Seattle Sounders 2019 MLS Champions
Liam “show me the money” McCullough
TG Proud Buckeye alumnus.
Nice read Dan. I hope the ball bounces in his favor.
Lead, follow, or get out of my way!
Isn't talking about the possibility of having money in the future an NCAA violation?
No. Otherwise, every recruiting pitch that used the words, "We'll help you get to the League", which is virtually everyone, would be committing a violation.
I guess I should have used the sarcasm font...
Smart kid-preparing for the future......
Enjoying daily the 62-39 ttun beatdown.
will he wear this to work on the first day?
this kid is a winner, if only for the shirt.
Long snapper Liam McCullough wearing a shirt of himself wearing a shirt with his own photo on it. pic.twitter.com/oH8LHx90Z8
— Andrew Lind (@AndrewMLind) August 6, 2017
Goldman Sachs eh ... my opinion about that institution is similar to how I feel about TSUN.
The will to win is not as important as the will to prepare to win. -- Woody Hayes
Be careful... last time I expressed a negative opinion of Goldman Sachs on here, I was called a communist.
Life after football is so important for these young men and I am glad that Urban has put a huge emphasis on this. So Liam, could I get some advice on the side.
I admire the ambition but in my experience it is never good to do financial business with friends or family. It can destroy relationships.
As an independent investor—not an ultra high-net-worth individual—I don't like to pay big commissions and fees that many investors do. So I follow the investment advice of highly successful people in the investment world, like billionaire investor Warren Buffett, CEO of Berkshire Hathaway, and John Bogle, founder of investment giant, The Vanguard Group.
Upon his death, Buffett plans to leave to his wife a portfolio that is 90% invested in a low-expense S&P 500 index fund, and the rest in government bonds. Vanguard offers low-expense ETF’s (Exchange Traded Funds) for both. For example, VOO follows the S&P 500 index. Other companies also have such funds, including socially minded ETF's like DSI. Vanguard and others offer Bond ETF’s as well.
Low expense ETF's have worked well for me, especially over a long time frame (i.e., decades). Your mileage may vary.
Our honor defend, so we'll fight to the end !
I agree with this 100%. I play around with stocks here and there, but the bulk of the money that I invest goes directly into a Vanguard mid-cap ETF and a Roth IRA.
Not calling Buffett foolish, but it’d be absolutely a bad idea not to have a good chunk of your money in international stocks/funds/ETFs. Valuation-wise, most of the equity returns moving forward will likely be found here, considering that market cycles ebb and flow with US vs INTL stocks taking turns with each other for better performance.
"Thousands of tired, nerve-shaken, over-civilized people are beginning to find out that going to the mountains is going home; that wilderness is a necessity..." -John Muir
During the current US bull market, my international ETF's lost money over a year or so. Others may have been successful, but it seems to me that international stocks follow the US. But they didn't do as well.
Also, having international investments complicates your income tax return. So I sold mine at a slight loss and reinvested in US funds —which have done well.
Re: taxes, true in a non-retirement account. Not sure what you invested in that would have lost money last year on the international side...most international funds were up 25-30% last year, and emerging markets were up 30-45%...
MA - Absolutely correct.
Be careful making general statements about your specific investment performance, especially w/funds as you may have just picked the wrong ones. If your performance with "international/emerging markets" was down in 2017, you definitely had the wrong ones.
My IRA and investment/trust accounts have a different mix as they have different goals. I am in my late 50's so I also have a good mix of short term bond funds as well. For the most part, the portfolios are made up of emerging markets (mid and small), US large cap, US targeted value, short term bonds, and energy funds. IRA has Midcap SPDR's, dividend appreciation, US and international emerging markets, and short term bonds (greater protection for rate fluctuations).
For 2017, the portfolio was up 26%, not as high as some but better than others. Investment philosophy is to smooth out the highs and lows as much as possible as we are getting close to retirement.
YMMV, don't ever take investment advise from people like me, everyones situation is different. Work with a trusted pro (family or close friend recommendation) and/or do your homework!
Be careful making general statements about your specific investment performance, especially w/funds as you may have just picked the wrong ones.
This x100... most people pick their 401(k) investments looking at a short term view of return. So they’ll pick whatever has been doing well recently, while not factoring in the long term. Or, on the flipside, people will only look at the long-term return and not factor in sectors that are undervalued currently. Case in point - international has a terrible 5-year number, but the 1-year numbers are excellent and the outlook says that should continue.
I do follow Bogle/Buffet’s philosophies, but I do also agree with having some intl and emerging market exposure.
Their argument/philosophy is “why own international when you’ll be spending most of your money here?”. If the dollar strengthens, it’s a drag on foreign. Also, most large cap stocks inherently have international exposure already.
Good points. It’s about opportunity...take for example Alibaba, the Chinese equivalent of Amazon...with China’s crazy huge population, that’s a lot of revenue. Or take Taiwan Semiconductor Manufacturing...a Chinese company who makes the chips in most of our cell phones.
On the other side...take Coke, as American a company as you can get...gets 80%(!!) of its revenues from outside the US.
While you hear people say that in the US, “the rich get richer and the middle class is shrinking”...in many parts of the world, the middle class is expanding very quickly, hence access to goods and services that we have been accustomed to for decades.
That’s some of the best advice I’ve seen on this site.
I always tell my friends: if you want to play in the market, don’t. Just take a few grand out and head to Vegas. It’ll be a lot more fun and (likely depending on the size of your portfolio) much cheaper than you trying to chase winners and losers in the market. It’s a fool’s errand.
I will also ask them “John (Jack) Bogle and Warren Buffet say they aren’t smart enough to time the market, so why do you think you are?”
I’m a former advisor and realized that we, for the most part, just aren’t needed with better products like Vanguard.
Ultra high net worth would have more needs, because of setting up trusts, tax harvesting, etc, but for anyone that doesn’t have a trust, save your money and go index funds.
'show me the money'...
Good luck Liam!
16-2 is SWEET!
No offense to Liam, but when he graduates with a degree in finance, specializing in personal investments, he won't know sheet. It takes years of actual experience, in the markets, before you know squat. Using play money in college does not equate to experience. You have to have money on the line, at risk, over years, to figure out if you have it or not. Investments is the only thing I do now. And I only do it for myself. Would love to do it for others, but it is tough to separate you from them, and make both work. I learned on my own, the hard way. Hope he finds a mentor to really learn investments, and find that niche strategy that he is comfortable with. If I had had a mentor, instead of the experimentation that I used early on, I'd be worth 3-4 times what I am now. Love the aspirations of helping high worth clients. But hope he knows he doesn't know anything, once he graduates. Hope all works out for him in personal finance, as well as helping others become financially well off.
Knowing what you don't know, and knowing what you do know, and most important, knowing the difference......now you have something to work with.
That's why he needs to get the job, so he can get the experience. And at GS he'll be surrounded by some of the brightest minds that can be found with ultra-high worth clientele from around the world.
And it's not like GS is trading shares of GE.
As someone who works in this field as a financial advisor, I wish him all the best, although it has always amused me when people say that they only work with ultra high net worth people… Of course, who wouldn’t want to only work with millionaires… But the reality is that the way a portfolio is managed on $10k and $1 million is very similar, save some tax efficiency differences.
Yup all about keeping the money away from your silent partner aka the guberment
MA - Exactly right. The only variables may be for Trusts, estate planning and of course, how old you are and how close you are to retirement (and retirement goals). My advisor has everyone from $10k to multimillions in the same investments, only the percentages are variable. Retirees are mostly in bonds/extremely low risk funds vs. more aggressive instruments for younger folks. Folks like me in my 50's have a nice blend but are slowly transitioning towards retirement. He also helps with 401k investment advice (balancing with our overall portfolio), estate planning, insurance, taxes, etc.
Do your homework and don't play/time the market!
It’s good to see the value you see in working with someone - and that’s not to bash anyone who doesn’t. There are people out there who either don’t have the time, knowledge, desire (or all of those) and therefore want someone helping them. I liken it to getting your car worked on...lots of people know what they’re doing and choose to change their own oil, and some people choose to take it to the dealer/mechanic. Both crowds are usually content with whatever they prefer.
Thanks. I think it all comes back to performance, investment philosophy, listening to clients, etc. There are too many "financial advisors" out there who don't have a freaking clue what they are doing. Or worse, know exactly what they are doing and just sit back and enjoy the fees regardless of performance and churn through clients over time.
We got burned once early in our lives (passive management by the advisor and lost a lot due to changes in economy and lack of portfolio diversity). I took over the management of our investments and did fairly well over the years but as my career progressed, there was a lot more in terms of complexity. Things like deferred compensation, stock options, college, pension plan cash outs/consolidations, estate planning/protection, life insurance, tax implications, and most importantly, retirement. Through family members, I found our guy 10 years ago and have not looked back. Been very happy with the results and look forward to retirement in about 6-8 years.
Congrats and well-done!
I got a finance degree - well done my man
I wish Tom Ryan would start implementing RLW for the wrestling team. The message should be would you rather be in a major US city where you can have internships with Fortune 500 companies or in a cow pasture in rural Pennsylvania?
I'd hate to see a nice kid like that end up at a soul sucking company like GS.
Long snapper is too seldomly mentioned but perhaps that's a testimony to the fact it is a job being done well. Continue to success Buckeye. In every avenue you chose to follow. You are certainly appreciated.