Tag Archive | "oecd"

Three Words Create a FAB Idea


Here are three steps we can take to have a fabulous lifestyle.

These steps, that can create a fab future, can be summed in three words, “Change… Our… Perception”.

ecuador-car-rentals

This was my first car when I turned 16, a powder blue 58 Chevy.  That seemed like a great car… then.  I would not want to drive it (even if it were new) much now.  Human nature causes us to look at the past as “good old days”.   Production standards have risen a lot in recent decades but, by romancing the past, we can forget how much better so many products are now.

We tend to look at the past with rose colored glasses.  The past becomes “the good old days” even when they were not so good.  This rosy tint is created by a form of memory bias, called “Fading Affect Bias” or FAB.  FAB is caused by a neurobiological reaction in many mammals.  FAB makes positive events in our past more attractive than negative events.  As time passes, we remember the events that made us feel good more than those that made us feel bad.

FAB is great in some ways.  Dwelling on past negatives (except to learn and improve from them) does not get us anywhere.  Nor does “downer thinking” feel good.  The downside is that FAB allows us to fool ourselves into making errors, such as thinking that returning to the past will make the future better.  FAB can rob us of the excitement and adventure of living in such wonderful times of opportunity right now.

For example, a Wall Street Journal article “Economists Disagree With Voters Who See U.S. Worse Off Today Than in 1960s” (1) reviews a poll that asked if life in America is better today than 50 years ago.   A plurality of 46% said things were worse now.  Only 34% said life today is better than in the 1960s.

Yet 88% of economists who were asked in a poll said the U.S. is better today than in 1960 and 87% see today as better than 1980.

The facts are clear.  Industrialized society has seen a six times increase in wealth in the last century.  Almost everyone is richer even though most of the world has become cynical.  Modern communications allow us to better see growing discrepancies between the rich and poor.  This clearer picture of reality creates anger, turmoil, hatred and war.

There are many factors that make it seem like the quality of life has deteriorated in the past few decades.  Wages and available jobs have deteriorated for some groups, especially men without high-school diplomas and men working in manufacturing.  This is a large group so this change is often covered in the news.

Uncertainty is far higher.  Americans, overall, may be wealthier than in the past, but faster change and destructive technology have created more uncertain times in the labor market.  There are not many cradle to grave jobs left.  This might seem like bad news for those who have forgotten the messages contained in “The Man in the Gray Flannel Suit”.

Plus the technology of connectiveness makes the world a less connected place.  Our interface with so many businesses are with computers, recordings, algorithms, websites, instead of people.  No mater how good these contacts are, none of them are much of a match for a human voice that asks, “How are you?  How can I help?” and means it.

When we are turned into numbers instead of names and when we lose human contact, we feel caught in more of a hostile, frustrating, uncaring habitat.

The difference between the rich and the poor everywhere makes many people unhappy.  The US has one of the worst discrepancies between the top and bottom 10% of wealth.  This is good if you want to be really rich.  The US is a great place to become rich but we Americans need to reduce this income discrepancy.

Yet the fact remains that wealth is growing around the world and that US standards and growth are among the best.

One of the core principles of our investing and business philosophy for almost 50 years has been to live, bank and invest where it is best for you, not just where you were born.  This does NOT mean that where you were born and live is not the best place to be or to invest.  

Merri and I have lived all over the world, the US, London, Ecuador, Dominican Republic, Isle of Man, England, Germany and Hong Kong.  We choose to live in the USA.   This is the best place for us, for now, based on our  particular circumstances.  Yet we are not investing in US shares.  The US economy and stock market have incredible opportunity, but right now investors pay way too much for the US shares.  The USA is a great place to be but the US stock market as a whole is overvalued.

Europe is a great place to be right now as well and the MSCI USA Index Price to Book Value is 40% higher than the MSCI Europe Index.  The US Index’s average dividend yield is 71% lower than Europe’s.

keppler chart

The best value is the Keppler Developed Markets Top Value Portfolio.  The price to book value of this portfolio is 1.27 compared to the MSCI US index of 2.81.   We can can enjoy the benefits of living in the US, or wherever is best us, but we can also invest in stocks where they give us the best value.

Here are three ways to change our perceptions so we can enjoy and profit from the “Good Now Days”.

#1: Realize that it is human nature to look at the past through rose colored glasses as well as to resist change.  We can avoid making this error and look for ways that such incorrect thinking creates value in the here and now.

#2: Measure the here and now in factual mathematical terms instead of drama laden daily news.  Use financial information instead of advertising driven, subscription based economic news.

#3:  We can look for and at the current successes all around us instead of focusing on failures.  We can seek understanding of why these successes are working now and look for ways to incorporate such lessons into our lives.

These three steps can help us create a fab lifestyle of excitement, adventure and fulfillment right now.

Gary

(1) http://www.wsj.com/articles/economists-disagree-with-voters-who-see-u-s-worse-off-today-than-in-1960s-1463061602

Investing Beyond the Boom

Warren Buffet once warned against the Cinderella effect.

He said “Don’t be fooled by that Cinderella feeling you get from great returns.  Nothing sedates rationality like large doses of effortless money.  After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball.  They know the party must end but nevertheless hate to miss a single minute of what is one helluva party.  Therefore, the giddy participants all plan to leave just seconds before midnight. There’s a problem, though: They are dancing in a room in which the clocks have no hands.”

Cinderella may have lost a shoe when she fled the party to meet a midnight curfew.  We can lose much more when we rush from a crashing stock market.

Most investors face emotional dangers that build in rising markets.

Almost everyone feels good.

But the clock of economic reckoning is ticking.

No wants to see it.  Nothing rises forever and especially… not everything at the same time.

Yet no one wants to leave the party until the end.

But many edge closer to the door.

When the clock chimes there could be a stampede even though leaving in a hurry may be the worst way to go.

Here are seven steps that can help avoid this risk.

  • Choose investments based on markets instead of shares.
  • Diversify based on value.
  • Rely on financial information rather than economic news.
  • Keep investing simple.
  • Keep investing costs low.
  • Trade as little as possible.
  • Make the decision process during panics automatic.

One strategy is to invest in country ETFs that easily provide diversified, risk-controlled investments in countries with stock markets of good value.  These ETFs provide an easy, simple and effective approach to zeroing in on value.  Little management and less guesswork is required.  The expense ratios for most ETFs are lower than those of the average mutual funds.  Plus a single country ETF provides diversification equal to investing in dozens, even hundreds of shares.

A minimum of knowledge, time, management or guesswork are required.

The importance of…

easy…

transparent…

and inexpensive. 

Keeping investing simple is one of the most valuable, but least looked at, ways to avoid disaster.  Simple and easy investing saves time.  How much is your time worth?  Simple investing costs less and avoids fast decisions during stressful times in complex situations where we are most likely to get it wrong.

Fear, regret and greed are an investor’s chief problem.  Human nature causes  investors to sell winners too soon, and hold losers too long.

Easy to use, low cost, mathematically based habits and routines help protect against negative emotions and impulse investing.

Take control of your investing.  Make decisions based on data and discipline, not gut feelings.  The Purposeful investing Course (Pi) teaches math based, low cost ways to diversify in good value markets and in ETFs  that cover these markets.  This course is based on my 50 years of investing experience combined with wisdom gained from some of the world’s best investment managers and economic mathematical scientists.

Enjoy Repeated Wealth With Pi

Pi’s mission is to make it easy for anyone to have a strategy and tactics that continually maintain safety and turn market turmoil into extra profit.

One secret is to invest with a purpose beyond the immediate returns.  This helps create faith in a strategy that adds stickiness to the plan.

Another tactic is to invest with enough staying power so you’re never caught short.

Never have to sell depressed assets during periods of loss.

Lessons from Pi are based on the creation and management of Model Portfolios, called Pifolios.

The success of Pifolios is based on ignoring economic news (often created by someone with vested interests) and using financial math that reveals deeper economic truths.

One Pifolio covers all the good value developed markets.  Another covers the emerging good value markets.

The Pifolio analysis begins with a continual research of 46 major stock markets that compares their value based on:

#1:  Current book to price

#2:  Cash flow to price

#3:  Earnings to price

#4:  Average dividend yield

#5:  Return on equity

#6:  Cash flow return.

#7:  Market history

This is a complete and continual study of almost all the developed major and emerging stock markets.

This mathematical analysis forms the basis of a Good Value Stock Market Strategy.   The analysis is rational, mathematical and does not worry about short term ups and downs.

This strategy is easy for anyone to follow and use.  Pi reveals the best value markets and provides contacts to managers and analysts and Country Index ETFs so almost anyone can create and follow their own strategy.

Learn how to invest like a pro from the inside out.

At the beginning of 2019 my personal Pifolio is based on select ETFs in the Keppler Developed and Emerging markets.  My Pifolio is invested in Country ETFs that cover seven developed and three emerging markets:

Norway
Australia
Hong Kong
Germany
Japan
Singapore
United Kingdom
Taiwan
South Korea
China

Don’t give up profit to gain ease and safety!

Regardless of economic news, these markets represent good value and have been chosen based on four pillars of valuation.

  • Absolute Valuation
  • Relative Valuation
  • Current versus Historic Valuation
  • Current Relative versus Relative Historic Valuation

When you subscribe to Pi, you immediately receive a 120 page basic training course that teaches the Pi Strategy.   You learn all the Pi strategies, what they are, how to use them and what each can do for you, your lifestyle and investing.

You also begin receiving regular emailed Pifiolio updates and online access to all the Pifolio updates of the last two years.  Each update examines the current activity in a Pifolio, how it is changing, why and how the changes might help your investing or not.

Included in the basic training is an additional 120 page PDF value analysis of 46 stock markets (23 developed markets and 23 emerging stock markets).  This analysis looks at the price to book, price to earnings, average yield and much more.

You also receive two special reports.

In the 1980s, a remarkable set of two economic circumstances helped anyone who spotted them become remarkably rich.  Some of my readers made enough to retire.  Others picked up 50% currency gains.  Then the cycle ended.  Warren Buffett explained the importance of this ending in a 1999 Fortune magazine interview.  He said:  Let me summarize what I’ve been saying about the stock market: I think it’s very hard to come up with a persuasive case that equities will over the next 17 years perform anything like—anything like—they’ve performed in the past 17!

I did well then, but always thought, “I should have invested more!”  Now those circumstances have come together and I am investing in them again.

The circumstances that created fortunes 30 years ago were an overvalued US market (compared to global markets) and an overvalued US dollar.  The two conditions are in place again!

30 years ago, the US dollar rose along with Wall Street.  Profits came quickly over three years.  Then the dollar dropped like a stone, by 51%  in just two years.  A repeat of this pattern is growing and could create up to 50% extra profit if we start using strong dollars to accumulate good value stock market ETFs in other currencies.

This is the most exciting opportunity I have seen since we started sending our reports on international investing ideas more than three decades ago.  The trends are so clear that I have created a short, but powerful report “Three Currency Patterns for 50% Profits or More.”   This report shows how to earn an extra 50% from currency shifts with even small investments.  I kept the report short and simple, but included links to 153 pages of  Good Value Stock Market research and Asset Allocation Analysis.

The report shows 20 good value investments and a really powerful tactic that shows the most effective and least expensive way to accumulate these bargains in large or even very small amounts (less than $5,000).  There is extra profit potential of at least 50% so the report is worth a lot.

This report sells for $29.95 but in this special offer, you receive the report, “Three Currency Patterns for 50% Profits or More” FREE when you subscribe to Pi.

Plus get the $39.95 report “The Silver Dip 2019” free.

With investors watching global stock markets bounce up and down, many missed two really important profit generating events over the last two years.  The price of silver dipped below $14 an ounce as did shares of the iShares Silver ETF (SLV).   The second event is that the silver gold ratio hit 80, compared to a ratio of 230 only two years before.

In September 2015, I prepared a special report “Silver Dip 2015” about a silver speculation, leveraged with a British pound loan, that could increase the returns in a safe portfolio by as much as eight times.  The tactics described in that report generated 62.48% profit in just nine months.

I have updated this report and added how to use the Silver Dip Strategy with platinum.   The “Silver Dip 2019” report shares the latest in a series of long term lessons gained through 40 years of speculating and investing in precious metals.  I released the 2015 report, when the gold silver ratio slipped to 80.  The ratio has corrected and that profit has been taken and now a new precious metals dip has emerged.

I have prepared a new special report “Silver Dip 2019” about a leveraged speculation that can increase the returns in a safe portfolio by as much as eight times.

You also learn from the Value Investing Seminar, our premier course, that we have been conducting for over 30 years.  Tens of thousands of delegates have paid up to $999 to attend.  Now you can join the seminar online FREE in this special offer.

This three day course is available in sessions that are 10 to 20 minutes long for easy, convenient learning.   You can listen to each session any time and as often as you desire.

The sooner you hear what I have to say about current markets, the better you’ll be able to cash in on perhaps the best investing opportunity since 1982.

seminars

Tens of thousands have paid up to $999 to attend.

This year I celebrated my 51st anniversary of writing about global investing.  Our reports and seminars have helped readers have better lives, with less stress yet make fortunes during up and down markets for decades.  This information is invaluable to investors large and small because even small amounts can easily be invested in the good value shares we cover in our seminar.

Stock and currency markets are cyclical.  These cycles create extra profit for value investors who invest when everyone else has the markets wrong.  One special seminar session looks at how to spot value from cycles.  Stocks rise from the cycle of war, productivity and demographics.  Cycles create recurring profits.  Economies and stock markets cycle up and down around every 15 to 20 years as shown in this graph.

stock-Charts

The effect of war cycles on the US Stock Market since 1906.

Bull and bear cycles are based on cycles of human interaction, war, technology and productivity.  Economic downturns can create war.

The chart above shows the war – stock market cycle.  Military struggles (like the Civil War, WWI, WWII and the Cold War: WW III) super charge inventiveness that creates new forms of productivity…the steam engine, the internal combustion engine,  production line processes, jet engines, TV, farming techniques, plastics, telephone, computer and lastly during the Cold War, the internet.  The military technology shifts to domestic use.  A boom is created that leads to excess.  Excess leads to correction. Correction creates an economic downturn and again to war.

Details in the online seminar include:

* How to easily buy global currencies, shares and bonds.

* Trading down and the benefits of investing in real estate in Small Town USA.  We will share why this breakout value is special and why we have been recommending good value real estate in this area since 2009.

* What’s up with gold and silver?  One session looks at my current position on gold and silver and asset protection.  We review the state of the precious metal markets and potential problems ahead for US dollars.  Learn how low interest rates eliminate  opportunity costs of diversification in precious metals and foreign currencies.

* How to improve safety and increase profit with leverage and staying power.  The seminar reveals Warren Buffett’s value investing strategy from research published at Yale University’s website.  This research shows that the stocks Buffet chooses are safe (with low beta and low volatility), cheap (value stocks with low price-to-book ratios), and high quality (stocks of companies that are profitable, stable, growing, and with high payout ratios). His big, extra profits come from leverage and staying power.  At times Buffet’s portfolio, as all value portfolios, has fallen, but he has been willing and able to wait long periods for the value to reveal itself and prices to recover.

Use time not timing.

Time is your friend when you use a good value strategy.  The longer you can hold onto a well balanced good value portfolio, the better the odds of outstanding success.

A 45 year portfolio study shows that holding a diversified good value portfolio (based on a  good value strategy) for 13 month’s time, increases the probability of out performance to 70%.  However those who can hold the portfolio for five years gain a 88% probability of beating the bellwether in the market and after ten years the probability increases to 97.5%.

Learn how much leverage to use.  Leverage is like medicine, the key is dose.  The best ratio is normally 1.6 to 1.  We’ll sum up the strategy; how to leverage cheap, safe, quality stocks and for what period of time based on the times and each individual’s circumstances.

Learn to plan in a way so you never run out of money.  The seminar also has a session on the importance of having and sticking to a plan.  See how success is dependent on conviction, wherewithal, and skill to operate with leverage and significant risk.  Learn a three point strategy based on my 50 years of investing experience combined with wisdom gained from some of the world’s best investment managers and economic mathematical scientists.

The online seminar also reveals  the results of a $80,000 share purchase cost test that found the least expensive way to invest in good value.  The keys to this portfolio are good value, low cost, minimal fuss and bother.  Plus a great savings of time.  Trading is minimal, usually not more than one or two shares are bought or sold in a year.  I wanted to find the very least expensive way to create and hold this portfolio so I performed this test.

I have good news about the cost of the seminar as well.   For almost three decades the seminar fee has been $799 for one or $999 for a couple. Tens of thousands paid this price, but online the seminar is $297.

In this special offer, you can get this online seminar FREE when you subscribe to our Personal investing Course.

Save $468.90 If You Act Now

Subscribe to the first year of The Personal investing Course (Pi).  The annual fee is $299, but to introduce you to this online, course that is based on real time investing, I am knocking $102 off the subscription.  Plus you receive FREE the $29.95 report “Three Currency Patterns for 50% Profits or More”, the $39.95 report “Silver Dip 2019” and our latest $297 online seminar for a total savings of $468.90.

ecuador-seminar

Triple Guarantee

Enroll in Pi.  Get the basic training, the 46 market value report, access to all the updates of the past two years, the two reports and the Value Investing Seminar right away. 

#1:  I guarantee you’ll learn ideas about investing that are unique and can reduce stress as they help you enhance your profits through slow, worry free, easy diversified investing.

If you are not totally happy, simply let me know.

#2:  I guarantee you can cancel your subscription within 60 days and I’ll refund your subscription fee in full, no questions asked.

#3:  You can keep the two reports and Value Investing Seminar as my thanks for trying.

You have nothing to lose except the fear.   You gain the ultimate form of financial security as you reduce risk and increase profit potential.

Subscribe to Pi now, get the 130 page basic training, the 120 page 46 market value analysis, access to over 100 previous Pifolio updates, the “Silver Dip 2019” and “Three Currency Patterns For 50% Profits or More” reports, and value investment seminar, plus begin receiving regular Pifolio updates throughout the year.

Subscribe to a Pi annual subscription for $197 and receive all the above.

Your subscription will be charged $299 a year from now, but you can cancel at any time.

Gary

 

 

 

 

 

 

How to Really Make America Great Again


What does  it take for us to make America great again?   The answer can be summed in three words, “Change… Our… Perception”.

One of the core principles of our investing and business philosophy for almost 50 years has been to live, bank and invest where  it is best for you, not just where you were born.  This does NOT mean that where you were born and lived is not the best place to be or to invest.

This is why Merri and I are living in he USA and investing in US real estate but not US shares.   The chart below shows that the USA is a great place to be.

ecd char

OECD chart in Economist magazine (1).

However, if one listens to the various politicians stumping for office, it would seem as if the country has become a basket case.  This incorrect dialogue can throw our perspective astray, so let’s readjust our view by looking at some facts:

#1: Industrialized society has seen a six times increase in wealth in the last century.

#2:  Almost everyone is richer but most of the world has become cynical. Modern communications allows us to better see growing discrepancies between the rich and poor. Few people have confidence in governments, big business, or even some churches.

#3: This growing gap between the rich and the poor is leading to greater and greater turmoil, hatred and war.

This anger ignores the fact that we have all become better off and the USA is one of the greatest places to live.

The OECD began publishing a “Better Life Initiative” in May 2011.   The attempt is to bring together internationally comparable measures of well-being.

Well Being includes: Housing, Income, Jobs, Community, Education, Governance, Health, Life Satisfaction, Safety and Work-life balance.

The US has highest net disposable income,  household net financial wealth and personal earnings, by far.  See the latest findings as of May 2016 at the OECD website (1).   The US ranks well in almost every category.

Warren Buffett has a message about this for presidential candidates who have been spreading doom and gloom about the United States.  He says:  “America is great, and her children will inherit a better country than the previous generation. The babies being born in America today are the luckiest crop in history.”

Economic fundamentals support Buffet’s claim.

The tidal flow of economic opportunity is pushed by supply and demand.  As the global population grows, new technology allows a larger population to be increasingly productive.  Population (demand) and production (supply) grow.   These are the underlying ground swells that push a rising tide of wealth in the global economy.  We have a growing population, improved technology and increased production.  This means there are more services and products (supply) and more people to buy them (demand).

Wealth is growing around the world.  The US growth is one of the best of the developed worlds. 

The Federal Reserve Statistical Release of March 10, 2016 for the fourth quarter of 2015 shows that the net worth of households and nonprofits rose to $86.8 trillion.  The value of directly and indirectly held corporate equities increased $758 billion.  The value of real estate rose over 450 billion.

Financial Accounts of the United States Flow of Funds, Balance Sheets, and Integrated Macroeconomic Accounts: (Source Federal Reserve) (2).

Federal Reserve

There is, however, a growing inequality of wealth.   The US has one of the worst discrepancies between the top and bottom 10% of wealth.  This is good if you want to be really rich.  The US is a great place to become rich.

The difference between the rich and the poor makes many people unhappy.  We Americans need  to work on that, so it is an opportunity.

We may not personally be able to totally change all inequality, but we can help.  We can do many things to assure that we are not among the poor and to make sure that what we do also helps reduce income inequality.

This is why I named our course on value investing the Purposeful investing Course (Pi).  We need profit from our investments, but also need our investments to have a purpose that is meaningful to us as individuals.

This is also why I am not investing in US shares.  Many factors such as natural resources, efficiency, distribution of wealth and confidence cause a steady rise and fall of value of shares.

There is so much confidence in the US right now that investors pay way too much for the US shares.

This is why we need to always seek value.  The US is a great place to be but the US stock market as a whole is overvalued.

The MSCI USA Index Price to Book Value is 40% higher than the MSCI Europe Index.  The US index’s average dividend yield is 71% lower than Europe’s.

keppler chart

The best value is the Keppler Developed Markets Top Value Portfolio.  The price to book value of this portfolio is 1.27 compared to the MSCI US index of 2.81.   You can enjoy the benefits of living in the US, or wherever is best for you, but invest in stocks where they give you the best value.

Gary

(1) http://www.economist.com/blogs/graphicdetail/2012/06/daily-chart-1

(2) http://stats.oecd.org/index.aspx?DataSetCode=BLI#

(3) https://www.federalreserve.gov/releases/z1/current/z1.pdf

Investing Beyond the Boom

Warren Buffet once warned against the Cinderella effect.

He said “Don’t be fooled by that Cinderella feeling you get from great returns.  Nothing sedates rationality like large doses of effortless money.  After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball.  They know the party must end but nevertheless hate to miss a single minute of what is one helluva party.  Therefore, the giddy participants all plan to leave just seconds before midnight. There’s a problem, though: They are dancing in a room in which the clocks have no hands.”

Cinderella may have lost a shoe when she fled the party to meet a midnight curfew.  We can lose much more when we rush from a crashing stock market.

Most investors face emotional dangers that build in rising markets.

Almost everyone feels good.

But the clock of economic reckoning is ticking.

No wants to see it.  Nothing rises forever and especially… not everything at the same time.

Yet no one wants to leave the party until the end.

But many edge closer to the door.

When the clock chimes there could be a stampede even though leaving in a hurry may be the worst way to go.

Here are seven steps that can help avoid this risk.

  • Choose investments based on markets instead of shares.
  • Diversify based on value.
  • Rely on financial information rather than economic news.
  • Keep investing simple.
  • Keep investing costs low.
  • Trade as little as possible.
  • Make the decision process during panics automatic.

One strategy is to invest in country ETFs that easily provide diversified, risk-controlled investments in countries with stock markets of good value.  These ETFs provide an easy, simple and effective approach to zeroing in on value.  Little management and less guesswork is required.  The expense ratios for most ETFs are lower than those of the average mutual funds.  Plus a single country ETF provides diversification equal to investing in dozens, even hundreds of shares.

A minimum of knowledge, time, management or guesswork are required.

The importance of…

easy…

transparent…

and inexpensive. 

Keeping investing simple is one of the most valuable, but least looked at, ways to avoid disaster.  Simple and easy investing saves time.  How much is your time worth?  Simple investing costs less and avoids fast decisions during stressful times in complex situations where we are most likely to get it wrong.

Fear, regret and greed are an investor’s chief problem.  Human nature causes  investors to sell winners too soon, and hold losers too long.

Easy to use, low cost, mathematically based habits and routines help protect against negative emotions and impulse investing.

Take control of your investing.  Make decisions based on data and discipline, not gut feelings.  The Purposeful investing Course (Pi) teaches math based, low cost ways to diversify in good value markets and in ETFs  that cover these markets.  This course is based on my 50 years of investing experience combined with wisdom gained from some of the world’s best investment managers and economic mathematical scientists.

Enjoy Repeated Wealth With Pi

Pi’s mission is to make it easy for anyone to have a strategy and tactics that continually maintain safety and turn market turmoil into extra profit.

One secret is to invest with a purpose beyond the immediate returns.  This helps create faith in a strategy that adds stickiness to the plan.

Another tactic is to invest with enough staying power so you’re never caught short.

Never have to sell depressed assets during periods of loss.

Lessons from Pi are based on the creation and management of Model Portfolios, called Pifolios.

The success of Pifolios is based on ignoring economic news (often created by someone with vested interests) and using financial math that reveals deeper economic truths.

One Pifolio covers all the good value developed markets.  Another covers the emerging good value markets.

The Pifolio analysis begins with a continual research of 46 major stock markets that compares their value based on:

#1:  Current book to price

#2:  Cash flow to price

#3:  Earnings to price

#4:  Average dividend yield

#5:  Return on equity

#6:  Cash flow return.

#7:  Market history

This is a complete and continual study of almost all the developed major and emerging stock markets.

This mathematical analysis forms the basis of a Good Value Stock Market Strategy.   The analysis is rational, mathematical and does not worry about short term ups and downs.

This strategy is easy for anyone to follow and use.  Pi reveals the best value markets and provides contacts to managers and analysts and Country Index ETFs so almost anyone can create and follow their own strategy.

Learn how to invest like a pro from the inside out.

At the beginning of 2019 my personal Pifolio is based on select ETFs in the Keppler Developed and Emerging markets.  My Pifolio is invested in Country ETFs that cover seven developed and three emerging markets:

Norway
Australia
Hong Kong
Germany
Japan
Singapore
United Kingdom
Taiwan
South Korea
China

Don’t give up profit to gain ease and safety!

Regardless of economic news, these markets represent good value and have been chosen based on four pillars of valuation.

  • Absolute Valuation
  • Relative Valuation
  • Current versus Historic Valuation
  • Current Relative versus Relative Historic Valuation

When you subscribe to Pi, you immediately receive a 120 page basic training course that teaches the Pi Strategy.   You learn all the Pi strategies, what they are, how to use them and what each can do for you, your lifestyle and investing.

You also begin receiving regular emailed Pifiolio updates and online access to all the Pifolio updates of the last two years.  Each update examines the current activity in a Pifolio, how it is changing, why and how the changes might help your investing or not.

Included in the basic training is an additional 120 page PDF value analysis of 46 stock markets (23 developed markets and 23 emerging stock markets).  This analysis looks at the price to book, price to earnings, average yield and much more.

You also receive two special reports.

In the 1980s, a remarkable set of two economic circumstances helped anyone who spotted them become remarkably rich.  Some of my readers made enough to retire.  Others picked up 50% currency gains.  Then the cycle ended.  Warren Buffett explained the importance of this ending in a 1999 Fortune magazine interview.  He said:  Let me summarize what I’ve been saying about the stock market: I think it’s very hard to come up with a persuasive case that equities will over the next 17 years perform anything like—anything like—they’ve performed in the past 17!

I did well then, but always thought, “I should have invested more!”  Now those circumstances have come together and I am investing in them again.

The circumstances that created fortunes 30 years ago were an overvalued US market (compared to global markets) and an overvalued US dollar.  The two conditions are in place again!

30 years ago, the US dollar rose along with Wall Street.  Profits came quickly over three years.  Then the dollar dropped like a stone, by 51%  in just two years.  A repeat of this pattern is growing and could create up to 50% extra profit if we start using strong dollars to accumulate good value stock market ETFs in other currencies.

This is the most exciting opportunity I have seen since we started sending our reports on international investing ideas more than three decades ago.  The trends are so clear that I have created a short, but powerful report “Three Currency Patterns for 50% Profits or More.”   This report shows how to earn an extra 50% from currency shifts with even small investments.  I kept the report short and simple, but included links to 153 pages of  Good Value Stock Market research and Asset Allocation Analysis.

The report shows 20 good value investments and a really powerful tactic that shows the most effective and least expensive way to accumulate these bargains in large or even very small amounts (less than $5,000).  There is extra profit potential of at least 50% so the report is worth a lot.

This report sells for $29.95 but in this special offer, you receive the report, “Three Currency Patterns for 50% Profits or More” FREE when you subscribe to Pi.

Plus get the $39.95 report “The Silver Dip 2019” free.

With investors watching global stock markets bounce up and down, many missed two really important profit generating events over the last two years.  The price of silver dipped below $14 an ounce as did shares of the iShares Silver ETF (SLV).   The second event is that the silver gold ratio hit 80, compared to a ratio of 230 only two years before.

In September 2015, I prepared a special report “Silver Dip 2015” about a silver speculation, leveraged with a British pound loan, that could increase the returns in a safe portfolio by as much as eight times.  The tactics described in that report generated 62.48% profit in just nine months.

I have updated this report and added how to use the Silver Dip Strategy with platinum.   The “Silver Dip 2019” report shares the latest in a series of long term lessons gained through 40 years of speculating and investing in precious metals.  I released the 2015 report, when the gold silver ratio slipped to 80.  The ratio has corrected and that profit has been taken and now a new precious metals dip has emerged.

I have prepared a new special report “Silver Dip 2019” about a leveraged speculation that can increase the returns in a safe portfolio by as much as eight times.

You also learn from the Value Investing Seminar, our premier course, that we have been conducting for over 30 years.  Tens of thousands of delegates have paid up to $999 to attend.  Now you can join the seminar online FREE in this special offer.

This three day course is available in sessions that are 10 to 20 minutes long for easy, convenient learning.   You can listen to each session any time and as often as you desire.

The sooner you hear what I have to say about current markets, the better you’ll be able to cash in on perhaps the best investing opportunity since 1982.

seminars

Tens of thousands have paid up to $999 to attend.

This year I celebrated my 51st anniversary of writing about global investing.  Our reports and seminars have helped readers have better lives, with less stress yet make fortunes during up and down markets for decades.  This information is invaluable to investors large and small because even small amounts can easily be invested in the good value shares we cover in our seminar.

Stock and currency markets are cyclical.  These cycles create extra profit for value investors who invest when everyone else has the markets wrong.  One special seminar session looks at how to spot value from cycles.  Stocks rise from the cycle of war, productivity and demographics.  Cycles create recurring profits.  Economies and stock markets cycle up and down around every 15 to 20 years as shown in this graph.

stock-Charts

The effect of war cycles on the US Stock Market since 1906.

Bull and bear cycles are based on cycles of human interaction, war, technology and productivity.  Economic downturns can create war.

The chart above shows the war – stock market cycle.  Military struggles (like the Civil War, WWI, WWII and the Cold War: WW III) super charge inventiveness that creates new forms of productivity…the steam engine, the internal combustion engine,  production line processes, jet engines, TV, farming techniques, plastics, telephone, computer and lastly during the Cold War, the internet.  The military technology shifts to domestic use.  A boom is created that leads to excess.  Excess leads to correction. Correction creates an economic downturn and again to war.

Details in the online seminar include:

* How to easily buy global currencies, shares and bonds.

* Trading down and the benefits of investing in real estate in Small Town USA.  We will share why this breakout value is special and why we have been recommending good value real estate in this area since 2009.

* What’s up with gold and silver?  One session looks at my current position on gold and silver and asset protection.  We review the state of the precious metal markets and potential problems ahead for US dollars.  Learn how low interest rates eliminate  opportunity costs of diversification in precious metals and foreign currencies.

* How to improve safety and increase profit with leverage and staying power.  The seminar reveals Warren Buffett’s value investing strategy from research published at Yale University’s website.  This research shows that the stocks Buffet chooses are safe (with low beta and low volatility), cheap (value stocks with low price-to-book ratios), and high quality (stocks of companies that are profitable, stable, growing, and with high payout ratios). His big, extra profits come from leverage and staying power.  At times Buffet’s portfolio, as all value portfolios, has fallen, but he has been willing and able to wait long periods for the value to reveal itself and prices to recover.

Use time not timing.

Time is your friend when you use a good value strategy.  The longer you can hold onto a well balanced good value portfolio, the better the odds of outstanding success.

A 45 year portfolio study shows that holding a diversified good value portfolio (based on a  good value strategy) for 13 month’s time, increases the probability of out performance to 70%.  However those who can hold the portfolio for five years gain a 88% probability of beating the bellwether in the market and after ten years the probability increases to 97.5%.

Learn how much leverage to use.  Leverage is like medicine, the key is dose.  The best ratio is normally 1.6 to 1.  We’ll sum up the strategy; how to leverage cheap, safe, quality stocks and for what period of time based on the times and each individual’s circumstances.

Learn to plan in a way so you never run out of money.  The seminar also has a session on the importance of having and sticking to a plan.  See how success is dependent on conviction, wherewithal, and skill to operate with leverage and significant risk.  Learn a three point strategy based on my 50 years of investing experience combined with wisdom gained from some of the world’s best investment managers and economic mathematical scientists.

The online seminar also reveals  the results of a $80,000 share purchase cost test that found the least expensive way to invest in good value.  The keys to this portfolio are good value, low cost, minimal fuss and bother.  Plus a great savings of time.  Trading is minimal, usually not more than one or two shares are bought or sold in a year.  I wanted to find the very least expensive way to create and hold this portfolio so I performed this test.

I have good news about the cost of the seminar as well.   For almost three decades the seminar fee has been $799 for one or $999 for a couple. Tens of thousands paid this price, but online the seminar is $297.

In this special offer, you can get this online seminar FREE when you subscribe to our Personal investing Course.

Save $468.90 If You Act Now

Subscribe to the first year of The Personal investing Course (Pi).  The annual fee is $299, but to introduce you to this online, course that is based on real time investing, I am knocking $102 off the subscription.  Plus you receive FREE the $29.95 report “Three Currency Patterns for 50% Profits or More”, the $39.95 report “Silver Dip 2019” and our latest $297 online seminar for a total savings of $468.90.

ecuador-seminar

Triple Guarantee

Enroll in Pi.  Get the basic training, the 46 market value report, access to all the updates of the past two years, the two reports and the Value Investing Seminar right away. 

#1:  I guarantee you’ll learn ideas about investing that are unique and can reduce stress as they help you enhance your profits through slow, worry free, easy diversified investing.

If you are not totally happy, simply let me know.

#2:  I guarantee you can cancel your subscription within 60 days and I’ll refund your subscription fee in full, no questions asked.

#3:  You can keep the two reports and Value Investing Seminar as my thanks for trying.

You have nothing to lose except the fear.   You gain the ultimate form of financial security as you reduce risk and increase profit potential.

Subscribe to Pi now, get the 130 page basic training, the 120 page 46 market value analysis, access to over 100 previous Pifolio updates, the “Silver Dip 2019” and “Three Currency Patterns For 50% Profits or More” reports, and value investment seminar, plus begin receiving regular Pifolio updates throughout the year.

Subscribe to a Pi annual subscription for $197 and receive all the above.

Your subscription will be charged $299 a year from now, but you can cancel at any time.

Gary

 

 

 

 

 

 

Be Prepared for Pension Risk


Prepare to embrace change in pensions.

I have been warning readers about an especially severe 30 year cycle shift (and how to profit instead of lose), since  January 28, 2015.  The forces have been building and history suggests that around this time, (there are always a few years of leeway) there will be an economic and stock market correction.

Screen Shot 2016-03-18 at 8.03.29 AM

Chart from unclassified OECD report on pensions. (1)

The correction will start when some trigger kicks off a wave of panic.  We never know what the trigger will be and it usually doesn’t even matter. The trigger is just a trigger that starts corrections of distortions that have been building for three decades.

When this next distortion breaks loose, which it will, the infrastructure we take for granted will change in ways we never thought possible.  This is not bad.

One likely trigger will be changes  in pensions.

According to the Financial Times, last year,  Angel Gurría, the OECD’s secretary-general, said: “Pension funds and life insurers are feeling the pressure to chase yield . . . and to pursue higher-risk investment strategies that could ultimately undermine their solvency.  Low interest rates have also caused problems for such funds because bond yields are used to calculate the value of their liabilities. When yields fall, the estimated value of their future liabilities increases. (2)

Detroit’s 2013 bankruptcy reminded investors that government’s local, state, national and international owe billions more than anyone knows, trillions actually.

This is a global problem as recent research by Citigroup found that governments across the developed world have promised much more than they can to current and future retirees.

This threatens the value of government bonds and the entire global economy.

Twenty countries of the OECD (the Organization for Economic Cooperation and Development is an international economic organization of 34 countries, founded to stimulate economic progress and world trade, democracy and market economies) have promised their retirees a total $78 trillion.  Much of this promise is unfunded.

That is almost double the $44 trillion total national debt of those 20 countries. These pension  obligations do not show up as obligations on government balance sheets.

The total global government debt may be three times larger than revealed. Numerous countries have promised more than they can deliver.  The real figures remain obscured because governments fear a decline in their credit rating which will increase the gap.

Many economists believe this will lead to a total collapse in society.

More likely than a sudden head-on collisions between bondholders and pensioners, there will be trading down.   National governments, states, provinces, counties, cities, school districts and other organizations cut services, raise taxes and pay pensions that have less purchasing power.

A New York Times article outlines how Citigroup used demographics to calculate the global buildup of overwhelming invisible pension obligations. (3)

There was a golden era after World War II.  A growth spurt promised the world to a young and growing population. This aging population is now stressing pension systems that have limited or no funding.

Aging populations mean that retirement systems no longer work.  There are not enough younger workers to support the retired.

This a global dilemma.  China now has seven workers to support every retiree. This number will fall to two workers per retiree over the next 30 years or so.  Japan will have even less, around one worker per retiree.

Some other seasoned investment publishers (whom I have worked with for over 30 years) tout the idea that all of our systems will be tightly controlled or closed: our bank accounts, credit cards, wire transfers, ATMs, even the internet could shut down.

These publishers say that stock markets will crash wildly out of control. They suggest that Social Security checks will be at risk. Gas stations will be shut but there won’t be much reason to drive anyway.  Everything we use on a daily basis will be hit.  A food supply shutdown will create shortages and closings of super markets and restaurants.

They also know that fear sells subscriptions.

However, I believe that the correction will be softer.  We’ll see many suffer a growing inequality of purchasing power instead of a complete and sudden shutdown.

There will still be money, still be gas (or some better form of energy), still be banks, still be food in the stores.  The quality could be lower and many won’t be able to buy as much.

On the other hand those who embrace the change will see much greater wealth and a happier richer healthier lifestyle.

This gradual loss of purchasing power means we still have time if we act, now.

There are some events we cannot predict or prepare for. Who saw the internet coming for example?  There is always something we don’t know so we often think in faulty ways by adding up everything that could go wrong without adding in the new technologies that can change everything.

This gives us a backwards looking view and leaves us unprepared to cash in on the next new thing.

I choose to spend my time making myself better and investing in value rather than worrying about a future that definitely will be different than imagined.

Gary

Join Merri, David and me over the next year to create a plan that benefits from change.

(1)  http://www.oecd.org unclassified official documents

(2) www.ft.co OECD Pensions

(3) www.nytimes.com 2016 study-finds-public-pension-promises-exceed-ability-to-pay

Make Safe More Profitable With the Silver Dip

May 2017 will be my 51st anniversary of being in the investment & finance business.  This is the 49th year since I started talking about international investing, (I started a Hong Kong mutual fund business in May 1968).

Since that time, my investing goals have been based around spotting contrasts and trends.

One current trend is that the valuations of US shares are dramatically overpriced  in every fundamental way.   The Morgan Stanley MSCI Index USA currently sells for 2.81 times book value, compared to the MSCI Europe Index that sells for 1.68 times book value.   The US PE Ratio is 21.2 versus 18.2 in Europe and the average US dividend yield is 2.15% versus 3.69% in Europe.  Shares in Europe on average are a far a better value.

When you use a long time dimension and diversify correctly, investing in value such as this has always created the highest profits and greatest safety.

I use this strategy because using a value strategy also takes the least work and has the lowest stress!

Then I look for ways to add spice and extra profit short term distortions.

For example in 2015 I spotted two distortions.  They were contrasts that  had reaped huge rewards for me and many of my readers 30 years ago.  I quickly issued two reports, one for each trend.  After a  year one of the distortions has already returned 210.58% in the last year.

A new contrast has even more potential in 2017.

One of the reports released, “Silver Dip 2015” looked at potential profits in silver because when the US stock market falls, the price of gold and silver rise.  I have been a gold bug for almost 50 years and spotted this fact long ago.

The “Silver Dip 2016” report reviewed a way to profit from silver and gold because of a mathematical, historical fact.  When the silver/gold ratio rises over 80, silver is more likely to rise than gold.  That ratio is even higher now than it was in 2015 so silver may not create the extraordinary profits this year.

The “Silver Dip 2017” offers a new ideal speculation.

The second distortion, explained below, has greater long term potential and all but guarantees short term profits in gold, silver and the currenct hot speculation.

There is no question that a long term correction is coming.  Only the full timing can be in doubt.  The question we must ask is, “Could the big break come in 2017 and could it break upon us right now?”  The answer is “Yes”.  When the bubble bursts, it can cause the perfect economic storm that makes a few investors, who are ready, rich.

I have been warning readers about this stock market correction (and how to profit instead of lose), since  January 28, 2015.

Zero interest is the sucker punch that can devastate millions of investors.  This is a Ponzi scheme where governments rob money from the future and spend it badly in the here and now.  Each downward economic wave of the last 30 years has created a larger mountain of debt that brings the world closer to an economy where there is no more future money to steal.  The only way governments can afford to borrow more is to take it for nothing.  That’s zero interest.  In worst case scenarios, governments can charge you to borrow your own money.  In Europe some bonds now have negative interest.

shouldn’t pay us anything.  Even worse they could charge a negative interest rate on our bank accounts and lock our money into the system.  The alternative is to invest in a risky, over priced stock market and morbidly weak currency.

Over priced stocks and an over priced US dollar are the third sucker punch!

To date we have been able at least to choose where and in what currencies we invest.  This is where we encounter the one-two-three punch.  The zero or negative interest rate destroys the purchasing power of our savings.  Capital controls lock us into a weak currency or market so we cannot take profits or protect our purchasing power from this inflation and currency loss.

Our savings, pensions and wealth can be floored by a combination of a falling stock market, crashing US dollar and inflation.

The purchasing power of the US dollar will fall.   Trading down is working in many ways.  Even if  pensions can pay what they have promised, the money in dollars won’t buy as much.  Coffee isn’t free with meals.  Many ordinary foods (tomatoes, peppers, almonds and walnuts as an example) and yes, maple syrup become luxuries.

Social Security won’t be as useful either, if it is paid at all.  Could Social Security really default?  The answer is “Yes, it could”.  An October 8, 2013 Reuters article at finance.yahoo said:  “President Barack Obama warned last week that Social Security benefits might not go out ‘on time’ if Congress does not raise the debt ceiling.  Should seniors and disabled Americans really be worried about their benefits if the U.S. government runs out of borrowing capacity later this month?  The answer is YES.”

I can make these predictions based on 30 year trends because I have been writing and teaching global investing for almost 50 years.  Long term experience helps me spot distortions and cycles that have been building for even as long as 30 years.   This experience has helped me steer my readers in the right direction again and again.

I invite you to join me and a small selective group who for the next year will participate in an intensive program called the Purposeful investing Course (Pi). The purpose of Pi is finding value to protect our savings, pensions, income and wealth from these two devastating economic conditions.

I’ve been watching this 30 year distortion take shape and believe that 2017 could very well be the year of a huge shift.

Slow, Worry Free, Good Value Investing

Stress, worry and fear are three of an investor’s worst enemies.  They create a Behavior Gap, that causes investors to underperform in any market good or bad.  The behavior gap is created by natural human responses to fear.   Pi helps create profitable strategies that avoid losses from this gap.

Lessons from Pi are based on the creation and management of a Primary Pi Model Portfolio, called the Pifolio.  There are no secrets about this portfolio except that it ignores the stories from economic news (often created by someone with vested interests) and is based mainly on good math that reveals the truth through financial news.

The Pifolio is a theoretical portfolio of MSCI Country Benchmark Index ETFs that cover all the good value markets using my (almost) 50 years of global experience and my study of the analysis of four mathematical investing geniuses (and friends).

The Pifolio analysis begins with a continual research of international major stock markets that compares their value based on:

#1:  Current book to price

#2:  Cash flow to price

#3:  Earnings to price

#4:  Average dividend yield

#5:  Return on equity

#6:  Cash flow return

#7:  Market history

We combine the research of several brilliant mathematicians and money managers with my years of investing experience.

This is a complete and continual study of what to do about the movement of international major and emerging stock markets.  I want to share this study throughout 2017 into 2018 with you.

This analysis forms the basis of a Good Value Stock Market Strategy.  The analysis is rational, mathematical and does not worry about short term ups and downs.  This strategy is easy for anyone to follow and use.  Pi reveals the best value markets and provides contacts to managers and analysts and Country Index ETFs so almost anyone can create and follow their own strategy.

A country ETF provides diversification and cost efficiency by spreading one simple, even small investment into a basket of equities in a good value stock market.  The costs are low and this type of ETF is one of the hardest for institutions to cheat.  Expense ratios for most ETFs are lower than those of the average mutual fund.

Little knowledge, time, management or guesswork are required.  The investment is simply a diversified portfolio of good value indices.  Investments in an index are like investments in all the shares of a good value market.

Pi opens insights to numerous long term cycles that most investors miss because they have not been investing long enough to see them.

For example, in the 1980s, a remarkable set of two economic circumstances helped anyone who spotted them become remarkably rich.  Some of my readers made enough to retire.  Others picked up 50% currency gains.  Then the cycle ended.  Warren Buffett explained the importance of this ending in a 1999 Fortune magazine interview.  He said:  Let me summarize what I’ve been saying about the stock market: I think it’s very hard to come up with a persuasive case that equities will over the next 17 years perform anything like—anything like—they’ve performed in the past 17!

I did well then, but always thought, “I should have invested more!”  Now those circumstances have come together and I am investing in them again.

The circumstances that created fortunes 30 years ago were an overvalued US market (compared to global markets) and an overvalued US dollar.  The two conditions are in place again!   There are currently ten good value (non US) developed markets,  plus 10 good value emerging markets.

Pi shows how to easily create a diversified, worry free portfolio in some of these good value markets using Country Index ETFs.

The current strength of the US dollar is a second remarkable similarity to 30 years ago.   The dollar rose along with Wall Street.  Profits came quickly over three years.  Then the dollar dropped like a stone, by 51%  in just two years.  A repeat of this pattern is growing and could create up to 50% extra profit if we start using strong dollars to accumulate good value stock market ETFs in other currencies.

This is the most exciting opportunity I have seen since we started sending our reports on international investing ideas more than three decades ago.  The trends are so clear that I have created a short, but powerful report “Three Currency Patterns for 50% Profits or More.”   This report shows how to earn an extra 50% from currency shifts with even small investments.  I kept the report short and simple, but included links to 153 pages of  Good Value Stock Market research and Asset Allocation Analysis.

The report shows 20 good value investments and a really powerful tactic that shows the most effective and least expensive way to accumulate these bargains in large or even very small amounts (less than $5,000).  There is extra profit potential of at least 50% so the report is worth a lot.

This report sells for $29.95 but you’ll receive the report, “Three Currency Patterns For 50% Profits or More” FREE when you subscribe to Pi.

Plus get the $39.95 report, “The Silver Dip 2017” free.

With investors watching global stock markets bounce up and down, many missed two really important profit generating events.  The price of silver dipped below $14 an ounce as did shares of the iShares Silver ETF (SLV).   The second event is that the silver gold ratio hit 80 and has remained near this level.

These two events are a strong sign to invest in precious metals.

I updated the special report now “Silver Dip 2017” about a leveraged speculation that can increase the returns in a safe portfolio by as much as eight times.  The purpose of the report is to share my 30 years of experience speculating and investing in gold and silver.

The low price of one commodity offers special value now so I want to send you this report because the “Silver Dip 2017” reveals how to gain enormous profit potential in the year ahead.

Save $428.95 If You Act Now

Subscribe to the first year of the Personal investing Course (Pi).  The annual fee is $299, but to introduce you to this online course that is based on real time investing, I am knocking $102 off the subscription.  Plus you receive FREE the $29.95 report “Three Currency Patterns For 50% Profits or More”, the $27  report “Silver Dip 2015” and our latest $297 online Value Investing Seminar for a total savings of $428.95.

Triple Guarantee

Enroll in Pi.  Get the first monthly issue of Pi and the report “Three Currency Patterns For 50% Profits or More” and the online Value Investing Seminar right away. 

#1:  I guarantee you’ll learn ideas about investing that are unique and can reduce stress as they help you enhance your profits through slow, worry free purposeful investing.

If you are not totally happy, simply let me know.

#2:  I guarantee you can cancel your subscription within 60 days and I’ll refund your subscription fee in full, no questions asked.

#3:  I guarantee you can keep “Three Currency Patterns for 50% Profits or More” and “Silver Dip 2015” plus the Value Investing Seminar as my thanks for trying.

You have nothing to lose except the fear.   You gain the ultimate form of financial security as you reduce risk and increase profit potential.

Subscribe to a Pi annual subscription for $197 and receive all the above.

Gary