Last week, on the 26th, the County conducted an Investment Committee meeting. This is where they superficially go over where the county stands income and debt wise.
I was surprised it was just me and a few others in attendance. The County had plenty of people there, including the usual suspects. For under an hour, the retained County’s Financial Group, called FHN, did a very superficial presentation (see attached).
They pretty much blamed the FED and the economy for the loss of over 41 million dollars over the last year!
The first rule of investing is: don’t lose money. The second rule is: see rule #1.
People who lose money love to call it unrealized losses, but that’s just wordplay for losses. If you paid $1 for a baseball card and now it’s worth 50 cents, you’re down 50 cents or 50%. They say because you didn’t sell it, you didn’t lose it… see the word games? Any experienced trader knows that if you’re down 50%, you’re down 50%, period. You realize the loss when you sell, sure, but it’s still at a loss the whole time. Holding on to a loss long enough, they hope, will then go back to a positive or break even. That seldom works when you’ve invested in crap.
Regardless, just listen to my 5-minute video here. It’s my 2 public comments, one at the start of the meeting and the second towards the end of the meeting. It does far more justice than I can do by typing it all out for you.
I simply want you to hear what I say, then watch what they do. Does this look like a county that has gone completely rogue, or does it look like a county that cares about its people and their money?
In addition, people like Alexis Hill and Eric Brown running this committee—what in the world makes them qualified? Have you looked at their resumes? I have, and I wouldn’t trust them to run a lemonade stand, so why in the world are they overseeing billions of our dollars?
Watch the videos here:
You make up your mind as to whether we need a major intervention ASAP.
BTW my offer still stands, I’m happy to take over the county investment for free and ensure the county is ALWAYS making money. Or, I’m happy to introduce a global firm that will guarantee annual profits. Who would be against that?