There's a problem with the election and it's not just about you, it's me too. Our conversation today highlights how U.S. political party priorities have evolved with shifts in censorship power dynamics now seen in tech and government interactions. Voter turnout patterns by state reveal high engagement in blue states, sparking a discussion on potential impacts and a reflection on whether blockchain could offer fairer and more secure elections. Today we discuss...
- Most recent information is likely to be unreliable, especially with the election looming.
- Historical context regarding political party evolution highlights significant shifts in the Democratic and Republican parties over the years.
- The potential for implementing blockchain technology in voting is suggested as a way to enhance transparency and prevent voting irregularities.
- When investing in the market, your biases—whether bullish or bearish—can distort your perception of reality.
- Confirmation bias leads investors to seek information that supports their beliefs while ignoring opposing viewpoints.
- Historical examples highlight how both individuals and groups can rationalize harmful choices based on their biases.
- Recent trends show a belief that investing solely in the S&P 500 or real estate is the only way to achieve financial success, neglecting historical performance data.
- Many investors, including Warren Buffett, are reevaluating their holdings based on new data, which suggests current market valuations may be overly optimistic.
- Historical performance metrics show that various asset classes, including gold and emerging markets, may outperform current popular investments.
- A shareholder proposal suggests Microsoft should consider holding Bitcoin instead of cash, reflecting a shift towards cryptocurrency among corporations.
- Leveraging Bitcoin or any asset carries significant risks, particularly if market conditions change abruptly.
- Despite increasing investments in Bitcoin, its price has remained relatively stable, indicating complex market dynamics.
"Cash is not trash... Cash is King" - Kirk Chisholm
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Today's Guest: Kirk Chisholm
Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group, an independent Registered Investment Advisor located in Lexington, MA. He has been providing wealth management services to individuals, executives, entrepreneurs, and their families since 1999. He is an outside the box thinker, risk manager, inflation expert, blogger, podcaster, and all-around interesting guy. Kirk is dedicated to developing lasting relationships with all of his clients and their families. One of the benefits of working with Kirk is his patience, empathy, and his ability to provide clear and easy-to-understand explanations to complex financial topics.
Kirk developed a unique philosophy for the wealth management industry called Risk Management First. The medical field has a similar way of thinking of “first do no harm”. This philosophy focuses on risk management for clients in all aspects of their lives in ways the industry does not address. Risk management does not stop with investments. It also requires working closely with other professionals to address areas of their financial lives not currently being met.
In 2008, Kirk co-founded Innovative Advisory Group to address the needs not being addressed by the wealth management industry. It started with specializing in alternative assets held in retirement accounts (i.e. self directed IRAs/401ks). Then the company expanded into the specialization of college funding (i.e. planning, strategy, and paying the least possible for a high quality education), Risk Management First, exit planning for business owners, advanced planning (estate, tax, etc), and providing practice management and leadership training to other financial advisors, accountants and attorneys.
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Today's Panelists
- Kirk Chisholm | Innovative Wealth
- Douglas Heagren | Pro College Planners