I am retired and take educated guesses on all things financial.

July 17, 2007

July 18, 2007: Hedge Fund book and philanthropy, why not?

Tim Sykes was kind enough to send me a preview copy of his forthcoming book to review.

Mr.Sykes is a diligent and highly motivated young investor (to me, at least - anybody under age thirty is fresh out of diapers) who has built a rock solid credentials. His book in draft form deals with the art of day to day theory, practice and emotions making successful bets on securities and then crafting a hedge fund. I am about 2/3 of the way through his effort, and I am enjoying it very much for a variety of reasons. That's all I'll say about it for now, but when it is released,I recommend you buy it and enjoy the read.I believe that Mr. Sykes will be heard from with a progressively louder and influential voice in our investment world.
He has ENERGY.

Philanthropy: 1. good will toward all people; esp: effort to promote human welfare 2. a charitable act or gift; also; an organization that distributes or is supported by donated funds. -- The Merriam-Webster Dictionary

Many of the large philanthrophic organizations have turned into far left shills for pin-head socialists who in the final analysis only seek to create power for themselves and their ilk. I find this perverse.

At present, there are over 65,000 foundations controlling over $40 billion in assets. I suspect that many of the idle rich contribute to foundations not even knowing how, what or why their money is spent. My wife and I exclude all foundations, including the United Way, from our philanthrophic giving. However, it does not prevent my wife and I doing what can be described as philanthropic work on several planes.

We give monies to Catholic Charities, Right to Life, the Salvation Army and several other charities that support people without overhead or a far left agenda.

My wife volunteers one day per week in the Emergency Room at our local hospital.
She is the Music Director at our church (with a master's degree in pipe organ) and coaches soccer. She also gives blood regularly for the Red Cross. None of these philanthrophic activities involves giving money.

I volunteer assisting inner city residents who are victims of predatory lending, volunteer as a credit counselor and assist in counseling welfare recipients in a work to financial independence and self-respect program. Again, none of these philanthrophoic activities involves giving money.

This is not to brag, and not to head slap you to tithe 15%. It is to encourage everyone to do something to help causes held dear to you.

As many of us will eventually HAVE to take some profits from what has been a wonderful bull market, I hope that you consider selective philantrophic efforts that fit your hope for humanity with some monies. And take some time out of your one and only life here in planet earth to better the lives of others.

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