It’s a talking point I trumpet often with my clients. Your money is yours and you must know what you are doing with it and where it comes from. Somebody apparently forgot to share the message with Brett Favre.  He will now return 1.1 million dollars to the U.S. welfare system for money received for speeches that he did not give.

Investment advisors have been wrong often. Bankers are not investment professionals and typically don’t deploy investment analytics as they should in recommending investments. Nor, do they necessarily have a feel for the economic pulse.  Yes, they did not anticipate a “Black Swan” event in the context of a risky political environment. Portfolios have lost money and investors are assuaged with the mantra that they are in for the long term. 

It may be unfathomable to you that somebody can receive 1.1 million dollars and not know that it hit their account. I can actually believe it when the numbers get big and individuals don’t have the right financial professionals in place to question financial transactions. In fact, the accounting profession had lost its way ten years ago in the context of derivative books getting out of control while off balance sheet obligations went unscrutinized. When internal controls get loose during times such as these, temptations of the morally weak are incited. The environment right now is really interesting and I’m paying special attention. Governments are spending money like drunken sailors. The U.S. federal government just fired a watch dog responsible for overseeing disbursements from the federal treasury in the context of pandemic relief. There’s never been a more acute time in your living history to be educated in finance.