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Book Review: 12 takeaways from Michael Cohen’s Trump book, Disloyal

There are of course a glut of books about Donald Trump, especially now we’re fewer than two months away from the U.S. election. We have previously looked at several of these from an investment point of view, and most recently Mary Trump’s book, Too Much and Never Enough.

On the weekend I read Michael Cohen’s Disloyal, which — like Mary Trump’s book — provides the kind of insider perspective that outsider journalists and authors can’t quite match. Cohen spent a decade as Donald Trump’s personal lawyer and “fixer” and as he says in the book, “I know where the skeletons are buried, because I helped bury them.”

In its review this week, the Washington Post is a bit harsh on Cohen but I found the book to be among the most insightful I have read about Trump: certainly more enlightening than John Bolton’s snoozer, or some of the early journalistic books like Michael Wolff’s Fire & Fury.

Below are a dozen takeaways that provide either insights not before quite articulated, or which seem to bear repeating. While much of what follows may be known or hinted at it in earlier books and journalistic investigations, Cohen wraps it all up with his ten years of close observance of Trump as he evolved from real estate hustler to Reality Show “star” and now his turn as the Reality TV president.

Clearly, Cohen views Trump as a purely transactional beast who cares little for anything but his own hide and possibly his close family members. He doesn’t come out and say it explicitly but my own view of Trump is that he epitomizes the single-minded pursuit of the four goals cherished by many in this secular society: Money, Power, Sex and Fame. And give him credit for this if nothing else: he certainly has attained copious quantities of all four.

1.) Motivation to run in the first place was as a “lark and a PR stunt.”

Trump, largely at Cohen’s instigation, initially decided to run for president because “it would be cool” and as “a lark and a P.R. stunt.” Or as Cohen has famously said, the presidency would prove to be “the greatest infomercial in the history of politics.” Not exactly noble motivations and there’s not a hint of even pretending it was ever about “public service.” Even if Trump’s team thinks he deserves the Noble Prize (which his team infamously misspelled the other day, when the correct spelling of course is “Nobel,” after Alfred Nobel.)

2.) What’s with the Putin obsession?

Trump’s fascination for Russia’s Vladimir Putin is based on his perception that Putin is also the richest man in the world, and therefore hugely influential. He also serves as a model for the “dictator for life” aspiration Trump clearly harbours. And, Cohen insists that should he lose the November election, he will try to find a way not to leave.

3.) “a cheat, a liar, a fraud, a bully, a racist, a predator, a con man.”   

No surprise here on this list of character traits. From page 15 of the e-book I read on SCRIBD:

“…. I bore witness to the real man, in strip clubs, shady business meetings, and in the unguarded moments when he revealed who he really was: a cheat, a liar, a fraud, a bully, a racist, a predator, a con man.”

It’s been previously reported how Trump has repeatedly stiffed contractors but Cohen cites several particular examples, including even those that backfired: like when he tried to welch on one of those famous $130,000 porn star payoffs covered by the tabloid National Enquirer.

4.) Pathological lying and baseless smears

The dirty tricks and pathological lying will continue. Cohen nicely recaps how the birtherism lie about Barack Obama originated, which first propelled Trump to media prominence. Similarly, he recaps the shameful smears that let Trump eliminate his Republican rivals in 2015-2016, ending with the smear about Ted Cruz’s father’s alleged (and ridiculous) role in the assassination of JFK.

5.) Sexual allegations

There’s plenty of salacious material about Trump’s sexual predator inclinations, both as the owner of beauty pageants and various ogling incidents, including ones about Cohen’s own daughter on a tennis court. That same daughter declared soon after Trump’s run was announced that he “wasn’t qualified” to become president. Out of the mouths of babes …. Continue Reading…

8 financial benefits employers can use to attract good employees

 

In today’s environment, great candidates are not just looking for a competitive salary. They want great benefits as well! With many companies offering unique perks like extended vacation days or flex time, it is important that you bring something to the table that stands out. Financial benefits are a great way to do just that! 

By rewarding employees with more than just disposable income, you are creating new opportunities for things that they find rewarding. To get a better understanding of how different companies implement financial benefits, we chatted with eight business leaders about their approaches. Check out their ideas below!

Signing Bonus

While offering a signing bonus isn’t a necessity, employees greatly appreciate it. This could give your new employee some extra cash to compensate for moving or for making up for the time in between jobs. It is a great way to say “welcome to the team!”  — Pete Newstrom, Arrowlift

Pension Matching 

To attract good employees, it is necessary to offer something competitive that other companies might not offer. Matching your employee’s 401(k) contributions up to a certain percentage is a great way to let the people that work for you know that you care about their future. — Chris Dunkin, Portable Air  Continue Reading…

Big Data & AI: What’s the Connection?

By Lachlan Malone

Special to the Financial Independence Hub

Big Data and AI are buzzing technologies that are gaining traction by the day due to their potential to revolutionize their respective fields completely. Aside from the promise they show by themselves, their combination might revolutionize the world as we know it.

Data has played a critical role in marketing, analysis, and corporate endeavors. With the addition of AI, those fields will change for the better in a multitude of ways.

In this article, we’ll explore everything there is to know about these two technologies and how their merger could change the virtual landscape as we know it.

What are Big Data and AI?

Big data and AI are two different technologies. What ties them together is the popularity and traction they’ve garnered in recent years. Both technologies are relatively young and still have many evolutions to undergo before they’re fully implemented.

Big Data

Big data is a data field that promises to analyze, refine, and assess vast amounts of otherwise too complex data for conventional means. This technology could revolutionize how we deal with data and significantly impact the corporate world.

Big data is the next logical step in the data world and promises to solve current stump traditional data processing software issues. It can do this through advanced data processing, which is often assisted by some form of AI.

AI

AI stands for artificial intelligence, a software program that mimics human and animal intelligence. Chatbots, problem-solving software and other machines capable of learning are all considered AI. AI is one of the most promising technologies of the 21 countries and has many potential implementations.

Since it’s one of the most popular technologies, investments and improvements are being made daily. This cognitive technology could change the way we live by a considerable margin.

How are Big Data and AI connected?

While both are popular technologies that show promise to change the world as we know it, as of now, there is minimal connection between them. The relationship between AI and Big Data could significantly augment the desirable features of both.

The implementation of this connection is usually seen in data refinement software. Data, in its initial form, is known as raw data and is virtually useless. It requires extensive refinement to become a usable piece of data, and that’s where AI steps in.

Since AI is a cognitive mimicking technology, it could significantly augment the quality of the refined data. Data refinement becomes seamless through AI, making things like business analytics simple, quick, and efficient.

AI works well with big data since AI machine learning and deep learning technologies are getting more sophisticated by the day – it’s hard to predict what the future could hold for this technology.

What does this combination provide?

This combination works well to bring both technologies to new horizons. Machine learning isn’t a simple or automatic process, as it requires vast amounts of data. Huge amounts of data need a lot of processing power and cognitive problem-solving capabilities to undergo refinement. Through this merger, the two technologies complement each other.

Most business, marketing, and analysis landscapes undergo fundamental changes in operation, sophistication, and complexity through their mutual evolution.

Below, we’ll list four ways that this combination promises to revolutionize the world, and how it’s doing so: Continue Reading…

Q&A: The case for Gold

By Michael Kovacs

(Sponsor Content)

The case for gold is still strong.

Gold has had a record run this year with the price passing through US $2,000 per ounce. That has pushed the S&P TSX Global Gold Index is up 48.98% [1], year-to-date, making it a top performing group on the Toronto Stock Exchange. By comparison, the S&P/TSX composite index was down 2.68%.

Gold’s resurgence after a nine-year bear market began early last year. Rising uncertainty about the staying power of the global recovery combined with interest rate reductions led to concerns about a weakening US dollar and a resurgence of inflation.

The impact of the Covid-19 pandemic has accelerated these trends. Global growth has fallen sharply and central banks have undertaken even more aggressive interest rate cuts to stimulate growth. The yields on bonds have fallen with some sovereign issues now in negative territory. The US dollar, which is used to price gold, has also declined against a basket of currencies.

Harvest Portfolios Group launched the Harvest Global Gold Giants Index ETF (TSX: HGGG) in January, 2019 to position itself to take advantage of a rebound in gold’s fortunes. The strategy behind HGGG could not have foreseen the pandemic, but the ETF’s performance has proved it is well positioned to thrive with this added challenge.

In a Q&A, Harvest President and CEO Michael Kovacs [MK below] revisits the blueprint underpinning the ETF and explains why the outlook for gold continues to be positive. He also discusses how the ETF aligns with the core Harvest philosophy of owning strong businesses.

Financial Independence Hub: Did you expect gold to be this strong in 2020?

MK:  We were looking at a weakening economic cycle, but we could not have anticipated the pandemic; what happened this year is beyond anyone’s imagination.

We launched the ETF as a defensive investment because the economic cycle was pretty long in the tooth. We were not gold bugs, but had watched the market for some time, especially gold company shares.

How do you see the outlook for gold?

Gold may have got a bit over-priced in the short term, but over the next 12-to-18 months it should touch U.S. $3,000 an ounce, which is 50% higher than it is now. Why? The pandemic has created a whole new ballgame.

It ties into the massive amounts of stimulus injected into the global economy by governments and central banks.  As a result of the pandemic, governments are budgeting with wartime percentages of debt. These levels will devalue currencies and could bring back inflationary pressures. That’s good for gold.

Warren Buffett recently bought his first gold holding, a stake in American Barrick. What does that say?

It was an unusual move considering that Buffett is a long-time value investor with a dislike for gold. He prefers assets that have cash flows or pay dividends. But he didn’t buy bullion, he bought the second most valuable gold company in the world, a great gold producer with great assets. It has a growing cash flow and pays a dividend. So, it’s a logical place for Berkshire Hathaway to diversify.

How will the Harvest Global Gold Giants Index ETF benefit from these trends?

When we launched the ETF, gold had been in a bear market for eight years. The industry had consolidated, share prices were low and we saw considerable value. At that point, average production costs for the model portfolio were U.S. $800 per ounce and most of the target companies were cash flow positive. We believed that if gold rose there would be a lot of upside potential. That is what has happened and will continue if gold prices rise. Continue Reading…

The Ups and Downs of passing your Home down to Family

By Holly Welles

Special to the Financial Independence Hub

You’ve recently encountered an important decision. Should you pass down your home to your family? Many people make this choice before weighing a few pros and cons. It’s essential to examine this situation from every angle. Otherwise, you may create an unnecessary and unwelcome problem for you and your loved ones.

Here’s a look at whether you should pass down your property:

1. )You could redistribute your Wealth

Here’s a central reason why individuals decide to pursue this process. While houses themselves don’t always appreciate, your land has likely accrued value over time: and your family can benefit as a result. That occurs because land as a commodity isn’t readily available. Many homeowners don’t own any assets more expensive than their houses. You can ensure your family gains more wealth by giving them your residence.

They’ll likely thrive financially if they take specific actions. For instance, they could sell your home to create a monetary cushion. They may even want to move from their current residence to reduce their expenses. In some cases, it’s smart to pass down your house so you can assist them in managing finances.

2.) You may cause issues between Heirs

It’s not guaranteed whether your heirs will find a way to manage this transaction. Various concerns may arise between them. It could create jealousy if you trust your home to one sibling or child. But if you divide your home amongst multiple heirs, disagreements over ownership can still happen. You may cause more problems than you originally anticipated.

You’ll also want to consider what may occur if you’re alive while this process takes place. You may have to face a few different scenarios that create difficulties for you personally. Make sure to choose a method that protects you. It’s always best to think about your interests, too. If you move forward with this transaction, take steps to resolve issues that may occur after you pass.

3.) You can downsize to a smaller place

As you age, it’s often harder to care for a large home. That’s why many older adults tend to downsize into a rental community. They don’t have to deal with the costly maintenance that tends to come with more expansive space. It may also be a more immediate experience for some families:  if you have unexpected health issues that don’t allow you to climb steps, it’s likely time to find a home without an upstairs level. Continue Reading…