Connecting Dots

Fixed Cost Financial's Chief Technology Officer Paul Grant Truesdell, II reviews a range of internet security issues and why a password manager is an essential tool for everyone.

Show Notes

Security Newsletter

Security Newsletter: Issue 125

1Password

Youtube: 1Password - No More Sticky Notes

Lastpass

Dashlane

Enpass

Facebook apps logged users’ passwords in plaintext

Facebook, on Mueller Day, drops bad Instagram news in a month-old blog post

Yahoo! data breaches

Wikipedia: Data breach

Life is Learning

Learning to learn is one of the most important things a person can do in life. Teaching the ability to learn coupled with a growth mindset with persistence is required to accomplish great things. Blaming others when it's the one in the mirror who is at fault. You can do this, you really can.

When I began in the investment advisory business in 1986, we were expected to wear a suit. The same was true of the police department where I had worked previously, but a jacket and slacks were more common. Those who wore a jacket and pants at the advisory firm, however, were pushing it. I didn't push it, and thus I've always had two dozen suits of various weights for northern cold and Florida damp climates. The dress code was traditional but not as rigid as that of the 1960s, what some would call the Mad Man era. In the 60s, my father had several basic black and blue suits, many white and a couple of blue shirts, and many black and medium blue and red ties. All of his shirts were pressed, folded, and in thin plastic bags. Shoes were always black wingtips. The only flare was a white pocket stuffer, that was firmly held in place and presented a straight white line across the left breast.

Then the late 60s came along, and someone higher up said the company had lost its way by not keeping up. Leisure suits were expected to be purchased and worn. Younger customers expected a hip executive and the world was changing. My father struggled with the change, and didn’t like it.

I have a picture of friends and me from the 80s when the television show Miami Vice was popular. It’s a polaroid of four people about to go out for the evening, and it’s one of those that today brings out the comment, “what were we thinking?”

In March of 2019, Goldman Sachs announced that suits and ties were now optional. I found this announcement unimaginable as I know of several men who were dismissed for violating the dress code. In one case, while at lunch at a small diner in New York City, two traders took their jackets off as the air conditioning was broken and the jammed pack diner was extremely hot. A partner at the firm spotted the two, and upon their return, they were greeted at the receptionist desk with a security guard and a box for each containing their belongings. They were terminated and walked out the door. While jackets could be removed while working as a trader, a golden boy was never to be seen outside without their monk-like bespoke suit, shoes, and tie. I understand what some will go through with the new flexible dress code that favors a more casual environment.

The polished and pressed suited employee looks to be a thing of the past, at least for the next few years. This signals the firm grasp of a widespread change in workplaces across America. Although dress codes have relaxed, they are now more complex than ever, and I’ve dealt with the problem for decades. When it comes to administrative staff, I’ve resorted to a uniform shirt and solid color matching slacks at times. Why? Because I’ve had people at times who abused the flexibility and pushed the limits. I feel that there is always a need for a sense of uniformity and professionalism, no matter the level of formality, at all places of work. From the coffee shop to the bank, I sense there will be a growing trend towards corporate slacks and shirts. And it’s not like I’ve not seen this trend for years. While attending Network After Work events, I rarely see a man in a suit and tie, but the corporate polo is typical.

Clothing, coupled with demeanor, are outward expressions of self, beliefs, and lifestyle, and people today definitely resist regulation; unless you wear a red MAGA ball cap, and then for some you’re a punching bag.

When setting a dress code, it's essential to think about who you are, the circumstances, and the image you want to put forward. If a lawyer shows up for court in jeans and a T-shirt, there’s going to be a problem, but for the same lawyer attending a creative meeting for a startup, some may be fine with it, others not.

In today’s Connecting Dots podcast, I will discuss the opportunities for those who have mastered the art of adapting to the situation when both in and out of the office and how much of what many are struggling with is not new, just different as times change.

Connecting Dots Episode Page

Twitter - Bogus Advice

AUM = Commissions, Excessive Investment Allocation

Liquidity

Business Cards, Everyone Can Do Something

Lottery Winner

Cash, Near-Term Cash / Working - Retired

How Much, Project Management

Project Management, Internal Monologue, Asking Questions, Outlining, Mind Mapping, Pen and Paper

Five Budgets, Reasons

Five Deadly Ds

Late in Life Learning, Habits, Ruts

Income, Contractual, Unearned, Earned (CUE)

Monthly Shortage

Quarterly Shortage

3.82% = 0.0382

Very Aggressive 12, Aggressive 24, Moderate 36, Conservative 48, Very Conservative 60

Get Started Today

Extremists do more damage than good with their ridiculous claims. An AR15 does not make bazooka size holes in people, stop the fake-news reporting. With everyone anti-everything, wearing a pair of tactical pants might upset the sensibilities of some, even when one only wants to carry things efficiently and effectively without lugging an ever-growing shoulder bag. And how about Twitter; what's it useful for? Not much during the NCAA tournament and Game of Thrones when it comes to a specific group of people. Which means paying attention to the stock market isn't high on the priority list for some. Buy high and sell low is as solid as ever. And who would have ever thought Trump would be the environmental President? Burning the burning man with demands for clean environmental behavior, and generation four nuclear power poo-poo eaters. You'll have to listen to understand.

Connecting the dots with popular television shows and the real world of venture capitalists burning money.

Mutual funds are widely held, and many investors will say they understand how they work, but that’s not true. The overwhelming majority of mutual fund and ETF shareholders are woefully unprepared to make an informed decision, and this includes those who pride themselves as do-it-yourselfers. For those picking their first mutual fund, it can be intimidating. As a result, most people delay years, even decades, before they begin to invest. Continually putting off what needs to be done is a huge mistake. It’s easy to put off doing what’s right when it takes effort, but buying into the wrong approach, a fake advisor, and false savings vehicles can be both financially and emotionally crushing. In today’s Connecting Dots podcast, we expose a bit of the truth about mutual funds, ETFs, pension plans, 401(k)s, 457s, 403bs, advisors, agents, bankers, brokers, dealers, and those horrible financial planners who are pulling the wool over the eyes of a large segment of the investing public.

Stop eating for an extended period of time and the results are amazing.

Paul Grant Truesdell and Paul Grant Truesdell, II of FCF discuss the fantastic story of Space X. Where is the ticker tape parade for Elon? Don't hold your breath. Then there's Boeing and Lockheed. Is their trail of woes their fault or could it be a lack of quality talent coupled with massive internal and external politics? Uber and its lack of a wide-moat coupled with the desire for more regulation by big players like Facebook. These and other items are dots that connect in this episode of Connecting Dots.

Lifeboats for ships and lifeboats for skyscrapers. Let's talk about who's doing what with an eye on who might be poised to make money in the near future; without naming names.