Don't ever be an executor!

Once again, I have been remiss in updating this blog, but there have been circumstances beyond my control. The fates have decreed that I am the executor of my parents' estate, and lately I have been busier than a one-legged asskicker. At first I spent most of my time dealing with doctors, nurses, hospitals and insurance companies. Now I spend most of my time dealing with bankers, lawyers, brokers, and investment companies, in addition to some of the above.

Oddly enough, the easiest people to work with have been my probate attorney and the Department of Motor Vehicles. I never would have guessed. Until I engaged the attorney, I usually had to do everything three times to get it done, if I was lucky. Sometimes, my efforts were completely ignored. It seems in the legal world there is only one way to do things, and everything takes four to six weeks, and everything isn't perfect, it gets kicked back to me.

The lawyer knows what to do, and provides me with the Declaration of This, and the Affidavits of This, That, and The Other Thing needed to get things done. As far as the DMV is concerned, there are streamlined procedures, and only one way to do anything. But if you do things their way, and fill out their form, everything gets accomplished in a fast and efficient manner (once you've waited in line for 25 minutes.)

So if anyone ever asks you to be an executor, just decline politely. Tell them you're too busy (and believe me, you will be.) It doesn't matter what the fee is, or if you have experience in the business, or you're good with money. It isn't worth it. I feel like I'm an executive. At any given time, I am juggling ten or twelve things, having delegated tasks to people, and hoping they get them done. After a certain amount of time, I have to follow up with each of them just to make sure they're actually doing something. (What? What form? Oh, no! You were supposed to send us Form XYZ-23. We can't do anything without that.) Then why didn't you tell me that, you stupid &*%$#@!?

Speaking of business, I just saw the finale of the Celebrity Apprentice. Donald (the idiot) Trump just picked Joan Rivers over Annie Duke, which is the dumbest business decision I have seen since New Coke. All I can say is that I have seen the first eight seasons of The Apprentice, but I won't be watching the ninth one. You can't reward nasty, abusive people at the expense of a competent professional, and expect to maintain my interest.

Last of all, my comment on the financial markets. More and more, it is looking like the 1970's again, not the 1930's. Massive global financial stimulus is finally having an effect, and we are seeing that in uptrends in commodities and the Baltic Dry Freight Index. However, the recent run in the broad stock market that has taken the Dow up 2000 points is a mirage. To put it bluntly, it is a sucker rally, nothing more than a bear market rally.

The large banks are still insolvent, and no matter what the stress tests say, they should all be bankrupt. Further, the American consumer is tapped out, and predictions of GDP growth are hopelessly optimistic. When the economic improvement comes, it will be led by China, India and Brazil, not the United States.

We're already starting to see a breakdown in the US Dollar, with the $C up to 87 cents, and 10-year T-Bond yields up to 3.3%. Resource stocks will do very well in this environment. Gold, silver, oil, and gas in particular, but once inflation starts to show up later this year, the soft commodities and even base metals will do well. The only remaining caveat for mining shares is that when the rally in the broad stock market fizzles out, will the gold stocks act like gold or like stocks? It is possible that mining stocks could sell off with everything else, but if they do, that will present one last buying opportunity before gold and silver move up sharply. More likely, the lows for mining shares are already in.