A Quote by Tate Reeves
Many of my friends and allies - not to mention my critics - lobbied me to spend on worthy causes. Who cares about a rainy-day fund when times are good? There are raises to give and projects to fund!
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Building a rainy-day fund during good times may not be politically popular, but it can pay off during the bad times.
I'll occasionally go and do an honor like the Mexican-American Legal Defense Fund because it raises money for a very worthy organization.
I feel very strongly we need to do a better job with the rainy day fund.
I understand that I have many, many friends who are women who understand Planned Parenthood better than you or I will ever understand it. And they do some very good work. Cervical cancer, lots of women's issues, women's health issues are taken care of. I know one of the candidates, I won't mention names, said, "We're not going to spend that kind of money on women's health issues." I am. Planned Parenthood does a really good job at a lot of different areas. But not on abortion. So I'm not going to fund it if it's doing the abortion.
Save 3-6 months of expenses in a Rainy Day fund. Know why? Cause it is going to rain, and you aren't the exception.
I think there are probably too many hedge fund managers in the world, as well as active fund managers. The hedge fund industry is very efficient. We see a lot of hedge funds open and a lot close. It's very binary. You either succeed or fail in the hedge fund world. If you succeed, the amount the managers make it beyond most people's wildest dreams of wealth.
We deliberately filled our rainy-day fund to its statutory capacity over my time leading the Mississippi Senate as lieutenant governor.
We spend to pretend that we're upper class. And when the dust clears - when bankruptcy hits or a family member bails us out of our stupidity - there's nothing left over. Nothing for the kids' college tuition, no investment to grow our wealth, no rainy-day fund if someone loses her job.
My favourite holdings are Vanguard's Wellington Fund, a balanced mutual fund which is a legacy investment from my first career at Wellington Management Co., and the Vanguard 500 Index Fund.
There are two companies that the AI Fund has invested in - Woebot and Landing AI - and the AI Fund has a number of internal teams working on new projects. We usually bring in people as employees, work with them to turn ideas into startups, then have the entrepreneurs go into the startup as founders.
One of the things that I realize is that if you look at big business, I mean, they - and what they fund and what they do, they don't really - they don't fund the small non-profit community-based organizations that really are out there on the front lines helping people. They fund the big philanthropies. They're safe.
The actual fund is called "THE JIMMY FUND" and THE REDSOX FOUNDATION IN BOSTON has gotten involved and people all over New England are very supportive of this effort. The Jimmy Fund is an official charity of the Boston Red Sox and my song "Down at Fenway Park" is often played at Fenway and if you buy the C.D. a portion of the proceeds go to the Jimmy Fund via the Red Sox Foundation.
The big advantage that we have as a venture capital firm over a hedge fund or a mutual fund is we have a 13-year lockup on our money. And so enterprise can go in and out of fashion four different times, and we can go and invest in one of these companies, and it's okay, because we can stay the course.
Frankly, we should have an ARPA-O, an Advanced Research Projects Agency for oceans research, to match DARPA for defense and ARPA-E for energy. And we should have an Oceans and Coasts Fund to match the upland- and freshwater-directed Land and Water Conservation Fund.
Experience conclusively shows that index-fund buyers are likely to obtain results exceeding those of the typical fund manager, whose large advisory fees and substantial portfolio turnover tend to reduce investment yields. Many people will find the guarantee of playing the stock-market game at par every round a very attractive one. The index fund is a sensible, serviceable method for obtaining the market's rate of return with absolutely no effort and minimal expense.
Fund investors are confident that they can easily select superior fund managers. They are wrong.
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