oracle of louisville

What’s on the Horizon for 228 Main? 

We live our lives minute by minute, day by day, and only in hindsight do the broad patterns emerge. 

And sometimes, it helps to think through those patterns out loud. 

As it has been for decades now, working to age 92 is a cherished goal of mine. With a goal like that, sustainability is key. To that end, I work four days a week, and I spend some weeks at a time working from afar, enjoying other scenery while I stay connected with you and with my teammates via the wonders of the internet and mobile telephones. 

My partners and I have been putting some energy into thinking about how I spend those working hours. 

A few months ago, Billy, Greg, and Caitie asked me what I wanted more of, so I told them about what I enjoy most. I love our business objective: striving to grow your buckets. My favorite activities are talking to you as well as researching the opportunities and challenges that might impact your portfolios.  

So then, we realized: to do more of what I want at work, don’t I need to be doing less of everything else? 

Clients, that was a moment when I realized how blessed I am to have the partners I do. They asked me that question, and I could almost feel a load lifting from my shoulders as I shouted, “Heck yes!” 

You see, there are tasks that have long been on my plate because once upon a time, mine was the only plate. Parts of my role have included a lot of logistical overhead, the type of detail work that I don’t always enjoy having to do—especially if I could be talking with our clients or researching investments instead! 

All this is to say, there are some exciting organizational changes on the horizon. I’ve long believed that we are all better off working from our strengths and passions, and we’ve got a chance to reshuffle what goes on each of our plates. 

What will not change is the four-person collaborative ownership and management team that shapes the enterprise that works to take care of your business. I simply will get to spend more time doing the parts of the work that are most gratifying to me. 

We’re looking forward to less stress, and more joy, all around. And I’m excited. Stay tuned in the coming weeks: details are on the way! 

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What’s on the Horizon for 228 Main? – 228Main.com Presents: The Best of Leibman Financial Services

This text is available at https://228Main.com/.

Bulls, Bears, and… Red Pandas?

Animal metaphors are all over the business world. There are cash cows and fat cats and top dogs—oh my! 

And maybe you’ve heard of bull markets and bear markets? Bulls swipe their horns up to attack; bears swipe their paws down to attack. Bullish investors are preparing for prices to rise; bearish investors are preparing for prices to fall. These terms are common in investment and market news, but as you’ve learned with us, we don’t like to follow the herd. (See what we did there?) 

We don’t need an animal mascot that’s ready to “attack.” Business isn’t war. We’re trying to grow something here. 

But we could use an animal that’s flexible, light on its feet, and can think for itself. It should be a strong climber, too—ready for all the ups and downs of investing! 

And if we’re picking our own mascot, would it really be so bad if it also happened to be adorable? 

Enter, the red panda.  

Maybe you’ve already heard of these little cuties, but did you know how unique red pandas are? Red pandas are sometimes confused with foxes, traditional panda bears, and even racoons, but they are none of those things! In fact, they are the only species within their genus. They’re one of a kind.  

At first glance, you might also think most financial advisors would all be alike. But once you get to know us, you might find out we’re more like the red panda. It’s hard to put us in anybody else’s category. We’re unique, and we can’t help but be ourselves. 

As for the other qualities? Red pandas hit the mark.  

They’re fabulous climbers, easily scaling mountains and getting up and down trees and bamboo forests. They aren’t afraid to climb down headfirst, nearly vertical (it’s like they know that even the steepest drops won’t go down and down and down forever!). Red pandas have adapted over time and have a “false thumb,” an extra little feature that helps them grip as they climb all over. Flexible? Check.  

On their feet, red pandas have special hairs on the soles so that they don’t sink in the snow, even when they’re running and have to change directions. Their bushy tails also help them stabilize, keeping their balance as they walk along tree branches. Light on their feet? Check. 

Red pandas prefer solitary thought to group-think, so we know they won’t be getting caught up in any herd mentality or stampedes. 

And to top it off, did we mention that red pandas are a symbol of good fortune in some cultures? 

No guarantees, of course, but beyond the bulls and the bears… red pandas might be the animal mascot we’ve been waiting for. 

Clients, what do you think: is it time for 228 Main to adopt an animal friend for a mascot? Call or write in, any time. 

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Bulls, Bears, and Pandas—Oh My! – 228Main.com Presents: The Best of Leibman Financial Services

This text can be found at https://www.228Main.com/.

What It Means to Be “Client-Centered”

What does it mean for our business to be “client-centered”? (Wait, shouldn’t all business be “client-centered”?…) In this week’s video, Mark and Caitie talk about the role the firm plays in our relationships with you, what the client’s job is, and more.

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One of Our Favorite Research Themes: The Future

When The Jetsons first aired, the idea of a robot maid or a flying car seemed too good to be true. Now, we have moving walkways, Roombas, and flying car prototypes. With the growth of green energy, could we live in Orbit City by 2062? Get more here.

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Up a Creek? Grab Your Paddle!

Our daily struggles might have more going for them than we first think. Imagine tripping on the coffee table and thinking, “Gee, it sure is nice to have toes to stub!” A little perspective goes a long way. So “rock bottom” may sound like a terrible place to find oneself, but it also could make a solid place to push off from. This week’s video: a serious lesson from a funny show.

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Public Policies and Personal Choices 

Clients, there’s been plenty of buzz in the public sphere. Policy changes are on their way in many arenas, including potential tax breaks, increases in the national debt, and cutbacks in benefits.

Some of you have been wondering what it will all mean for you. It makes sense to have questions, especially when so many issues are in play right now. Here are a few of the policies that could impact you or someone you know:

We know the pendulum swings back and forth, and mandates to change law are sometimes modified before they can even go into effect. But it still can pay to do some planning when changes could be headed our way.

You may have questions about where to start, and the answers will depend on the particulars of your own situation. Instead, we’ll try to speak generally to some of the personal choices you might consider.

  • For those who are years or decades away from retirement, you might commit to higher monthly deposits to your long-term investments. If Social Security benefits could be lower when you reach retirement, you might offset the difference by socking away more now toward a 401(k), Roth IRA, or other long-term investment balance.
  • For those who depend on ACA or exchange health insurance and receive income-based subsidies, you could keep some extra flexibility in your short-term budget until you know how the subsidy cuts will affect you. Premiums may rise significantly for some people.
  • For those who are retired and have resources to spare, you might consider some targeted philanthropy. Individuals and families are facing cuts to health and nutrition programs, cuts that helped fund the tax breaks. For example, our local and regional food banks are under greater stress as some programs and grants have already been eliminated, and reductions in food benefits will only increase the number of people seeking help.

No matter what stage of life you find yourself in, it may be more important than ever to make sure that your long-term money is invested for the long term, meaning that long-term money is invested for growth—rather than stability.

Think of it this way. Higher government deficits may mean higher inflation, which typically makes the value of things go up while hurting the purchasing power of dollars. Rather than burying those dollars in the backyard—where the erosion will be worse!—we put them to work, buying stock.

Stock represents indirect ownership of the real assets of companies—it’s in mining operations and railways, factories and foundries, offices and stores, and on and on. Investing for the long term means we have a chance to capture the growth of dollars out there in the world, at work.

A lot of it comes back to this: so much seems beyond our control, yet it always pays to think creatively. How do we make the most of it?

Call or email us when you’re ready to talk.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

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Public Policies and Personal Choices – 228Main.com Presents: The Best of Leibman Financial Services

This text is available at https://www.228Main.com/.

Sitting on a Pile? The Meaning of the Treasure

One of the most striking images from Tolkien’s stories is of the dragon Smaug curled up on top of his massive treasure hoard. How far did his riches get him? Some real lessons from fantastic fiction.

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Just One Founder, and Just One Team

What a journey thus far!

I started at the kitchen table. Bought the office building at 228 Main when I could neither afford it nor afford to pass it up. Struggled and juggled for years. Fit a snowbird lifestyle into the middle of it. Survived personal tragedy, a cruel disease that slowly took the life of my high school sweetheart.

And through it all, we grew. More and more people entrusted more and more wealth to our care. More and more teammates helped me hold up my end of the deal.

They say it is not the strongest or the smartest who survive and thrive, but those who adapt and adjust to change.

But then, there are the things that have not changed. We are a team of four advisors—myself, Greg, Caitie, and Billy—along with two full-time service team members, Whitney and Brenda. All of us serve one book of business. Everyone gets access to the same set of services. One story, one philosophy, one book of business.

You may not recognize how different this makes us. (But you also know I’ve never been one to follow the crowd!)

  • In an industry seemingly focused on getting new clients and finding new money, we instead aim all of our intentional efforts entirely at you, our clients. Don’t have time to chase “new money.” Not me, not my teammates.
  • Eliminating sales activity enables us to put investment research, portfolio management, and communicating with you at the center of our work. Many other investment advisors outsource all of that into model portfolios managed by others and buy canned communications, all so that they can go look for new customers.
  • Paradoxically (or not), when we stopped pursuing prospects, we began attracting more clients. People tend to like it a lot when their buckets grow.

Many financial advisor shops, however, are a collection of sole proprietors, each on the prowl for new business all the time. There may be other four-advisor shops that work more like four separate teams that happen to compete nearby each other—not like teammates who play together, toward the same goal.

We believe we are organized differently—and better.

With a team set-up, any client can call any one of us. Four advisors, two service team members, one team. No matter who picks up the phone, we’re committed to getting you pointed in the right direction.

That’s what the team means to me, today.

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Just One Founder, Just One Team – 228Main.com Presents: The Best of Leibman Financial Services

This text is available at https://www.228Main.com/.

A Hunch Is Enough

“What do you want to be when you grow up?” A new school year will be starting soon for many, but it’s not just children who feel like they have to have answers to the big questions. New clients will on occasion visit our office with apologies ready: they don’t exactly know what they want or what they might need in the future. And that’s okay. Plans and hunches and visions… It’s all welcome.

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Wonder How Wonder Woman Does It?

As a parent, I’ve noticed a lot of messages out there telling me that “moms are superheroes.” (Seriously, you can get it on t-shirts and coffee mugs and wine glasses and keychains and anything else you can think of.) 

There’s this idea that a woman today is someone who can handle anything and get it all done. She’s strong. She’s always ready. She basically needs to be Wonder Woman: fight for what’s right, get the job done, and somehow avoid a wardrobe malfunction! 

Whether it’s parenthood or my personal life or my career, I know I don’t need any superhuman expectations piled on me. Regular, everyday expectations are plenty, thank you.  

Instead of comparing myself to a superhero, I prefer to think of myself as a superhero in a superhero movie. 

I never have to go it alone. If this is a superhero movie, then I get my own stunt double! I get a makeup artist and an assistant and a crew and editors—and we’re all in it together. Same goal. We’re all part of making the story happen. The production only comes together when we each pitch in. 

These things are true of my real life, too. I bring my time and talents to work so that I have a chance to use them in service of my clients. I get help from my teammates when I have a question or could benefit from someone else’s strengths. I don’t have to do it all, and neither do my teammates.  

Clients, I want you to know that we go to work for you. We want your story to come to life, and we feel lucky to be part of the production process. If it was reasonable to expect everybody to just figure it all out on their own, we wouldn’t be in business—and a lot of life would probably get more stressful, trying to tough things out alone. 

Each of us is the star of our own show, but think about how long the credits would be. 

Clients, reach out any time. We’re glad to be fighting for you, together. 

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Play the audio version of this post below:

Wonder How Wonder Woman Does It? – 228Main.com Presents: The Best of Leibman Financial Services

This text is available at https://www.228Main.com/.