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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (6697)	11/4/2011 6:45:38 AM
From: Justa Werkenstiff	1 Recommendation Read Replies (1) \| Respond to of 10065

Hi I2: "Simplifying things" is a battle that must be fought. I have come to the conclusion that adding something to the house requires management of it so long as it is in the house. You must clean it, move it and you might even lose it at which point you spend your time trying to find it. It all adds up until one day all you are doing is managing your stuff. Same can be said for investments. I have a rule with my better half. If she goes to an enemy-of-men store (Christmas Tree Shops or Pier One Imports or a crafts (craps) store) and buys something, at least one thing in our house must go out the door. Justa

To: Investor2 who wrote (6697)	11/6/2011 4:45:04 PM
From: Boca_PETE	Read Replies (1) \| Respond to of 10065

I2, On "a slow-but-steady quest to simplify my finances... consolidating accounts", do you a one speck of reluctance to do this putting of eggs in fewer custodian baskets given the growth of government fiscal irresponsibility in recent years? Do you think Globaly diversifying one's investment account custodians (ie. choosing a few quality internationally headquartered custodians say in Canada, Europe, Hong Kong, Singapore, Australia, New Zealand, Japan) might provide prudent protection in the event America sinks into the Greek or Argentinian situation in a few years? I realize there are added annual IRS Reporting of Foreign Account requirements if one does this type of diversification (ie. Form 8938 "Statement of Specified Financial Assets" irs.gov ). If not, can you explain why you feel this type of diversification would fail to provide the additional protection. Best wishes, P