Sun Patriot http://sunpatriot.com The Waconia Patriot, Carver County News and Norwood Young America Times Thu, 02 Jul 2015 19:02:12 +0000 en-US hourly 1 Over-Diversification Danger http://sunpatriot.com/2015/07/02/over-diversification-danger/ http://sunpatriot.com/2015/07/02/over-diversification-danger/#comments Thu, 02 Jul 2015 19:02:12 +0000 http://sunpatriot.com/?guid=99022d2b96e7b024713a9bd3a4e52f85 Do you collect mutual funds? Unlike hobbyists who collect stamps, art or rare coins, investors who own a multitude of funds are not better off.

While diversification is important to any portfolio, owning too many funds can make investing more complicated that necessary.

One of my clients owned 16 different accounts, including an array of stock and bond mutual funds. In all, he had 56 mutual fund positions. Everyone should be well-diversified, but this client had missed that mark. He had a cluttered collection of investments that didn’t serve him well.

A lot of folks are in the same situation: Their finances are a hodgepodge. Good financial advisors bring order to that mess, and adopt a common-sense strategy for the long term.

Five years ago, the client, a doctor, came to me because he wanted to retire. His portfolio was sizeable, yet he had no idea what he owned or why. “I simply don’t understand what I have,” he said. “Will I have enough cash flow in retirement?”

I told him his concern was spot-on. I helped consolidate his holdings while greatly improving his diversification.

Here’s what’s wrong with owning too many funds and other investments:

Tracking them all is difficult. You should review all your monthly statements. Following 16 accounts can be a nightmare. Rebalancing when your circumstances change or funds shift in value is a challenge. Evaluating performance is nearly impossible. Fewer funds and accounts are much easier to handle.

Duplication is common. With so many funds aggregated haphazardly with no plan, you get a lot of overlap. My client had some funds that matched his Standard & Poor’s 500 index fund, except they cost more in annual fees. There’s no sense in paying for more of the same thing.

There’s little diversification, and risk isn’t reduced. Ideally, a portfolio is sufficiently balanced so that if one asset suffers, others offset its losses. A study by Morningstar, the investment research firm, shows that owning more than four randomly selected funds decreases risk very little. Only a small difference exists between holding four funds and 30.

Figuring out where to get cash in retirement is a chore. Once retirement begins, you need to decide which accounts should provide your cash flow. Consolidated accounts made this process much easier.

In my client’s case, around 80% of his portfolio was in stocks or equity funds. His portfolio looked like that of a 30-year-old, not a 70-year-old. All that stock exposure was too risky for a man his age. You need to safeguard the value of your assets to see yourself through retirement.

We switched him to a 50%-50% split between stocks and bonds. This gave the client the ballast of a solid fixed-income allocation, and also allowed him enough stock exposure to keep his net worth growing – thus increasing his chance of leaving a substantial bequest for his heirs. Stocks’ growth usually offsets inflation, which eats away at bonds.

Before he came to us, my client was driving with no road map. In assisting him, we dramatically simplified his financial life.

As with most things, in the world of financial planning, simpler is better.

Follow AdviceIQ on Twitter at @adviceiq.

Jason Lina, CFA, CFP is Lead Advisor at Resource Planning Group Ltd. in Atlanta. Website: www.rpgplanner.com.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Do you collect mutual funds? Unlike hobbyists who collect stamps, art or rare coins, investors who own a multitude of funds are not better off.

While diversification is important to any portfolio, owning too many funds can make investing more complicated that necessary.

One of my clients owned 16 different accounts, including an array of stock and bond mutual funds. In all, he had 56 mutual fund positions. Everyone should be well-diversified, but this client had missed that mark. He had a cluttered collection of investments that didn’t serve him well.

A lot of folks are in the same situation: Their finances are a hodgepodge. Good financial advisors bring order to that mess, and adopt a common-sense strategy for the long term.

Five years ago, the client, a doctor, came to me because he wanted to retire. His portfolio was sizeable, yet he had no idea what he owned or why. “I simply don’t understand what I have,” he said. “Will I have enough cash flow in retirement?”

I told him his concern was spot-on. I helped consolidate his holdings while greatly improving his diversification.

Here’s what’s wrong with owning too many funds and other investments:

Tracking them all is difficult. You should review all your monthly statements. Following 16 accounts can be a nightmare. Rebalancing when your circumstances change or funds shift in value is a challenge. Evaluating performance is nearly impossible. Fewer funds and accounts are much easier to handle.

Duplication is common. With so many funds aggregated haphazardly with no plan, you get a lot of overlap. My client had some funds that matched his Standard & Poor’s 500 index fund, except they cost more in annual fees. There’s no sense in paying for more of the same thing.

There’s little diversification, and risk isn’t reduced. Ideally, a portfolio is sufficiently balanced so that if one asset suffers, others offset its losses. A study by Morningstar, the investment research firm, shows that owning more than four randomly selected funds decreases risk very little. Only a small difference exists between holding four funds and 30.

Figuring out where to get cash in retirement is a chore. Once retirement begins, you need to decide which accounts should provide your cash flow. Consolidated accounts made this process much easier.

In my client’s case, around 80% of his portfolio was in stocks or equity funds. His portfolio looked like that of a 30-year-old, not a 70-year-old. All that stock exposure was too risky for a man his age. You need to safeguard the value of your assets to see yourself through retirement.

We switched him to a 50%-50% split between stocks and bonds. This gave the client the ballast of a solid fixed-income allocation, and also allowed him enough stock exposure to keep his net worth growing – thus increasing his chance of leaving a substantial bequest for his heirs. Stocks’ growth usually offsets inflation, which eats away at bonds.

Before he came to us, my client was driving with no road map. In assisting him, we dramatically simplified his financial life.

As with most things, in the world of financial planning, simpler is better.

Follow AdviceIQ on Twitter at @adviceiq.

Jason Lina, CFA, CFP is Lead Advisor at Resource Planning Group Ltd. in Atlanta. Website: www.rpgplanner.com.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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CCN to move but retain prized tradition http://sunpatriot.com/2015/07/02/ccn-to-move-but-retain-prized-tradition/ http://sunpatriot.com/2015/07/02/ccn-to-move-but-retain-prized-tradition/#comments Thu, 02 Jul 2015 18:42:48 +0000 http://sunpatriot.com/?p=54274 The first-ever edition of the Carver County News was published in 1887 and has been covering the cities of Watertown, Mayer and surrounding communities for generations. That’s 128 years of publishing your local newspaper. For years, the newspaper was assembled with a large staff using century-old printing techniques. Much of this work was done by hand and without the help of computers. There was a time when this was all done at our Carver County News office in Watertown.
Over time, technology changed and allowed us to streamline the weekly publishing of the newspaper, freeing us from mundane tasks and allowing us to focus on what really matters to our readers. Today, technology has rocketed forward, allowing us to bring you news and information in ways we only dreamed about decades ago. Despite all the changes we have witnessed, our core values remain unchanged: We still cover school board, city council, and county board meetings, local sporting events and much more because they impact the people of this area. We see great value in providing readers with local news, features, information and advertising that is unique and relevant to our communities.
To keep pace and plan toward a bright future, we will continue to invest in our newspaper, the product that actually helps give voice and life to the community. We are committed to providing a vibrant local newspaper for years to come.
In today’s fast moving world, change is inevitable. One of the changes you may have recently noticed has to do with our building on Lewis Avenue in downtown Watertown. It is simply a much larger space than we need so we have decided to sell the building. This decision came after much consideration.
Much of what you read in the newspaper each week has little to do with a building, but everything to do with interviewing and talking with the residents and business owners of this area. It is through our conversations with you that stories and advertisements originate. That is the lifeblood that keeps us connected as a community. We’ll still have an office space to conduct some of our work; we just don’t need 2,000 square feet. Our need for a large building has obviously changed and the large Lewis Avenue building could best be used to help other local businesses since we don’t need that much space for our local staff.
ECM Publishers is a privately owned, Minnesota company that publishes the Carver County News along with 48 other local community newspapers in Minnesota. Each of these newspapers is locally written, however much of the operational and printing work is done centrally.
We are not leaving Watertown and the newspaper is not closing– just the opposite. Our editor Ethan Groothuis will be moving across the street to 121 Lewis Avenue South and continue to write about the stories that matter most. Rick Brauer, display adverting, and Norma Carstensen, classified advertising, will continue to be the local advertising sales representatives.
An office building is just bricks and mortar. It does not define the newspaper. The newspaper itself represents the eyes and ears of recorded history for our area and informs through your stories and photos.
Change occurs with every business. ECM Publishers is making many changes every day to provide you with a better newspaper and website. Our commitment to quality community journalism remains at the forefront, which is why we are excited about the opportunity to continue to serve Carver County News readers now and well into the future. We still want to share your stories, post your news, publish your photos, advertise your sales and record history. That will never change!
Please feel free to visit us at our new office which is at 121 Lewis Avenue South or call us at 952-955-1111 any time. Ethan can also be reached via email at ethan.groothuis@ecm-inc.com.

Mark Weber is the General Manager of ECM Publishers.

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What Your Policies Cover http://sunpatriot.com/2015/07/02/what-your-policies-cover/ http://sunpatriot.com/2015/07/02/what-your-policies-cover/#comments Thu, 02 Jul 2015 16:04:31 +0000 http://sunpatriot.com/?guid=d35dd215e0e30e7fb1d87853513c23e0 We understand the importance of insurance to protect us financially. But many of us pay for insurance every year without knowing exactly what it covers and what it does not. Let’s take a closer look at common property and casualty insurance to find out whether you have enough protection.

Homeowner’s insurance covers many damages, including theft, wind or fire perils and more. It adds liability insurance to the standard hazard policy to cover any injuries to people on your property. Your homeowner’s insurance kicks in, for example, if your dog bites a child.

But many potential disasters aren’t covered, such as flood and earthquake damage. Look at the exclusions category of your homeowner’s insurance to see what your existing policy doesn’t pay for. If you’re at risk for these scenarios, additional insurance policies are available (and may even be required from lenders if you’re taking out a mortgage).

In the case of the destruction of your home, many policies cover your loss up to an initial estimate, but some policies provide guaranteed replacement, which covers the complete repair or rebuilding costs.

Also, check your deductibles, the amount you must pay out of pocket before your benefits kick in. If you have the cash flow to handle the initial costs should anything happen, you may want to opt for a higher deductible to lower your premium. Claiming small losses on your homeowner’s insurance can increase your rate, and the insurer can cancel your policy in some circumstances.

Renter’s insurance protects against the loss or destruction of your possessions. If you are a renter, you want to make sure you have it, because your landlord’s insurance doesn’t cover you.

Renter’s insurance is often very affordable, and many landlords require it before accepting a lease. Similar to homeowner’s, renter’s insurance also provides your personal liability coverage. If someone visiting you is injured in your home, the insurance company pays.

Car insurance, in most states, is a requirement. Basic policies include liability coverage for the injury and property claims of another party when you’re at fault in an accident. Some states also mandate personal injury protection. This pays for your own medical expenses in an automobile accident, regardless of who was at fault.

There is extra coverage such as collision, comprehensive and uninsured motorist. Collision insurance covers your repairs costs if you hit something and damage your car. Comprehensive covers losses not resulting from automobile accidents, such as fire, storms, theft, and vandalism.

Uninsured motorist coverage protects you in a hit-and-run. For just a bit more, you can also purchase an underinsured provision, which kicks in when a driver injures you or damages your property, but does not have adequate coverage for the full amount.

Valuables insurance. If you have homeowner’s insurance or renter’s insurance, you have some protection for precious valuables like jewelry, art or collectibles. However, the liability limits are often low.

If you have special valuables that are worth more than the policy limit, look into raising it or purchase a separate rider for each item.

Umbrella insurance. We discussed protecting your home, your car and your valuables. But there’s something that many overlook – your net worth. Your savings, home and future earnings could be at risk if a bad car accident quickly exceeds your liability limit in your standard policy.

Umbrella insurance protects your net worth by covering the difference in all your policies. It pays for property damage, bodily injury claims and legal costs. Typically, such policies start at $1 million in coverage for around $200 a year. If you can’t afford to rebuild your nest egg, you want to protect it with umbrella insurance.

With this overview in hand, talk with your insurance agent or broker about which coverage is right for your situation.

Follow AdviceIQ on Twitter at @adviceiq.

Mary Beth Storjohann, CFP, is the founder of Workable Wealth, an RIA in San Diego. She is a writer, speaker and financial coach who is passionate about working with individuals and couples in their 20s and 30s to help them organize and gain confidence in their financial lives. She has been quoted or featured in various industry publications on the local and national level. You can find her on Twitter at @marybstorj.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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We understand the importance of insurance to protect us financially. But many of us pay for insurance every year without knowing exactly what it covers and what it does not. Let’s take a closer look at common property and casualty insurance to find out whether you have enough protection.

Homeowner’s insurance covers many damages, including theft, wind or fire perils and more. It adds liability insurance to the standard hazard policy to cover any injuries to people on your property. Your homeowner’s insurance kicks in, for example, if your dog bites a child.

But many potential disasters aren’t covered, such as flood and earthquake damage. Look at the exclusions category of your homeowner’s insurance to see what your existing policy doesn’t pay for. If you’re at risk for these scenarios, additional insurance policies are available (and may even be required from lenders if you’re taking out a mortgage).

In the case of the destruction of your home, many policies cover your loss up to an initial estimate, but some policies provide guaranteed replacement, which covers the complete repair or rebuilding costs.

Also, check your deductibles, the amount you must pay out of pocket before your benefits kick in. If you have the cash flow to handle the initial costs should anything happen, you may want to opt for a higher deductible to lower your premium. Claiming small losses on your homeowner’s insurance can increase your rate, and the insurer can cancel your policy in some circumstances.

Renter’s insurance protects against the loss or destruction of your possessions. If you are a renter, you want to make sure you have it, because your landlord’s insurance doesn’t cover you.

Renter’s insurance is often very affordable, and many landlords require it before accepting a lease. Similar to homeowner’s, renter’s insurance also provides your personal liability coverage. If someone visiting you is injured in your home, the insurance company pays.

Car insurance, in most states, is a requirement. Basic policies include liability coverage for the injury and property claims of another party when you’re at fault in an accident. Some states also mandate personal injury protection. This pays for your own medical expenses in an automobile accident, regardless of who was at fault.

There is extra coverage such as collision, comprehensive and uninsured motorist. Collision insurance covers your repairs costs if you hit something and damage your car. Comprehensive covers losses not resulting from automobile accidents, such as fire, storms, theft, and vandalism.

Uninsured motorist coverage protects you in a hit-and-run. For just a bit more, you can also purchase an underinsured provision, which kicks in when a driver injures you or damages your property, but does not have adequate coverage for the full amount.

Valuables insurance. If you have homeowner’s insurance or renter’s insurance, you have some protection for precious valuables like jewelry, art or collectibles. However, the liability limits are often low.

If you have special valuables that are worth more than the policy limit, look into raising it or purchase a separate rider for each item.

Umbrella insurance. We discussed protecting your home, your car and your valuables. But there’s something that many overlook – your net worth. Your savings, home and future earnings could be at risk if a bad car accident quickly exceeds your liability limit in your standard policy.

Umbrella insurance protects your net worth by covering the difference in all your policies. It pays for property damage, bodily injury claims and legal costs. Typically, such policies start at $1 million in coverage for around $200 a year. If you can’t afford to rebuild your nest egg, you want to protect it with umbrella insurance.

With this overview in hand, talk with your insurance agent or broker about which coverage is right for your situation.

Follow AdviceIQ on Twitter at @adviceiq.

Mary Beth Storjohann, CFP, is the founder of Workable Wealth, an RIA in San Diego. She is a writer, speaker and financial coach who is passionate about working with individuals and couples in their 20s and 30s to help them organize and gain confidence in their financial lives. She has been quoted or featured in various industry publications on the local and national level. You can find her on Twitter at @marybstorj.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Zion Lutheran makes changes for 2015-16 http://sunpatriot.com/2015/07/02/zion-lutheran-makes-changes-for-2015-16/ http://sunpatriot.com/2015/07/02/zion-lutheran-makes-changes-for-2015-16/#comments Thu, 02 Jul 2015 14:00:43 +0000 http://sunpatriot.com/?p=54223 NT - Zion Tom Marcsisak - CMYK

Zion Lutheran School Principal Tom Marsisak will remain a teacher at the school amidst several changes. (NYA Times staff photo by Adam Gruenewald)

by ADAM GRUENEWALD
NYA Times

Zion Lutheran School will experience some changes for the 2015-16 school year, including a new teacher and a change in principal.
At the forefront of those changes is longtime teacher and principal Tom Marcsisak, who will remain on staff as the fifth- and sixth-grade teacher while stepping down as principal to allow for Chris Dehning to take the post. New teacher Jenna Rodman will also join the staff.
Marcsisak, 55, said he was eager to let Dehning take over the position.
“I’m very fine with letting the young guy advance himself,” said Marcsisak. “I said whenever you think you’re ready you tell me and the job is yours.”
A mainstay at the school for more than 30 years, Marcsisak is eager to oversee the direction of the school.
Marcsisak, principal for three years since taking over for David Gosa, certainly has made an impact on Zion since first getting assigned a teaching position in 1981 a few months after graduating from Concordia St. Paul.
Initially an undecided student, Marcsisak developed an interest in teaching at the suggestion of a mentor during his freshman year who was looking for summer camp counselors.
“It was the camp I went to as a kid and I thought it could be fun,” he said. “I realized working with kids and talking to them about God and Jesus was really a lot of fun.”
Seizing full advantage of the opportunity, the Iowa-native initially taught third- through fifth-grade for 19 years, before another teacher was hired and he became the fifth- and sixth-grade teacher.
“You’re not going to get a better situation than Zion Lutheran Church,” he said. “I’ve never had any desire to leave.”
As principal and teacher, Marcsisak said he has tried to cultivated a fun school environment in the close-knit atmosphere.
“If you can make school fun, that’s the goal” he said. “Generally I don’t think people mind or the kids mind coming to school here.”
He has also helped Zion adapt over the years as a small Lutheran school, given challenges of transportation and tuition.
“It’s harder for parochial private schools to make a go of it,” said Marcsisak, pointing out the recent closure of St. Bernard’s School in Cologne and the new growth of Cologne Academy.
Enrollment is expected to remain steady in the next few years, Marcsisak said.
“We’re holding our own,” he said.
Most of those concerns will now fall on Dehning, but Marcsisak will be there to help him adjust to the position.
“I think it’s going to be fine,” he said. “I’ll be able to help him if he has questions but I don’t think he’ll have questions. He’s probably more trained to do the job than I was.”
The “grandfather” of the Zion family, Marcsisak is eager  to his fellow teachers as they will also offer pre-school and after-school programs next year, with additional pre-school options.
“We’ve got a very nice mix,” said Marcsisak. “We’ve got a good, diverse mix of talents. We’ve got people with music talents, with artistic talents and with athletic talents.”
He will also be there for the Zion community as he always has been.
“That’s the thing you see the things you have to do and you do the things you have to do when you have to do them,” he said.
Retirement is far from his mind as well.
“I’m not ready to quit,” he said. “I still enjoy getting up every day.”
Marcsisak and his wife, Julianne, have three daughters Tara Bones, Tiffany Olson and Tonya Spector and four grandchildren.
Zion Lutheran School is located at 14735 County Road 153 in Cologne. For more information, call 952 466-3379 or visit http://zioncologne.wix.com/zion-lutheran-church-school.
Read more about new teacher Jenna Rodman and principal Chris Dehning in a future NYA Times.

Contact Adam Gruenewald at adam.gruenewald@ecm-inc.com.

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Is China Washed Up? Hardly http://sunpatriot.com/2015/07/02/is-china-washed-up-hardly/ http://sunpatriot.com/2015/07/02/is-china-washed-up-hardly/#comments Thu, 02 Jul 2015 13:32:52 +0000 http://sunpatriot.com/?guid=8818c21bd85301700ebd1413045174a6 China is headed for the dumper. So goes the negative chorus on the world’s second largest economy. Slowing growth, horrible air pollution, a real estate bubble – the reasons given for the country’s demise are numerous. But despite China’s woes, its prospects remain bright.

One positive indicator: The country’s stock markets have rallied recently, finally catching up to the overall economy. The government has enacted reforms that have helped a lot.

Aiming to avoid rampant speculation and uncontrolled bubbles, previous policies erred on the side of safety and conservatism. One effective new step is the removal of limits on ownership of multiple accounts with varying brokers, which has led to over 12 million new accounts (known as domestic A-shares) opened in under a month.

But to its critics, China is in the same position as the kid who’s trying to make the team, but is competing against the coach’s son for the last spot on the roster. Nothing he does is ever going to be good enough in the coach’s eyes; every good play he makes must be lucky.

Although it is such a major economic force  – the International Monetary Fund estimates it will be the largest contributor to world gross domestic product expansion for 2015 – some still regard it as not belonging on the world stage, let alone atop it. Many choose to simply ignore it.

This is a serious mistake. China is where long-term opportunities reside. While this also leads to short-term volatility and risk, the temporary anxiety is well worth the end reward.

The commodities market, which has long benefited from Chinese demand, seems to agree with this optimism: “Dr. Copper,” as it is known, has rallied along with other base metals to yearly highs. This development argues against the view of pundits that the country’s economy is weakening. We concur, and believe that the economy is settling into a secure and sustainable rate of growth.

Pessimists make much of China’s economic growth slowing from its unsustainable annual rate of over 10% during the last decade, to a projected rate this year of around 7%. Left out is that the rest of the world is growing at half that rate at best, and despite all the cheerful talk of recovery and joy on Wall Street, the U.S. last year grew at just 2.4%.

More important, because China’s GDP has grown so much over the last decade or so, a 7% increase now brings in more actual growth in total dollars than did 10% from a smaller base 10 years ago.

China’s detractors say that it was growing too fast and was too reliant on exports. Real estate was in an obvious speculative bubble and the government had too much control; central planning doesn’t work. (These last two come from the same people who missed the U.S. bubble, which resulted from loose monetary policy – and now they call for more regulations and federal oversight of an ever larger piece of the economic pie). Chinese inflation? Too high. Wages? Too low.

Fast-forward to the present. China’s leadership acted to stabilize the economy. It had indeed been growing at an unsustainable rate (the highest single-year increase. was almost 14%), but the point of it was to pull as many people out of poverty as quickly as possible.

For a long time, massive government spending on infrastructure and cheap manufacturing meant for mass export were the basis of its economic development. This has changed into a more service and consumption-based economy (while still having a significant amount of real exports). The government is both loosening its hand, and actually selling off majority portions of state-owned enterprises to the private sector.

Private firms are now responsible for 80% of all employment, and virtually 100% of net new jobs. The government itself has stated that they could only help incubate and take things so far; afterward, experienced business managers must take over from government bureaucrats. Wages have risen at near double-digit rates for the last two years, yet inflation has remained tamed, so much so that if necessary Beijing could initiate a financial stimulus program.

Most important is the loosening of restraints on the trading of mainland A-shares and allowing a wider variety of standard trading practices, such as short selling. The China Securities Regulatory Commission announced in March that mutual funds will be able to trade between Shanghai and Hong Kong exchanges, foreigners will have access to Shanghai-listed shares, and Chinese citizens will be able to access stocks traded on Hong Kong’s Hang Seng Exchange for the first time in history.

Shares on the Hong Kong Exchange (the city is semi-autonomous) currently are at a discount to those of the same companies traded on the mainland. This should narrow considerably with the benefits mostly in favor of the Hong Kong H-shares, as Chinese are finally able to invest outside of their own country, and keen on taking advantage of the newly available arbitrage, where they can play off the price differences on the two bourses. Shenzhen is expected to join the mix later in the year, and trading in commodities and fixed-income instruments should not be far behind.

Will there be missteps and corrections along the way? Of course, but that is natural for any dynamic economy, especially one growing and transforming at such high rates. One failed company or changing industry does not an economy ruin.

As far as that talented kid trying to show off his skills and being ignored by the coach? Perhaps it’s not the player but the coach who is wrong.

Follow AdviceIQ on Twitter at @adviceiq.

Partners Mark J. Foley and Tina Larsson manage the Pendo International Strategy for independent financial adviser Pendo LLC in New York. Pendo LLC is a full-service financial advisor dedicated to providing objective investment advice and personalized investment management services to individuals and institutions. Partners Mark J. Foley and Tina Larsson are long-term value investors with an emphasis on international equity markets; they are frequent contributors to Advice IQ.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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China is headed for the dumper. So goes the negative chorus on the world’s second largest economy. Slowing growth, horrible air pollution, a real estate bubble – the reasons given for the country’s demise are numerous. But despite China’s woes, its prospects remain bright.

One positive indicator: The country’s stock markets have rallied recently, finally catching up to the overall economy. The government has enacted reforms that have helped a lot.

Aiming to avoid rampant speculation and uncontrolled bubbles, previous policies erred on the side of safety and conservatism. One effective new step is the removal of limits on ownership of multiple accounts with varying brokers, which has led to over 12 million new accounts (known as domestic A-shares) opened in under a month.

But to its critics, China is in the same position as the kid who’s trying to make the team, but is competing against the coach’s son for the last spot on the roster. Nothing he does is ever going to be good enough in the coach’s eyes; every good play he makes must be lucky.

Although it is such a major economic force  – the International Monetary Fund estimates it will be the largest contributor to world gross domestic product expansion for 2015 – some still regard it as not belonging on the world stage, let alone atop it. Many choose to simply ignore it.

This is a serious mistake. China is where long-term opportunities reside. While this also leads to short-term volatility and risk, the temporary anxiety is well worth the end reward.

The commodities market, which has long benefited from Chinese demand, seems to agree with this optimism: “Dr. Copper,” as it is known, has rallied along with other base metals to yearly highs. This development argues against the view of pundits that the country’s economy is weakening. We concur, and believe that the economy is settling into a secure and sustainable rate of growth.

Pessimists make much of China’s economic growth slowing from its unsustainable annual rate of over 10% during the last decade, to a projected rate this year of around 7%. Left out is that the rest of the world is growing at half that rate at best, and despite all the cheerful talk of recovery and joy on Wall Street, the U.S. last year grew at just 2.4%.

More important, because China’s GDP has grown so much over the last decade or so, a 7% increase now brings in more actual growth in total dollars than did 10% from a smaller base 10 years ago.

China’s detractors say that it was growing too fast and was too reliant on exports. Real estate was in an obvious speculative bubble and the government had too much control; central planning doesn’t work. (These last two come from the same people who missed the U.S. bubble, which resulted from loose monetary policy – and now they call for more regulations and federal oversight of an ever larger piece of the economic pie). Chinese inflation? Too high. Wages? Too low.

Fast-forward to the present. China’s leadership acted to stabilize the economy. It had indeed been growing at an unsustainable rate (the highest single-year increase. was almost 14%), but the point of it was to pull as many people out of poverty as quickly as possible.

For a long time, massive government spending on infrastructure and cheap manufacturing meant for mass export were the basis of its economic development. This has changed into a more service and consumption-based economy (while still having a significant amount of real exports). The government is both loosening its hand, and actually selling off majority portions of state-owned enterprises to the private sector.

Private firms are now responsible for 80% of all employment, and virtually 100% of net new jobs. The government itself has stated that they could only help incubate and take things so far; afterward, experienced business managers must take over from government bureaucrats. Wages have risen at near double-digit rates for the last two years, yet inflation has remained tamed, so much so that if necessary Beijing could initiate a financial stimulus program.

Most important is the loosening of restraints on the trading of mainland A-shares and allowing a wider variety of standard trading practices, such as short selling. The China Securities Regulatory Commission announced in March that mutual funds will be able to trade between Shanghai and Hong Kong exchanges, foreigners will have access to Shanghai-listed shares, and Chinese citizens will be able to access stocks traded on Hong Kong’s Hang Seng Exchange for the first time in history.

Shares on the Hong Kong Exchange (the city is semi-autonomous) currently are at a discount to those of the same companies traded on the mainland. This should narrow considerably with the benefits mostly in favor of the Hong Kong H-shares, as Chinese are finally able to invest outside of their own country, and keen on taking advantage of the newly available arbitrage, where they can play off the price differences on the two bourses. Shenzhen is expected to join the mix later in the year, and trading in commodities and fixed-income instruments should not be far behind.

Will there be missteps and corrections along the way? Of course, but that is natural for any dynamic economy, especially one growing and transforming at such high rates. One failed company or changing industry does not an economy ruin.

As far as that talented kid trying to show off his skills and being ignored by the coach? Perhaps it’s not the player but the coach who is wrong.

Follow AdviceIQ on Twitter at @adviceiq.

Partners Mark J. Foley and Tina Larsson manage the Pendo International Strategy for independent financial adviser Pendo LLC in New York. Pendo LLC is a full-service financial advisor dedicated to providing objective investment advice and personalized investment management services to individuals and institutions. Partners Mark J. Foley and Tina Larsson are long-term value investors with an emphasis on international equity markets; they are frequent contributors to Advice IQ.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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HILGERS http://sunpatriot.com/2015/07/02/hilgers-2/ http://sunpatriot.com/2015/07/02/hilgers-2/#comments Thu, 02 Jul 2015 11:28:08 +0000 http://sunpatriot.com/?p=54267 SUMMONS
STATE OF MINNESOTA
COUNTY OF CARVER
DISTRICT COURT
FIRST JUDICIAL DISTRICT
Case No.: 10-CV-15-583
Case Type: Quiet Title
Wells Fargo Bank, N.A., as Trustee for the Pooling and Servicing Agreement dated as of November 1, 2004 Asset-Backed Pass-Through Certificates Series 2004-WHQ2;
Plaintiff,
vs.
Joel J. Hilgers; all other persons unknown claiming any right, title, estate, interest or lien in the real estate described in the complaint herein;
Defendants.
THIS SUMMONS IS DIRECTED TO JOEL J. HILGERS AND ALL OTHER PERSONS UNKNOWN CLAIMING ANY RIGHT, TITLE, ESTATE, INTEREST OR LIEN IN THE REAL ESTATE DESCRIBED IN THE COMPLAINT HEREIN.
1. YOU ARE BEING SUED. The Plaintiff has started a lawsuit against you. The Plaintiffs Complaint against you is on file with the Carver County District Court. Do not throw these papers away. They are official papers that affect your rights. You must respond to this lawsuit even though it may not yet be filed with the Court and there may be no court file number on this summons.
2. YOU MUST REPLY WITHIN 20 DAYS TO PROTECT YOUR RIGHTS. You must give or mail to the person who signed this summons a written response called an Answer within 20 days of the date on which you received this Summons. You must send a copy of your Answer to the person who signed this summons located at:
Houser & Allison, APC
c/o Daniel J. Sathre
350 Highway 7, Suite 138
Excelsior, MN 55311
3. YOU MUST RESPOND TO EACH CLAIM. The Answer is your written response to the Plaintiffs Complaint. In your Answer you must state whether you agree or disagree with each paragraph of the Complaint. If you believe the Plaintiff should not be given everything asked for in the Complaint, you must say so in your Answer.
4. YOU WILL LOSE YOUR CASE IF YOU DO NOT SEND A WRITTEN RESPONSE TO THE COMPLAINT TO THE PERSON WHO SIGNED THIS SUMMONS. If you do not Answer within 20** days, you will lose this case. You will not get to tell your side of the story, and the Court may decide against you and award the Plaintiff everything asked for in the complaint. If you do not want to contest the claims stated in the complaint, you do not need to respond. A default judgment can then be entered against you for the relief requested in the complaint.
5. LEGAL ASSISTANCE. You may wish to get legal help from a lawyer. If you do not have a lawyer, the Court Administrator may have information about places where you can get legal assistance. Even if you cannot get legal help, you must still provide a written Answer to protect your rights or you may lose the case.
6. ALTERNATIVE DISPUTE RESOLUTION. The parties may agree to or be ordered to participate in an alternative dispute resolution process under Rule 114 of the Minnesota General Rules of Practice. You must still send your written response to the Complaint even if you expect to use alternative means of resolving this dispute.
7. THIS LAWSUIT MAY AFFECT OR BRING INTO QUESTION TITLE TO REAL PROPERTY located in Carver County, State of Minnesota, legally described as follows:
THE EAST 1/2 OF THE NORTHWEST 1/4 OF SECTION 27, TOWNSHIP 116 NORTH, RANGE 25 WEST, EXCEPTING THEREFROM THE RIGHT OF WAY OF THE MINNEAPOLIS AND ST. LOUIS RAILWAY COMPANY, AND EXCEPTING THAT PART OF THE EAST 1/2 OF THE NORTHWEST 1/4 OF SECTION 27, TOWNSHIP 116 NORTH, RANGE 25 WEST LYING SOUTH OF THE SOUTHERLY RIGHT OF WAY LINE OF THE MINNEAPOLIS AND ST. LOUIS RAILWAY COMPANY
(the Property).
The object of this action is one under Minnesota statutes 559.01 and 555.01 to quiet Plaintiffs fee simple title to the Property and to obtain an order adjudging and declaring that the above-named Defendants have no right, title, lien or interest in or to the Property.
Dated: May 18, 2015
HOUSER & ALLISON, APC
By: /s/ Daniel J. Sathre
By: Daniel J. Sathre (#0390488)
350 Highway 7, Suite 138
Excelsior, MN 55331
P: (612) 444-1774
F: (612) 444-1773
dsathre@houser-law.com
Attorneys for Plaintiff

7/2-7/16/15, 3WP,
Hilgers Summons, 415252

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TRANSPORTATION http://sunpatriot.com/2015/07/02/transportation/ http://sunpatriot.com/2015/07/02/transportation/#comments Thu, 02 Jul 2015 11:26:46 +0000 http://sunpatriot.com/?p=54265 NOTICE TO
TRANSPORTATION
PROVIDERS
The Norwood Young America Economic Development Authority dba The Harbor at Peace Village hereby provides notice that it intends to apply to the Minnesota Department of Transportation for transportation equipment to serve elderly and persons with disabilities in Norwood Young America and surrounding areas. A Class 400 vehicle with 14 passenger and 2 wheelchair spaces will be requested. Individuals or agencies seeking to request transportation service, coordinate with Norwood Young America Economic Development Authority dba The Harbor at Peace Village or comment about the application should contact Laurie Hilgers at The Harbor at Peace Village, 300 North Faxon Road, Norwood Young America, MN 55368, (952) 467-9683.

7/2/15, 3NYA,
Transportation Providers, 413684

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Banner Signs http://sunpatriot.com/2015/07/02/banner-signs/ http://sunpatriot.com/2015/07/02/banner-signs/#comments Thu, 02 Jul 2015 11:26:22 +0000 http://sunpatriot.com/?p=54263 PUBLIC HEARING NOTICE
NOTICE IS HEREBY GIVEN, That the City Council of St. Bonifacius will hold a Public Hearing on July 15, 2015 at 6:00 P.M. in the Council Chambers at 8535 Kennedy Memorial Drive, St. Bonifacius, MN.
The purpose of the hearing is to consider adoption of a City Code Amendment relating to Banner signs (13-3.3).
Such persons as desire to be heard with reference to the amendment will be heard at this meeting.
By Order of the City Council
Brenda Fisk
Administrator/CityClerk/
Treasurer
(Published in The Waconia Patriot July 2, 2015)

414835 07/02/15 Banner Signs PHN

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CUP McCabe http://sunpatriot.com/2015/07/02/cup-mccabe/ http://sunpatriot.com/2015/07/02/cup-mccabe/#comments Thu, 02 Jul 2015 11:26:18 +0000 http://sunpatriot.com/?p=54261 PUBLIC HEARING NOTICE
NOTICE IS HEREBY GIVEN, That the City Council of St. Bonifacius will hold a Public Hearing on July 15, 2015 at 6:30 P.M. in the Council Chambers at 8535 Kennedy Memorial Drive, St. Bonifacius, MN.
The purpose of the hearing is to consider a Conditional use Permit application submitted by Kyle McCabe. The Council will review a C.U.P. to allow auto repair at 8750 Highway 7 in the Mixed Use Business Industrial District (MU-BI).
PIN 32-117-24-23-0001
Such persons as desire to be heard with reference to the proposed C.U.P. will be heard at this meeting.
By Order of the City Council
Brenda Fisk Administrator/Clerk/Treasurer
(Published in The Waconia Patriot July 2, 2015)

414834 07/02/15 CUP McCabe PHN

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PHN – CITY CODE: http://sunpatriot.com/2015/07/02/phn-city-code/ http://sunpatriot.com/2015/07/02/phn-city-code/#comments Thu, 02 Jul 2015 11:24:49 +0000 http://sunpatriot.com/?p=54259 Notice of Public Hearing
City Code Amendment:
Nuisances
Notice is hereby given that the NYA City Council will conduct a public hearing on Monday, July 13, 2015 at 6:30 PM or soon thereafter, in the Council Chambers at Oak Grove City Center, 310 Elm St. W.
The purpose of this hearing is to consider an Ordinance amending the text of Chapter 6 of the City Code relating to nuisances. The proposed Ordinance prohibits nuisances. The proposed Ordinance specifically defines nuisances under general headings of nuisances affecting health, nuisances affecting morals and decency, and nuisances affecting peace and safety. The Ordinance provides for abatement procedures, procedures to recover City costs associated with nuisance abatement, and penalties for nuisance violations.
The proposed ordinance is available for review at City Hall between the hours of 8-4:30, Monday through Friday. If you have any questions regarding this matter or wish to make comment prior to the hearing, please contact the City Office at 467-1800 or in writing to: City of Norwood Young America, 310 Elm St. W., PO Box 59, NYA, MN 55368, by no later than noon on Monday, July 13th.
BY: Norwood Young America
City Council
ATTEST:
Steve Helget, City of NYA

7/2/15, 3NYA, PHN
City Code: Nuisances, 413420

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