Now a joint publication of the FJMC and MRJ

 Issue #38 -  December 27, 2016

We would like to thank our sponsor RCA, Retirement Corporation of America. They have graciously been our primary sponsor for the last 2 years.

HEALTH TIP

"If I knew I was going to live this long I would have taken better care of my body" Satchel Page

Colorectal Cancer Screening

Cancer of the colon or rectum is the third leading cause of cancer related deaths in the United States.  The risk is equal in men and women and is most common after the age of 50 (although it may occur at younger ages).  When detected early it is treatable and usually curable.  If detected late, it is often lethal. 

Most colorectal cancers develop from abnormal growths in the colon called polyps. If the polyps are not detected and removed, they may, in time, develop into cancers.

There a number of tests available to screen for colon polyps and cancer. These include a colonoscopy every 10 years, an annual fecal immunochemical test (FIT) to detect hidden blood in the stool, CT colonography (virtual colonoscopy) every 5 years, and fecal DNA testing every 3 years.  Of these techniques, colonoscopy is the most accurate, has the advantage of being able to remove any polyps that are found during the procedure, and the ability to biopsy any suspicious areas in the colon.

Although colonoscopies are recommended every 10 years starting at age 50, there are people who should have the exam more frequently and starting at a younger age. These include those who have a close family member who has had colon cancer,  those who themselves have previously had colon cancer or colon polyps, those who have other diseases known to increase the risk of colon cancer such as ulcerative colitis or Crohn’s disease, and those with a known genetic predisposition to acquiring the disease. 

The advent of colonoscopy has made colorectal cancer an entirely preventable disease.  The discomfort of the procedure is negligible, and there is no excuse for anyone to not have colonoscopies performed beginning at age 50.  So make an appointment to see your local gastroenterologist and schedule a screening colonoscopy.

This article was provided by one of FJMC’s most valued members and health care professional.  We want to thank Dr Joel Kurtz from Toms River, New Jersey for his expertise and for being part of our health care team.

In our new format we have formed a great team of Doctors and Psychologists to give you the best possible healthtips in terms you can understand.  Our new team consists of our new Co-Medical Editor - Dr. Steve Mandel Pediatric Neurologist, Dr. Seth Cohen, Dr. Joel Kurtz, Gastroenterologist; Dr. Mitchell Ross, Cardiologist; Dr. Dale Levy, Thoracic Surgeon; Dr. Gary Katz, Psychologist; Dr. Bob Braitman, Pediatrician; Elliot Feldman, CEO low vision occupational Therapy Clinic; and Elisabeth Mandel, Licensed Marriage and Family therapist.

For questions please email the editors Richard Gray rwgray1@gmail.com, Gary Smith DVM gsmith@fjmc.org, or Dr. Steve Mandel- drmandel1979@aol.com

WEALTH TIP

"Never Take Advantage of Loyalty" - Unknown

Most of what is written in this article came from Dan Ferris and Mike Barrett, two of the editors for Stansberry Associates newsletters. This came from a talk in Las Vegas at the Stansberry Conference and Alliance meeting.

Six skills without which you cannot succeed in the financial markets

1. Be Truthful with yourself - The example Dan uses is Ryan Lochte, the Olympic swimmer who lost a $100,000 bonus and is barred from competition for three years. Had he told the truth the course of his life would have changed. For investors, if you are not true to yourself it means if you do not have the temperament to manage your own investments and you need to find a professional.
2. Decide what you are - Decide what type of investor you are - how much risk you are willing to take?  Decide what type of investor you want to be. A value investor, long term investor, risk taker, day trader…  Most important have a plan - study it, get advice, read a lot and stick to it.

The next three are mental disciplines that you should try to master   

3. Learn how to think long term - It does not matter whether you are a long term investor or value investor or day trader you need to think long term. By thinking long term you do not get pulled by market tops and bottoms. This is where most individual investors make their biggest mistakes. Investors must understand the power of compounding for long term portfolio and retirement success.
4. Learn negative thinking - Recognizing what we do wrong when we invest is not easy but it is simple. You will be a much better investor if you spend more time on what you are doing wrong than trying to confirm that you are right. Warren Buffet’s thinking confirms this: #1 rule of investing is do not lose money.  #2 rule is never forget rule #1.  I believe I have forgotten this from time to time. When I do I almost always loose on my investment.  “We will be much better investors if we try not being stupid when we invest”. Charlie Munger stated this. He is now CEO of Berkshire Hathaway.  George Soros stated “I am always wrong, I am always wrong, I am always wrong, and I try to correct this”.  Finally, Ray Dallo of Bridgewater Associates said “It is very important for most people to know when not to make a bet.  My biggest advantage is not what I know. Its that I know I do not know a lot.” 

Nassim Taleb said “Knowledge compounds over time.  But in order to compound you must subtract what is wrong.  The learning of life is to know what to avoid.”

5. Approach investing as a business – “The minute you decide to manage your own money you decide to own a business.” Ben Graham said to embrace your four business-like principles.

1. Know your business
2. Run your business
3. Make sure the odds favor a profit over the long term
4. Have the courage of your knowledge and experience

The last point brings us full circle.

6. No matter how much research you do, you'll always reach a point when you must pluck up your courage and buy or sell that stock, bond, option... whatever you're doing. 

You can't be a successful investor without the courage of your knowledge and experience. False bravado won't cut it either. You must base your courage on what you've learned. And no matter what the original source for your ideas, you had better do the necessary work to own them intellectually and emotionally before you buy. Investing is like breathing. No one can do it for you. 

Email sent at approximately 11:30 pm, December 27, 2016
 

LEGAL DISCLAIMER: This work is based on current events, interviews, corporate press releases, and what we've learned from several mentioned health and wealth newsletters. It is also based on some personal experiences. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility. FJMC is not making specific recomendations of stocks or bonds just possible ideas that might be considered for research and investing purposes. This information is being provided for informational purposes only.

FJMC - Federation of Jewish Men's Clubs - Involving Jewish Men in Jewish Life.  The FJMC involves Jewish Men in Jewish Life through Leadership   Innovation   Community