Rick's investment opinion newsletter.
For years before the conception of Longsplice Investments, this newsletter was the outlet for my professional interest in investing.
Now that the mutual fund is the main focus, the newsletter will remain, but as my personal opinion vehicle, and will keep the same time-honored name.
The March 2013 newsletter just went out by email. If you're signed up to receive it, you should have it by now.
If you're not on the mailing list and would like to be, you can subscribe here .
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Personal Financial Health Checkup: Check your Credit Report
You really ought to check your Credit Report regularly. Identity theft is accelerating, and spotting something fishy in your report, like an account you don't remember opening, may allow you to catch a problem while it's small. Also, if you may need a loan someday, the time to clear up any credit-history errors is now, not at the last minute.
Three independent companies called the Credit Rating Agencies track whether you've been a responsible borrower, in order to predict whether you'll be a good risk for a new loan. They do this with information from all your past creditors, and their business is to sell the summary info-- not the raw data-- to potential lenders.
These agencies are in a privileged spot, seeing your non-public information and passing judgment on what they see in order to tell their customers whether you're a minimal risk or a probable problem. This privileged spot has prompted a measure of government regulation: there are limits to what information they can give out, and to whom. More important, they are required to let you check on the information they have, and correct it if it's wrong. To check it, you need to ask one of the agencies for a copy of your Credit Report.
The report contains a list of all the loans, credit cards, revolving charge accounts, etc., that you've had in the last decade or two. Even the accounts that have been closed are listed. For each account, it lists your credit limit, maximum balance, and payment history. In particular, they'll make a big fuss if you had significantly late payments.
It's free, once per year per credit agency, to get a copy of your report. Since there are three agencies, that means that you can go to one agency every four months to sample the freshest data. Here are the step-by-step instructions for visiting each agency. The steps change from time to time, but these were accurate during my most recent visits during the past year.
print this paper form and mail it to the intended agency.
A collection of fine industrial Boilerplate, but true:
Nothing in this e-mail should be considered personalized investment advice.
Although I may answer your general questions, I am not licensed under securities laws to address your particular investment situation. No communication from me to you should be deemed as personalized investment advice.
Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.
The information and opinions herein are for general information use only. I do not guarantee their accuracy or completeness, nor do I assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice, are for general information only and are not intended as an offer or solicitation with respect to the purchase or sales of any security or as personalized investment advice.
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