Featured entries from our Journal

Details Are Part of Our Difference

Embracing the Evidence at Anheuser-Busch – Mid 1980s

529 Best Practices

David Booth on How to Choose an Advisor

The One Minute Audio Clip You Need to Hear

Author: Matt Hall

February Newsletter Intro

“The United States Postal Inspection Service is committed to protecting the nation’s mail system from criminal misuse. Pursuant to federal law, victims are entitled to certain rights, which include notification of the status of the investigation. This letter is to inform you that you have been identified as a possible victim of alleged mail theft.”

This is the opening statement of a letter I received in December 2023. The next day, I received a second letter from a USPS inspector that said:

“Postal Inspectors found evidence that your name, address, and other personally identifiable information was in the possession of a fraudster. We do not know how they initially obtained your information, only that they possessed it.

I believe you may be a victim of this scheme, and I need to speak with you.”

And sure enough, they were right. Someone, who is now in jail, stole mail that contained a check I had written and then used that information to make a new check with my signature that they successfully used to take more than $30,000 from one of my accounts.

Here is what I have learned from this terrible situation:

  • One of our custodial partners (Schwab) has our back. They have a team of people who work on the client’s behalf to make victims whole.
  • Check fraud is on the rise. A nationwide alert regarding a surge in check fraud schemes targeting the U.S. mail has been sounded. 
  • Even as fewer paper checks are circulating, check fraud is increasing—by 84% in 2022 alone. The alert (from FINCEN Financial Crimes Enforcement Center) focused on reports of fraudsters stealing checks from public USPS Collection Boxes, then changing the dollar amount and recipient. This scheme is sometimes combined with identity theft.
  • The Postal Inspection Service is working to secure these collection boxes further. 

What can we do to protect ourselves?

  1. Use an electronic payment method instead of a paper check (e.g., ACH) whenever possible. (MoneyLink), bill pay or, if needed, a wire).
  2. If you’re expecting a check for a significant dollar amount, request a direct deposit into your checking account versus a physical check in the mail.
  3. Take your mail into the post office versus dropping it into an outdoor USPS collection box. If you must use a collection box, drop it in before the final scheduled pickup to ensure it doesn’t sit in the box overnight when criminals target these boxes. Please note, even this is not a guarantee, as we have a client who was also a victim of check fraud after delivering a check inside the post office.
  4. Monitor your bank account online and verify check images to ensure all checks have been properly deposited.
  5. Consider signing up for the free USPS Informed Delivery service, which the post office uses to send you electronic previews of upcoming mail.
  6. Report any fraud and suspicious activity to us immediately.

I share this with you to be helpful, and I hope you find reassurance in knowing that there are systems in place should you become a victim of identity theft, mail fraud, and check fraud. My situation was remedied, and I’m thankful for the support and professionalism I have experienced with the USPS Inspection Service and Schwab’s fraud team.

If you have questions or want to talk, feel free to call, email, or try texting us, as mentioned in last month’s post here.

January Newsletter Intro

I had something else planned for my introduction to this month’s newsletter, but that will have to wait until February for reasons you’ll soon understand. 

As I’ve mentioned before, this newsletter is read by more than just our clients. We have 2,000 subscribers and a monthly open rate of 65 to 70 percent. This means every month, 1,400 people are taking a peek at what we share. But there weren’t 2,000 people in the beginning, or even 200. As some may have read in Odds On, we started Hill Investment Group with 0 clients. Rick and I made an agreement with our former firm that allowed us to talk with a small number of relationships, many of whom decided to join us.

One of those “founding” clients passed away recently, and I want to tell you about him. His name was George. 

George was a husband, a dad, a grandfather, a friend to many, a diehard North Carolina Tarheel basketball fan, an avid golfer, a former lawyer for the king of beers, a lover of his dog Maggie Mae, and someone who made a profound impact on Hill Investment Group. He also affected me, creating images and memories in my mind that will stay with me for the rest of my life.

Like most of us, George started as a very different investor. He was an old-school active investor, buying stocks and trading options and spending too much time and energy trying to outperform the market. All he got in return was too much stress and unsatisfying results. 

It took three meetings over six months to convince him to convert to an evidence-based approach. It didn’t hurt that his former employer, Anheuser-Busch, had switched to index funds in the mid-80s, so elements of that story helped push George a little closer to accepting our data-driven approach. Once he made the change, he never looked back and became a raving fan. 

When you had George on your side, he was an unstoppable force–the type to put his arm around you and emphatically introduce us by saying, “These are my guys. You should talk with them.” He suggested his family members work with us, neighbors, friends, golf partners, colleagues, and so on. Because he had both relationships and influence, people listened to him.

George approached everything he loved with that same enthusiasm. We once gave him a basketball signed by the coach of his favorite team. To make it perfect for him, we looked all over town for a plexiglass case to display the ball, then wrapped it and presented it as a special gift for all of his support. George tore open the paper, ripped the plexiglass apart, threw it all away, and carried the naked ball home. We tried to stop him and gather the plexiglass display case, but he didn’t want or need it. He blasted right through it and was on to his next adventure.

That was George’s typical speed. Once, he hollered at a golf marshal that play was too slow. The marshal calmly reminded George that he had just returned to St. Louis from Florida and may have forgotten to adjust his watch. The front nine had only taken two hours (right on time), not three. George laughed, saying, “Well, it felt long playing with these guys!”

Becoming a Hill Investment Group client gave George both peace of mind about his portfolio and more time to pursue the things he loved. He took trips worldwide, had a custom wooden boat crafted and named for his beloved wife, Joanie, and built a house on Martha’s Vineyard. Once the house was completed, he hosted a dinner to thank Hill Investment Group for helping make their dream home a reality. George’s generous toast at the dinner is still one of the highlights of my career. 

George embodied everything we hope for our clients and validated why we started this firm: to improve our clients’ lives. George said it best when he uttered a famous line in Hill Investment Group lore: “The only thing I fear now is a downhill, sidehill three-foot putt. My worries are different thanks to you all.”

In 2019, John Reagan and I took our spouses to visit George and Joan on Martha’s Vineyard (see photo). George created an itinerary that wore us out (and I’m 30 years younger). I slept like a baby on that trip. George did, too, on the final night. He took us to a private club—one he didn’t even belong to (except through an old reciprocal that had long expired)for a splendid dinner where we were treated like royalty. Afterward, we drank, told stories, laughed, and finally, he fell asleep in his chair with his dog at his side as I tried to keep my eyes open through the remainder of the documentary he had selected.

George lived a rich life. He made things happen. He used his influence for good. He created memories. He helped our firm. He took the long view and was proud of it.

I’m lucky to have known him.

Frugal vs. Independent

Morgan Housel does it again in this recent piece. We think you’ll like it for the same reasons we do which are several because it engages your mind, heart, and soul. Are you frugal, independent, or something else entirely? Is long-term investment success dependent more on knowledge or behavior? Either way, do you invest alone or with a trusted advisor? And possibly most importantly and challenging to do, answering the question for and about yourself, “What’s my relationship with money?” That answer will likely make answering the prior questions much easier; however, this keystone question is often unasked and unanswered because it’s so hard for most of us to confront because it gets to our deepest essence. Let us know if you’d like our help discovering your answer.

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Featured entries from our Journal

Details Are Part of Our Difference

Embracing the Evidence at Anheuser-Busch – Mid 1980s

529 Best Practices

David Booth on How to Choose an Advisor

The One Minute Audio Clip You Need to Hear

Hill Investment Group