The way you react performs massive position in cash choices

I e-mailed some friends and colleagues a tweet I saw comparing European and American out of office replies. The European response was: “I’m away camping for summer. Please e-mail back in September.” The American version: “I have left the office for two hours to undergo kidney surgery, but you can reach me on my cell anytime.” I thought this was funny, not descriptive, but based on the responses I got, it turned out to be instructive.

We don’t see things as they are, we see things as we are. Therefore, financial planning cannot be meaningfully done by algorithm. Who you are is a cocktail of values you developed over time, messages you received growing up, your DNA, the relationships you have or desire.

While some people sent back the typical “Ha Ha” response to my e-mail, others took deeper dives. Where do you fit?

A colleague wondered, what if we wanted to have more of a European approach, but a client wanted us to respond while we were in the recovery unit? This question isn’t about business; it is about how we manage our anxiety in relationship to that of those with whom we are dealing. In most couples with whom we work, one person is more anxious than the other. Anxious-to-anxious responses lead to reacting rather than contemplating. This results inquick decisions that often hurt your financial and personal well-being. But calm-to-anxious doesn’t work. The anxious partner feels alone in their fears. The other partner needs to move toward the anxiety first to validate those feelings before coming up with ideas to manage (not remove) those feelings. Creating money agreements before chaos ensues helps. For example, if the market is falling, determine in advance to rebalance rather than sell.

A couple of other people wrote back saying that they would not want to have the European approach. That misses the point. Neither the European nor the U.S. response is more legitimate. Many of us move to the extremes in our planning because it feels more controllable. We want conviction, yet almost all financial decisions are more good than bad, rather than right or wrong.Money choices are experiments; information that disproves our thesis isn’t failure, it is useful information. Money is not like being on the operating table facing life or death. Don’t make money stakes greater than they are. If you disagree with anything I have written, please e-mail me in September when I am back from camping!

Spend your life wisely.

Ross Levin is the chief executive & founder of Accredited Investors Wealth Management in Edina. E-mail:

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‘Strain from management’: Slater docs declare cash influenced previous medical choices

PROVIDENCE, RI (WPRI) – Top Doctors at Eleanor Slater Hospital claim previous administrations have pressured doctors to ensure the state facility had more medical patients than psychiatric patients to question the facility for millions of dollars in federal funding to deliver.

The new revelation came to light during a Senate Oversight Committee hearing Monday when lawmakers satiated hospital managers with questions related to Eleanor Slater’s many ongoing problems. Chief Medical Officer Dr. Brian Daly testified that over the past few months he has realized how money has affected the way some patients have been diagnosed, admitted, and treated in the hospital in the past.

“That was pressure from the leadership,” Daly told lawmakers. “When I got here, I was a little stunned by the patients who were here and that there was no effort to get them discharged. Since I came from other hospitals, that was pretty shocking. ”

At the heart of the problem is an obscure federal regulation known as Mental Illness Institutions, or IMD, that was launched in the 1960s to keep psychiatric patients out of government facilities.

Fast forward half a century and the rule has been nuanced, its effectiveness being hotly contested in the public and private health sectors. But in simple terms, Eleanor Slater cannot have more psychiatric patients than medical patients if she continues to be eligible for government reimbursement through the U.S. Centers for Medicare and Medicaid Services (CMS).

Tens of millions of dollars in government support are at stake, giving state officials a clear financial incentive to accurately manage patient counts so that psychiatric patients never exceed medical patients.

The head of the medical service, Dr. Andrew Stone, who works closely with Daly, put the historical thinking about Eleanor Slater patients more bluntly: “Medical patients are equally valuable; The mentally ill are not valuable. “

Daly said the potential for a loss of federal funding in the past was clearly in the minds of hospital management, claiming his team found evidence that previous protocols were tampered with to promote medical admissions and prevent medical discharges. Daly even claimed that in some cases, patients’ diagnoses were changed – all to make sure federal funding didn’t stop.

“We found a lot of information that there have been efforts in the past to make sure the odds were always in favor of medicine, but only just barely,” he said. “All we saw was keeping the IMD mix in a good place.”

In a specific example, Daly said that Eleanor Slater moved about 20 psychiatric patients to Notre-Dame de Fatima Hospital in 2016 after the latter set up a long-term behavioral clinic. The reason? “Because the IMD mix was in trouble,” he said.

“Everyone knows that we moved patients there in 2016,” said Daly. “I think I have emails that the IMD mix was wrong or in danger.”

The blatant description of how patients were treated for financial reasons aroused surprise and disbelief among some legislators. The chairman of the oversight committee, Louis DiPalma, D-Middletown, described Daly’s testimony as “worrying”.

State Senator Jessica de la Cruz, R-North Smithfield, described the claims as “quite shocking” before challenging doctors on some of the underlying details.

“Essentially, your allegation about these patients being held is, I’m not saying against their will – but almost there,” she said. “That sounds shameful to me.”

State Sen. Jonathan Acosta, D-Central Falls, said it was hard to deny that the IMD requirements created a financial incentive regardless of whether people acted on them. He also said there was widespread agreement within the General Assembly on the desire for “accountability” in the state institution, which has been under intense public scrutiny in recent months.

“People want a couple of heads to roll,” he said.

Billing remains one of the many problems that currently plague Eleanor Slater, with the IMD mix that got out of hand over the past 18 months has been a major problem. In 2019, Rhode Island suspended CMS billing after concerns were raised that the hospital incorrectly had more medical patients than psychiatric patients.

Billing has yet to proceed, and the ruling has since cost the state more than $ 100 million in general revenue to pay for hospital expenses, once covered by CMS.

Hospital managers – including Daly and Stone – released a new report last month showing that 79% of the hospital’s patients are now considered psychiatric patients, a sharp increase from December when the mix was around 50:50.

While the new report further complicates the question of whether the state is eligible for federal funding, Daly said it reflects much more accurately the actual diagnoses of patients in the hospital. The analysis is now under external control.

The RI State Medicaid Office and the RI Executive Office of Health and Human Services hired a team from Butler Hospital to conduct an independent review of how many beds are occupied by patients with mental illness as the primary diagnosis. The results of this review are expected to be available by the end of July.

When asked by Acosta whether the hospital would be financially viable without federal support, Daly stressed that the General Assembly and Governor Dan McKee could always fund a state hospital entirely from state funds. However, he found that Eleanor Slater’s surgery currently costs more than $ 500,000 per patient per year.

“When the money goes away it’s difficult to know how to go on,” said Daly. “It’s an expensive offer.”

Eli Sherman ( is a Target 12 investigative reporter for WPRI 12. Connect with him on twitter and on Facebook

How local weather change is impacting millennials’ cash choices

When Millennials turned 40 in 2021, CNBC Make It was launched Medieval millennialsA series that examines how the oldest members of this generation grew up against the backdrop of the Great Recession and the Covid-19 pandemic, student loans, stagnating wages and the rising cost of living.

About five years ago, unsatisfied with the life they had spent “chasing the dollar”, Kelli and Charlie Compton quit their jobs as salon owners and managers at an equipment rental in North Carolina, sold most of their belongings, and set off the open road in an Airstream trailer.

Kelli, 35) and Charlie, 36, who work as seasonal camping hosts in locations in California, Colorado, Utah, Wyoming, and other states, have come to understand how climate change is disrupting various types of ecosystems and habitats in California The past few years and the Rocky Mountain National Park area in 2020 have been particularly devastating to them, according to Kelli, and have “brought climate change to the fore”.

As a result, they are doing as much as possible to minimize their carbon footprint, Kelli told CNBC Make It. This includes cooking most meals, wearing clothes, and using a composting toilet that doesn’t require water to flush in her 30 foot trailer. The couple decided not to have children due to climatic reasons. “The earth groans,” she says.

They’re making significantly less money now – they raised around $ 40,000 last year compared to $ 150,000 in their previous life, Kelli says – but they’re happier, healthier, and comfortable on their new income because of you current lifestyle requires less of everything. The couple originally intended to be out for a year. Now they have no intention of going back.

“We didn’t necessarily get into this lifestyle because we wanted to be responsible citizens of the world,” she says. “But now, when we look at our carbon footprint, we can really be proud of it.”

Kelli Compton, 35, stands in her Airstream RV in Wyoming.

Courtesy of Kelli Compton

The Comptons are an extreme example – few people are willing to reshape their entire lives to reduce their carbon footprint – but experts say that climate change increasingly affects millennials’ financial decisions as they move into middle age approach.

Around 76% of older millennials between the ages of 33 and 40 believe that climate change is a serious threat to society. This is based on a survey The Harris Poll conducted in March on behalf of CNBC Make It, in which 1,000 US adults were asked about various topics.

Many members of the generation grew up watching Climate change as an existential threatto worry about something global sea level riseand give testimony an ecological disaster Successively. Now that they are settling into careers and family life, climate concerns are affecting how they spend their money, from investing to buying homes to the products they use and the companies that support them.

Carrying a “transitional burden”

Climate change is a hot topic Millennials are considering when to choose investments or buy real estate, says Dann Ryan, a certified financial planner at Real advice in New York City advising millennial clients. It can affect small habits, such as consume less or Prefer sustainable brandsand big life choices like whether to have children or not, he says.

At 35, Ryan is an older millennial himself and says he and other members of his generation are doubling sustainability “because we have to”.

Ryan describes millennials as a “transitional burden” between the unsustainable habits of baby boomers and Gen X, such as increased consumption, and the more socially and environmentally conscious Gen Z. Older millennials believe they have to atone for the mistakes of previous generations while saying the Pointing the way for the next generation and creating a sustainable future for you and your children.

My customers come from humble backgrounds and feel this burden from their newly gained wealth. You feel obliged to do something with it for society.

Then Ryan

certified financial planner

“My clients come from humble backgrounds and feel the strain from their newfound wealth,” says Ryan. “They feel obliged to do something with it for society,” for example investing in companies that take measures to reduce their environmental impact.

Jovan Johnson, Certified Financial Planner at Piece of wealth planning in Atlanta, agrees. His millennial customers are particularly interested in sustainable investments, solar power for their homes, and even tax credits for electric cars, he says. These issues are less of a concern with older customers approaching retirement.

“Younger customers want to make a difference,” says Johnson. They seem to feel more acutely than older generations that what they do affects their children and grandchildren, he adds.

And now that more millennials are parents, Johnson says they’re thinking more about the future. That makes all of their financial decisions more weighty: it seems like the way they spend their money is an indication of what the future of the planet should look like. “People realize that their dollars make a difference,” says Johnson.

The concern for these issues is “more of.” [millennials’] Legacy than other generations, “added Harlin Singh, director of sustainable investments at Citi Private Bank, on both a moral and practical level Insurance costs to Food and energy pricesClimate change is already affecting certain aspects of millennial lives, says Singh.

“The reality is that millennials are 40 years old and will be here for 40 to 60 years. They are always concerned about what is going on in your life,” says Singh. Millennials expect this to happen financial impact of climate change events like rising sea levels in their lifetimes.

Kelli Compton doesn’t indulge anyone who makes more traditional career and housing choices. The Airstream lifestyle is not for everyone. At the same time, there are simple things that everyone can do to reduce their carbon footprint, such as buying fewer new things overall. And in her experience, at least, these changes made her and her husband happier overall.

“Does my only composting toilet change the world? No, it doesn’t. Do I feel like I need to make changes where I can? I do,” she says. “Making less money and living on a smaller carbon footprint is a solution for our family.”

CNBC Make It will publish more stories about student loan, employment, wealth, diversity and health in the Millennials of the Middle Ages series. If you are an older millennial (ages 33 to 40), sHare your story with us for a chance to be featured in a future episode.

Join Now: Familiarize yourself with your money and career with our weekly newsletter

Check out: Meet the Middle Aged Millennial: Homeowners, In Debt, and 40 Years Old

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3 trading stocks at rock bottom; Analysts say “buy”

Investing is all about profits, and part of generating profit is knowing when to start the game. The old saying goes that one should buy cheap and sell high, and while it is tempting to simply devalue such clichés, they have passed into the common currency because they embody a fundamental truth. Buying low is always a good place to start when building a portfolio. The trick, however, is to identify the right stocks to buy cheap. Prices fall for a reason, and sometimes that reason is a fundamental obscurity. Fortunately, Wall Streets analysts are busy separating the chaff among the market’s cheap stocks, and some top stock pundits have flagged multiple stocks for big gains. We used the TipRanks database to pull up the data and ratings for three stocks that are currently cheap but may be looking to make a profit. They have received positive reviews and, despite their stock devaluation, hold buy ratings and have an upside potential of over 80%. Vapotherm, Inc. (VAPO) First off, Vapotherm is a medical device manufacturer specializing in high flow, heated, humidified nasal cannulas. These are therapeutic breathing aids with which oxygen-containing air can be delivered directly to the patient’s nose. By heating and humidifying the air, the unpleasant release of dry oxygen is reduced. As expected, Vapotherm has seen heavy sales during a respiratory disease pandemic in recent months – but its share price has been pulling back since early February. Paradoxically, the two events are related. First, Vapotherm’s financial results for the first quarter of 21 were positive. The company’s revenue increased 69% year over year to $ 32.3 million, and Precision Flow base unit installations worldwide increased 73% over the same period. The company’s net loss for the quarter of $ 5.2 million was an improvement on a loss of $ 10.2 million for the year-ago quarter. On the negative side, VAPO shares have fallen from their high in early February. The decline is substantial; The stock has fallen 50% since its peak and is down 34% since the start of the year. The decline in the stock’s value reflects concerns that the company’s flagship is oversold and that customers have bought more equipment than would be needed in normal times for fear of COVID-related respiratory distress. Such is the case of Piper Sandler analyst Jason Bednar. “Stocks have fared significantly worse since early February as many investors questioned the bolus usage dynamics from Precision Flow systems sold to hospitals last year. We understand the logic here, especially for investors with a shorter time horizon, but with a lot of that concern is apparently already being reflected in the stock at current levels. We believe the upside opportunity far outweighs the risk of further downtrend, ”commented Bednar. The analyst added, “We also believe that investors waiting for occupancy trends to bottom out will ultimately miss an initial surge that could occur if HVT 2.0 makes a contribution with a rollout later this year and the market for HVT 2.0 expands to take a clearer shape in 2022 (especially EMS and home care). “To that end, Bednar rates VAPO as overweight (i.e. buy) and its target price of $ 32 implies a robust uptrend of 81% im next year. (To see Bednar’s track record, click here.) Overall, Strong Buy’s unanimous consensus rating for this stock, backed by 4 recent analyst reviews, makes it clear that Bednar is not alone in its bullish view. The average price target here, USD 39, is even more optimistic and indicates an upward movement of ~ 122% from the current trading price of USD 17.65. (See VAPO stock analysis on TipRanks) Emergent Biosolutions (EBS) The next stock we look at, Emergent, is a biopharmaceutical company. The company has several products on the market, including a NARCAN nasal spray for use in patients with opioid overdose and vaccines for smallpox, anthrax and other diseases. Emergent’s development pipeline includes the pediatric cholera vaccine Vaxchora, which is currently in a Phase III study. Several programs, including an anthrax vaccine candidate, a chikungunya vaccine, and a seasonal flu shot, have completed Phase II and are preparing for Phase III. One of Emergent’s key programs is the contract development and manufacturing service, which is being extended to other pharmaceutical companies to manufacture vaccines they have developed. Emergent is part of Johnson & Johnson’s production chain for a COVID-19 vaccine as part of a CDMO plan. The latter is an important point. The J&J vaccine has been linked, at least in some reports, to serious adverse events, particularly blood clots in otherwise healthy recipients. This has resulted in a delay in the manufacture of the vaccine and, consequently, a delay in receiving payments from J&J. This in turn impacted the company’s financials in Q1 21, resulting in lower than expected sales and earnings. Investors are concerned, and the stock is down 33% since the start of the year. Despite the setback, benchmark analyst Robert Wasserman retains a buy rating for EBS shares and a price target of $ 120. If this is correct, the analyst’s target could be an annual return of 101%. (To see Wasserman’s track record, click here.) “EBS remains solidly profitable and, despite lowered expectations for J&N and AZ vaccine deals, expect solid sales growth this year. These stocks remain a bargain on our CDMO / Bioprocessing and could offer value investors a significant upward trend if circumstances change or new business can be made at short notice, “said Wasserman. Overall, the street currently has a cautiously bullish outlook for the stock. The analyst consensus rates EBS as a moderate buy based on 3 buys and 2 holds. The stock is priced at $ 59.59, and the average target price of $ 89.67 suggests upside potential of ~ 50% over the next 12 months. (See EBS stock analysis at TipRanks) Haemonetics Corporation (HAE) For the last stock on our list, we stick with the medical industry. Haemonetics manufactures a range of blood and plasma collection and separation products, software for machine operation and service contracts for maintenance. In short, Haemonetics is a single point of contact for blood donation centers and hospital blood banks. Blood products are a $ 10.5 billion market in the US alone, accounting for 80% of plasma, and Haemonetics has become an integral part of that business. Haemonetics steadily recovered from a decline in sales at the height of the corona crisis, and third quarter fiscal 2021 earnings showed solid results: sales of $ 240 million and earnings per share of 62 cents. While sales fell 7.3% year over year, earnings per share rose 6.8%. Even so, the stock fell sharply between April 15 and April 20, losing 42% of its value in that short time. The reason was simple. One of Haemonetics’ largest customers, CSL Pharma, announced that it has no plans to renew its contract with HAE. This contract for the supply, use and maintenance of Haemonetics’ PCS2 plasma collection system was valued at US $ 117 million and represented approximately 12% of the company’s sales. The cancellation comes with a one-time charge of $ 32 million for other related losses. Fortunately for HAE, the CSL contract doesn’t expire until June 2022, so the company has time to plan and prepare. Analyst David Turkaly reported on JMP Securities: “The announcement gives HAE some time (~ 15 months) to prepare for the expiry and we find that management is consistently strengthening its financial position through levers such as complexity reduction and product has optimization to make significant cost savings, and more of these will likely be used up-front to make up for customer loss. The analyst continued, “While this disappointing decision could affect HAE’s plasma positioning with other fractionators, we continue to believe that giving customers the ability to collect more plasma in less time – and having HAE is a very compelling value proposition.” still contracts and maintains a significant market. Share with many of the major plasma players. ”Accordingly, Turkaly rates HAE as outperforming (ie buying) with a target price of $ 110. This number implies an upward movement of 86% from the current level. (To see Turkaly’s track record, click here.) Overall, HAE has a consensus rating for moderate buying, based on 7 ratings breaking down 5 to 2 in favor of buying across the holds. The stock trades for $ 59.02 and has an average target price of $ 108.67, which is an uptrend of ~ 84% for a year. (See HAE stock analysis at TipRanks.) To find great ideas for trading stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.