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Fiat and Counterfeit

January 2017 Insight

As anyone who has been involved in running a small business can attest, each January can be quite a whirlwind of activity trying to get W-2s, 1099s, business licenses, etc. out the door in the time prescribed by statute. Oh, there is also getting the books closed and to the tax accountants for tax preparation. And in 2017 for the first time all business taxes have to be filed by March 15 instead of the old norm of April 15th. For our particular business, January also includes investor distributions and annual loan documentation. For twenty different entities (and counting). Needless to say, January is a busy month. With that in mind I hope you will forgive me for not providing any original content this month.

Instead I am sharing an article written by Ben Hunt. Ben Hunt is the Chief Investment Strategist for Salient Partners, an asset management fund based in New York. He is also the author of Epsilon Theory, which I have quoted the Insight before. You can sign up for Epsilon Theory for free by clicking here.

I am forwarding this particular edition of Epsilon Theory due to its timeliness around the current furor over “fake” news. Mr. Hunt distinguishes fake news into two more defined classes, “fiat” news and “counterfeit” news. Yes, like money. The attached is not short, but it is full of pictures, easy to read, and full of fun contemporary references. Enjoy!

Happy Investing.

About the Author: Forrest Jinks is CEO of Altus Equity Group Inc and a licensed real estate broker. Forrest has decades of experience as principal in a variety of alternative investment segments including real estate (residential rehab, in-fill development, multi-family, office and retail), debt, and small business start-up (online marketing and site retail). He can be reached at


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