Jeff Yastine, an Emmy-nominated financial journalist, has built a career on tracking down interesting financial stories and confirming what exactly is going on with topics that are gaining traction in the news. He knows how to get to the bottom of things, and his research is well-respected, so people who are familiar with Mr. Yastine likely know he is a trusted source for accurately testing the merits of an investment.
Recently, this editor of “Total Wealth Insider” decided to pursue the topic of Kennedy Accounts. As a regular on the “Nightly Business Report,” he is well-known for his investigative merit, and in this many people have come to count on. As it turns out, When John F. Kennedy was running for office, the American economy was faltering. In an attempt to get it moving again, he created these accounts as part of his program to get money funneled back to companies in the form of investments. These were designed for people from all over the country, with a particular interest in galvanizing the individual investor. He wanted new money in the markets. Read more about Jeff Yastine at Bloomberg
This extremely esoteric IRS code, 852, allows individual investors to invest directly in a company, through a “Direct Stock Purchase Plan (DSPP).” Still today, there are over 400 companies that allow direct stock purchases, so this would lead anyone to wonder why more is not known about these accounts. Mr. Jeff Yastine uncovered that the reason more is not known is because the large financial firms that control Wall Street do not want this information disseminated in a widespread manner because it would cut them out of the picture.
A snippet of a private message from last week’s #TotalWealthInsider is in the article below.#GoldmanSachs #EarningSeasons #Profit #Gains #WallStreet #MarketRisks #InterestRates #NASDAQ #CNBC #BullMarket #Trading #Investing #Stocks #BanyanHillPublishinghttps://t.co/9pxu8xc1li
— Jeff Yastine (@Jeff_Y_Guru) March 13, 2018
These stocks are bought directly through the company in question, sometimes offered at a discount to market, so the middleman can be cut out, as well as their commission. From the day these accounts were introduced, Wall Street concerns came out in full-force to lobby against them, and thereafter they were sort of relegated to the status of a kind of long-term secret.
This seems like a great idea, if one is to buy and hold the stock in question, but clearing these purchases on the sell-side, which means that the sales are being cleared by the firm the company uses to clear trades, or by the company itself. Mr. Yastine uncovered a true gem once again with confirming the existence of Kennedy Accounts and reminding investors they are indeed a viable way to invest. These are likely long-term, little-worry accounts, which a lot of investors would likely find interesting. Check this Link: https://www.investmentu.com/investment-experts/jeff-yastine