S.
Branch Banks down there, and others, but we were 4th rate pikers
compared with you.
Your letter does not say how long you will be on safari . . . but
rather indicates more than a year at the least. . .
Knowing more about U.S. finances than going around the world,
I'll talk a little about that. You must own a house in Alabama
and two in Virginia. That's too many houses by three to go off
and leave--especially if you don't know when you are coming back.
. . . If you can make a little profit now, or break even, or even
take a little loss, you'd better sell your houses. Rental
properties are no investment for women at any time, especially
now. Pay no attention to anyone who tells you to the contrary.
The odds are overwhelming. I think you have considerable U.S.
bonds. Bonds are rather poor property these days . . . because
the buying power of money is now depreciating far more rapidly
than the bond interest is bringing in--or more. Of course
everybody should diversify--I mean everybody whose working days
and moneymaking days are about over. Those out of business. . .
Time was when careful investors had about 40 to 50% bonds, 10 to
20% in cash, and say 40% in high grade stocks, common and
preferred.
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