The Lowry Letter®

Week of 1/27/2022

This week sees more market turbulence. For some perspective on the current situation, Brad McMillan has recent posts that provide clarity.

We often say that your personal economy is even more important than the real economy. In other words, your needs should define your investment proposal, rather than them being designed by external factors. This continues to be true during market corrections and other periods of uncertainty.

The IRS is urging caution in the use of cryptocurrency and non-fungible tokens (NFTs). They can be a new source of financial fraud and other crimes*.

The Ukraine is in grave danger of renewed Russian aggression. Economic issues are one reason for its vulnerability.

Been waiting for a flying car? It’s almost time.

For $625 you can have a pair of Crocs high heels. We know fashion is a matter of taste, but this seems a bad use of resources.

Are there no old ugly buildings, or did only the pretty ones survive?

*This article is intended strictly for educational purposes only and is not a recommendation for or against cryptocurrency

In lieu of “Ask the Joes®” an item of business:

You may have recently received a Notice of Class Action Settlement regarding Plaid, Inc., the firm that links outside assets to your Investor360° account.

There was no security breach and none of your account data has been compromised. You do not need to change your login credentials at any of your financial institutions. In addition, none of the alleged actions occurred with your accounts in Investor360°. When you link outside accounts, Plaid is transparent about how it collects and uses the data you authorize it to access.

The settlement is in response to a lawsuit filed against Plaid that alleges it misled consumers and obtained more financial data than was authorized for some of Plaid’s other services. Investor360° has never used these services. You are, however, still eligible to take part in the settlement.

Under the proposed settlement, Plaid will pay $58 million into a settlement fund. If you wish to take part, you may do so by filing a claim. Your claim must be filed by April 28, 2022. You may also request to be excluded from or make objections to the settlement. For more information, important dates, and answers to frequently asked questions, please visit www.plaidsettlement.com.

Commonwealth Financial Network^®, the firm I partner with to better serve you, was unaware of the allegations prior to the lawsuit. The firm takes its privacy and confidentiality practices seriously and has been assured there are no security concerns related to this matter. To learn more about how Commonwealth collects, stores, uses, discloses, and protects your personal data, please review its Online Privacy Policy.

If you have any questions or need help filing a claim, we’re here to help however we can. Please feel free to call us at 352-333-7990 if you’d like to discuss this matter further or have questions about your portfolio, Investor360°, or your external assets and account aggregation.