Jeff Yastine is an accomplished financial journalist who is perhaps best known for his work on The Nightly Business Report for PBS where he received an Emmy nomination for his investigative journalism on America’s underfunded road system. He has a bachelor’s degree in journalism and has gained significant experience over his career in the finance industry. Today he works for Banyan Hill Publishing Company, one of the world’s leading publishers on investment and financial advice columns. He is the editor for Total Wealth Insider as well as a regular contributor to several other of the company’s publications. Over his career, he has had the opportunity to interview several of the world’s leading finance industry figures including individuals such as Sir Richard Branson, Michael Dell, Warren Buffett, and Steve Forbes. Follow Jeff Yastine on stocktwits.com.
He has recently gained a new level of notoriety after releasing his viral video in which he discusses a unique investment opportunity that he refers to as Kennedy Accounts. While Jeff Yastine is credited with the invention of the term Kennedy Accounts the investment opportunities to which he is referring whenever he speaks of them are a true investment opportunity. Kennedy Accounts refer to Direct Stock Purchase Plans an investment vehicle that was introduced in the American economy under the administration of John F. Kennedy.
At the time of Kennedy’s election in the American economy had a few indicators of economic difficulty. The American economy had had a flat GDP for quite some time in addition to a rising level of unemployment and a declining stock market. Kennedy realized that in order to combat the stagnant growth of the American economy he would need to introduce legislation that would incentivize the participation of average American investors in the stock market. To accomplish this goal, Kennedy introduced a piece of legislation to the tax code. This legislation is known as IRS code 852 and allowed Direct Stock Purchase Plans from companies in America. Direct Stock Purchase Plans allow individuals to purchase stock directly from the company itself instead of using a stockbroker as is typical in the conventional stock market. By eliminating the need for a broker, individuals are able to purchase stock without paying a hefty commission that Wall Street typically charges. In addition to saving money on commissions in most cases, companies that participate in Direct Stock Purchase Plans will sell their stocks at a discount of up to 5% individuals purchase stock directly from the company. Read this article at Forexvestor.com.