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Dr. David Rabinov models a palm leaf hat and tie on a
1994 trip to Zanzibar, Tazania.
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Photograph by Joyce Rabinov
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World Traveler Translates Passions into Charitable Gifts
Over a lifetime of worldwide adventures, Dr. David Rabinov has collected much more than memories. Folk art from Iran, New Guinea, Ethiopia, Japan and
many other countries enlivens the spacious home he shares with Joyce, his wife of over 50 years. The couple has had much more time for travel since David retired from a successful radiology practice and they
moved from Rancho Palos Verdes to Leisure World in 1994.
Since then the couple has enjoyed Noh theater in Japan, shadow puppet performances in Bali, sleeping in castles and other historic sites in Britain and trekking
in the Himalayas, among many other adventures. With Joyce as trip planner (finding unusual destinations and landmarks to visit), they have nurtured their shared interests in art and education wherever they land.
Starting even before they hosted exchange students from Iran and Ethiopia, wanderlust has always been a Rabinov family affair. Their three daughters, one son
and six grandchildren (one adopted from Ukraine) are, in Dr. Rabinov's words, "forever traveling."
While Joyce prefers urbane entertainments such as film, theater, tennis and Bridge games,
David has enjoyed outdoor recreation since childhood. Growing up in small town Mokena, Illinois, he explored the nearby forest preserve—catching crayfish, splashing in swimming
holes and ice-skating on the frozen creek. His early connection to nature inspired him to take an active interest in the environment. In 1994, he founded Saddleback Kiwanis' Take Pride
Committee in Leisure World, which enlists volunteers to regularly pick up plastic bags and other trash along area roads and trails.
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One of Dr. Rabinov's favorite travel
souvenirs is a ballpoint pen given to him last year by a college coed in Rayen, Iran. In Farsi it reads, "Help preserve our national resources.
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Over the years Dr. Rabinov has explored Southern California's wilderness on frequent hikes in Los Angeles and Orange County. His introduction to Leisure World's
backyard came on a guided tour of Laguna Coast Wilderness Park's James Dilley Preserve shortly after the 1993 wildfire. The tour inspired him to designate Laguna Canyon Foundation, along with the Performing Arts Center
of Los Angeles and Saddleback Hospital's educational fund, as beneficiaries of the Rabinov IRA.
"We are thrilled to support education and the environment by contributing to these causes," he
says. "We also intend to continue with our third passion: traveling the world!"
Be a Warren Buffett: How to Remain Calm in a Turbulent Market
by David Duttenhofer
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Estate Planning & Gifts Committee member David
McLain Duttenhofer, CFP, is a "Fee Only" Registered Investment Advisor offering portfolio construction, asset management and retirement planning services to individuals, families and small
businesses. He lives and works in Laguna Beach.
Photograph by Steven Hall Studio
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How does Warren Buffett remain calm in turbulent markets? He understands not only stock market value but also the underlying worth of
a successful operating company. "In the short run, the market is a voting machine," Buffett has said. "In the long run, it's a weighing machine." During extended bear markets investors can benefit from the same
techniques winners like Buffet use to keep calm and sleep through the night. These include (1) letting value guide your buying decisions regarding purchasing fairly priced stocks from good companies; (2)
diversifying your stock portfolio; and (3) using bonds and money market accounts to reduce risk and stay within your risk tolerance.
Value
Like Warren Buffet, value investors seek securities with prices that are
relatively low in comparison to their intrinsic worth. While there is no universally accepted formula for determining a stock's intrinsic value, most value investors make this determination by analyzing a company's
fundamentals. Considerations include strong balance sheets and income statements, return on earnings, historical growth rates, return on assets, price to earnings (P/E) and price to book.
Diversification
If you own a portfolio of good companies and your holdings are diversified by size (large, mid-
and small cap), style (growth and value) and geography (U.S. and foreign), you have a good foundation for staying calm during turbulent times.
Risk Tolerance
Respect and know your risk tolerance. If you could take a 20% loss but wouldn't be able to
cope with a 45% loss, then your loss tolerance threshold would be about 25%. To keep a portfolio within this 25% comfort zone, it would have to contain approximately 40% in bond/cash holdings.
Bond/Cash Holdings
Bond/cash holdings help reduce risk and create a buying reserve in case the economy and
markets experience extended downturns. The greatest buying opportunities of the last 100 years have been at the bottom of the worst bear markets of 1921, 1933, 1949 and 1974. In all
of these cases, the market rose for an average of eight years after reaching the bottom, producing significant gains.
Heed Warren Buffet's example: Weather market turbulence by investing in quality companies,
diversifying, knowing and staying within your own risk tolerance level and keeping a bond/cash reserve to purchase carefully chosen stock when bargains develop.
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Note: Warren Buffett's stock holding company, Berkshire Hathaway (BERK-A,
priced at $139,400 on February 22, 2008), holds Warren Buffett's favorite companies. In the past 10 years, BERK was up 150% versus the S & P 500's 9.69% gain. Berkshire Hathaway's current bond/cash holdings
are 40%.In 2006, Buffett made history by announcing his plans to give 85% of his fortune (with an estimated value of over $40 billion) to the Bill and Melinda Gates Foundation and other charities.
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Fuschia Flowering Gooseberry and Lupine Photographs by Patricia Minassian
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Photograph by Andrew Castellano
Laguna Canyon Foundation
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Help Us Grow! Join the Acorn Society
Laguna Canyon Foundation is a 501(c)(3) nonprofit organization dedicated to preserving, protecting and enhancing Orange County's South Coast Wilderness. Your
legacy will help us continue to purchase land for open space, restore native habitat for animals and birds and introduce schoolchildren and people of all ages the wonders of
wilderness. Please help KEEP IT WILD by considering Laguna Canyon Foundation in your estate plans.
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Celebrate Spring in Laguna Coast Wilderness Park
Lupines, poppies and monkey flowers are leading the way to the most spectacular wildflower season in years. Take advantage of warm weather and avoid weekend
crowds by visiting Little Sycamore Canyon, the James Dilley Preserve or Willow Canyon staging areas on weekdays. Or make a reservation to enjoy one of the many guided hikes, bird watching or wildflower walks led
each month by Laguna Canyon Foundation volunteer naturalists. You may even want to become a volunteer!
For an event schedule or information on volunteering, call Laguna Coast wilderness Park at 949-923-2235 or visit our website, www.lagunacanyon.org. All programs are free. Parking is $3.
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Photographs: Blue Dick and California Poppy by Patricia Minassian, Johnny Jump Up by Don Millar, Wild Rose by LCF
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Financial Workshops Scheduled for Spring
Laguna Canyon Foundation is proud to sponsor the series of twice-yearly workshops, It's Your Money and It's Your Estate. Focusing on a different topic each week, the free sessions will be
held again this spring at various Orange County locations (see calendar). Guest experts will answer questions regarding fixed-income investing, estate planning, long-term care
insurance, annuities, variable annuities, mutual funds and many other subjects.
Financial Workshop Calendar
Mondays
- It's Your Estate, 10-11:30 a.m., March 31-May 19, Newport Beach Central Library,
Friends Community Room, 1000 Avocado, Newport Beach. Contact: Tracy Keys, Newport Beach Library Foundation, 949-717-3890.
- It's Your Money, 1:30-3 p.m., April 7-June 2 (skips Memorial Day, May 26), Lakeview
Senior Center, 20 Lake Road, Irvine. Contact: Keen Center for Senior Resources, 949-724-6926.
Tuesdays
- It's Your Money, 10-11:30 a.m., April 8-May 27, Casa Romantica Cultural Center &
Gardens, 415 Avenida Granada, San Clemente. Contact: Noreen, 949-498-2139, ext. 10.
- It's Your Money, 2:30-4 p.m., April 8-May 27, Florence Sylvester Senior Center, 23721
Moulton Parkway, Laguna Hills. Contact: Guine, Laguna Canyon Foundation, 949-497-8324.
Wednesdays
- It's Your Estate, 2-3:30 p.m., April 2-May 21, Fullerton Senior Multi-Service Center, 340
W. Commonwealth Ave, Fullerton. Contact: 714-738-6305.
Fridays
- It's Your Estate, 10-11:30 a.m., April 4-May 23, Norman P. Murray Community & Senior
Center, 24932 Veterans Way, Mission Viejo. Contact: 949-470-3062.
- It's Your Estate, 1-2:30 p.m., April 4-May 23, Sea Country Senior Center, 24602 Aliso
Creek Road, Laguna Niguel. Contact: 949-425-5151.
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Mariposa Lily
Photograph by Barbara Norton, OC Parks
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