“Hold some cash in reserve to take advantage of future opportunities.”– Seth Klarman, author of Margin of Safety. An underrated joy of writing our blog…
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Cash is a Weapon
How Advisors Saddle Clients with Massive Tax Bills
My favorite quote on taxes comes from Morgan Stanley… “You must pay taxes, but there’s no law that says you have to leave a tip.” Recently, we met a prospective client that was baffled how her advisor generated a large...
read moreLoose Bubble Talk
“I’m hard-pressed to recall when any sort of bubble was accurately identified in real-time on the cover of a major media publication. If anything, the…
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Beware of the Lazy 60/40
“A traditional static indexing approach leaves an investor overweight the riskiest assets at the riskiest times and underweight those low risk assets when their returns…
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Unwinding a Variable Annuity
“Variable annuities are the cigarettes of the investment world, which has hidden its curse for decades.” – Ken Fisher, Fisher Investments. I keep a fluid…
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Turning Safe Into Risky
“The more expensive debt becomes, the less weak corporations will be able to maintain the illusion of health.” Trevor Noren, 13D Research There seems to…
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Less Obvious Mistakes
“Getting rich is one thing. Staying rich is quite another.” – Morgan Housel, The Collaborative Fund We are often asked a variation of “what are…
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Hedge Fund Hold Up
The return of market volatility has increased the interest in alternative asset classes. A quick rundown of Barron’s You Make the Call publication shows private…
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Sell in May and Go Away
They’ve done studies, you know. 60% of the time, it works every time.”– Brian Fantana, Anchorman: The Legend of Ron Burgundy. Profit seeking investors are…
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Portfolio Audit
We hunt the internet for the best value. We read online reviews before making a purchase decision. We compare the leading brand with a less…
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