What’s Your Process for Making Portfolio Changes?
“To get something done a committee should consist of no more than three people, two of whom are absent.” – Robert Copeland, U.S. Navy Admiral…
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Markets After Major Geopolitical Events
“The world changes. This is the biggest problem in markets.” – Bill Miller, former chairmen of Legg Mason Capital Management T. Rowe Price, founder of the Baltimore-based investment firm that bears his name, wrote an essay in 1937 titled, “Change...
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Are Low Yields a Good Reason to Shun Bonds?
“I don’t get why anyone would buy a 10-year bond yielding 1.5%” – Former Colleague Low bond yields are the new normal. It’s enough to…
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How to Tell if your 401(k) Plan is Hot...
We are conditioned to sock away money for retirement ASAP. You should save at least 10% of your income. By the time you’re 30, you…
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Random $#%&
“No matter how sophisticated our choices, how good we are at dominating the odds, randomness will have the last word.” – Nassim Nicholas Taleb, Fooled…
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The Amazing Run of U.S. Tech Stocks
Friend: “I need to buy more QQQ.” Later that day, while on a call… “Tech stocks make me nervous. I fear a repeat of the…
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Do You Have an Information Filter?
“Thirty years ago the best investors had the biggest funnels of information. Today the best investors have the best filters of information. The market is…
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Want Dividend Yield? Here’s Where to Look…
“As far as dividend yields go, the UK, Italy, Spain, and Singapore all offer dividend yields north of 4%, while US markets have the lowest…
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What Does the SECURE Act Mean for You?
On December 20th, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act, effective January 1, 2020,…
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Pure Portfolios 2020 Client Letter
It seems like yesterday that we left the corporate suits behind to launch Pure Portfolios. We are forever grateful to the clients that took the…
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