Why Clients Fire their Advisor
Change is hard. Humans like patterns, routines, and familiarity. This is especially true when dealing with sensitive issues like financial affairs. We rely on people…
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Does it Still Make Sense to Own Bonds?
“Bonds as an asset class will always be needed, not just by insurance companies and pension funds, but by aging boomers.” – Bill Gross, retired founder of PIMCO It’s an 800-pound gorilla. The biggest asset class in the world (and...
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What Happens After a +25% Year?
I have an evening routine of perusing Twitter for market research nuggets. I email myself interesting articles to read the following morning. I’m not looking…
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What’s All This Volatility Talk?
“When you compare the fundamental risks that we see all around the globe with the lack of volatility in our securities markets, it’s profoundly troubling.”…
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Pure Portfolios 2017 Client Letter
In the spirit of the great Warren Buffett’s annual shareholder letter, we feel it’s important to share not only our thoughts on financial markets, but…
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Following the Herd: Short-Term Bonds
The current tightening cycle has so far been reminiscent of its mid-2000s counterpart. At the time, Federal Reserve Chair Alan Greenspan had characterized the fall…
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Tis the Season for Wall Street Forecasting
“It’s not easy to be as bad as they are. They are much worse than random chance alone would predict.” Salil Mehta, Statistical Ideas The annual…
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Introducing Everplans
“In a moment of crisis, the last thing a family should be doing is worrying or being hassled about paperwork. Everplans elegantly solves that problem.”–…
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Delusional Return Expectations
“Returns expectations are simply too high. It means that many will face a shortfall when they come to realize their investments in the future as…
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Forget the Fed. Focus on Coordinated Global Tightening
2017 has been a great year for investors. Global equities are higher. Volatility is non-existent. Heck, even left-for-dead fixed income has posted positive returns. However,…
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