4576 Weeks to Live

“Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked.” I bought what some would call a death calendar. The average human...

Should I Borrow Against my Portfolio?

“We were dramatically pushed to put these on all of our client accounts.”– Steven Dudash, former Wall Street broker. Traditionally reserved for high net worth…
Read More

Should I Consolidate My Assets?

“The ability to simplify means to eliminate the unnecessary so that the necessary may speak.”– Hans Hofmann. Having multiple investment managers is often viewed as…
Read More

Hedging Equities with… Equities?

In response to the financial crisis, investment managers scrambled to find alternative strategies to soften total portfolio risk during extreme market drawdowns. Hedge funds, with…
Read More

Money Quotes

Over the 4th of July weekend I made it a point to unplug and reflect. I do some of my best thinking when I’m off…
Read More

Fear Sells. Don’t Buy It.

I have a close relative that is debating taking a new job. The new position would be more favorable from a tax standpoint, commute time,…
Read More

The Bond Market Doesn’t Believe the Fed

“Just remember that 10 of the last 13 Fed hiking cycles have been miscalculations that ended in recession.”– David Rosenberg, Chief Strategist at Gluskin Sheff….
Read More

Valuation Matters, Except When It Doesn’t

“The market can remain irrational longer than you can remain solvent.” John Maynard Keynes, Economist The Shiller price to earnings ratio (CAPE) is a popular…
Read More

Drive Your Managed Portfolio into the Ground

“Invert, always invert.” – Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett’s partner. Munger borrowed the idea of inversion from 19th century…
Read More

The Rise of the Call Center Advisor

“If I were a single-digit millionaire tossed out of the “paradise” of private banking, I’d walk away from that bank altogether. They don’t want me?…
Read More