“One of the biggest problems I have with the flat-fee structure is that it does implicitly incentivize a culture of asset gathering.”– Matthew Spencer, Director…
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Death of the Fixed 1% Fee
Bear Market Feedback is Gold
“Investors’ mental models tend to be simple, based on recent history, an extrapolation of trends, and an overreliance on frameworks that worked recently.” – Dan Rasmussen, The Humble Investor Most people set goals with a desired outcome in mind. Getting...
read moreWhat Happens if the U.S. Goes to War?
“Rising overseas tensions usually don’t cause economic slumps or bear markets… but it’s not unheard of.”– Ben Levisohn, Barron’s The CFA Institute’s Enterprising Investor blog published a…
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Risky Business of High Yield
With corporate leverage continuing to surge—on record pace again in 2017—the threat of the “zombie” bubble popping appears increasingly real.– 13d Research The absolute level…
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When Times Are Bad Pt. 2
“The stock market is a battlefield. Always remember to survive in the game first. Only those that survive the battle can enjoy the spoils of…
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The Age-Based Portfolio
“You get recessions, you have stock market declines. If you don’t understand that’s going to happen, then you’re not ready, you won’t do well in…
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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…
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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…
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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…
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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,…
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