Evidence-Based Investing
The Clear Value of Planning
My title is a play on Gordo Byrn’s piece from this morning. Perhaps like him, my career in finance is...
No one knows anything (2014 edition)
Certainly not where the market is going to go in 2014. First, some numbers: The S&P 500 (SPX) is an...
Investing without faith
What is the opposite of religion? I had to think about this the other day. In a discussion with a...
People who shouldn’t hire me, part 3: “I want to be healthy but keep abusing drugs.”
Every one in my profession has seen this multiple times: the client who swears they want to be...
People who shouldn’t hire me, part 2: “this time is different”
Today I want to look at the bane of existence for everyone doing real financial planning, as well as the...
People who shouldn’t hire me, part 1: the market beater
In many industries and professions, a practitioner is advised to describe his ideal client, and try to...
The next market correction is coming. It’s always coming.
That’s what it does. And so is the next recovery, and the next correction after that. So now that...
It’s hard to be smarter than the world, twice.
One of our firm’s clients is dumping his shares of Apple stock now that the price has fallen below...
Hedge fund managers make a ton; hedge fund investors now know where their money went.
From the department of “you can fool a lot of rich people an awful lot of the time” comes...
The market staggers forward
If you are not already reading his blog, you should make a point to read Barry Ritholtz’s Sunday...