Finding Surer Footing
We left the trail head at 1 a.m. and headed for the summit of the Grand Teton. I had made this climb several times, but my friend was still new to mountaineering. This trip was his first attempt at the...
Let’s Redefine ‘Smart Money’
Frank Luntz is a corporate consultant, pollster and political consultant to Republicans. His specialty is in messaging and finding the right words to help his clients sell their products or turn public opinion on an issue or a candidate. In...
Be Wary Of ‘Experts’
Many individual investors have seen their portfolios devastated, despite having followed the advice of “experts.” They are left wondering, “What went wrong?” As you may have already guessed, the answer is that following the advice of “future tellers” disguised as...
What is prime broker?
Quick Take on Fixed Income April 2015 Q: What is prime broker? A: A prime broker essentially allows clients to trade through an omnibus account at the various custodians. Trading through such an account allows clients to remain anonymous, not...
Avoid The Famous & Authoritative
In my last post, I discussed how we tend to crave certainty, even when we know, logically, that it doesn’t exist. With investing, it’s a desire to believe that there’s someone who can protect us from bear markets and the...
3 Fine Passive Funds Compared
Index funds and structured passive asset-class funds are similar in the way that rectangles and squares are similar. All squares are rectangles, but not all rectangles are squares. Comparatively, while all index funds are passively managed, not all passively managed...
3 Ways To Write Your Own Story, Like Baseball’s Daniel Norris
Yesterday, a bearded 21-year-old surfer who lives in a 1978 VW bus, and on a self-imposed annual allowance of $10,000, mowed down my beloved Orioles with a 96-mile-per-hour fastball. Blue Jays pitcher Daniel Norris isn’t striving to make a statement...
Don’t Believe The Active Hype
I was struck recently by a commercial for the MFS family of mutual funds. In its advertisement, MFS stated: “We believe in the power of active management.” They then went on to boast about the power of their global network,...
Three Ways to Write Your Own Story, Like Baseball’s Daniel Norris
Yesterday, a bearded 21-year-old surfer who lives in a 1978 VW bus, and on a self-imposed annual allowance of $10,000, mowed down my beloved Orioles with a 96-mile-per-hour fastball. Blue Jays pitcher Daniel Norris isn’t striving to make a statement...
Your Brain Is Rigged to Panic in the Next Correction
Your emotions are your portfolio’s worst enemy, more so than an actual market correction. By now, you’re no doubt familiar with the claim by author Michael Lewis in his book, “Flash Boys.” Lewis believes high-frequency traders have rigged the stock...
