Market Efficiency Doesn’t Matter
In a recent discussion on the Advisor Perspectives website (it was in response to an article I wrote on the performance of Third Avenue Management’s actively managed funds), someone commented: “I am, for the most part, a proponent of passive...
Should You Really Be Buying That? How to Decide If a Purchase Is Really Worth It
“It was totally worth it.” In this case, “it” referred to a Vitamix blender that a friend recently had purchased. He wasn’t the first. Indeed, I don’t know anyone who has purchased a Vitamix blender and didn’t share my friend’s...
Start Listening to Burnish Your Reputation as a Trusted Adviser
You know what’s crazy? The key to getting people to think you’re smart is to stop talking and to start listening. Let me share a little story to demonstrate. Recently, I attended a dinner party with my friend and colleague...
Genes, Experience Affect Choices
Are you a value investor or a growth investor? Could your preference be influenced by a biological predisposition partially ingrained from birth? Is it possible that your choice of investment could be explained by your personal experiences, both early on...
What qualifications are required for a municipal bond to meet our buying parameters?
Quick Take on Fixed Income November, 2015 Question: What qualifications are required for a municipal bond to meet our buying parameters? Answer: While there have been few defaults in the municipal market, it’s important to note that not all muni...
Misleading “Debates” on Active vs. Passive Harm Investors
While it’s a low bar, Bloomberg TV always seemed to me to be the best of the financial media. Its anchors are professional and knowledgeable. Its coverage is broad and responsible. It avoids the hype and sensationalism typical of many...
