Questions That Need Answers
It’s no wonder that you are confused. The financial media inundates investors every day with a barrage of irrelevant — and often misleading — information. You might think every conceivable question about investing has been fully explored by now and...
The Phony Fiduciary ‘Debate’
The battle over the legal standard to which advisors should be held when giving investment advice has two fronts: Advice given by advisors to retirement plans and advice given by advisors to everyone else, including individual investors. The position of...
This Test Proves You’re Overconfident
Much has been written about the perils of overconfidence in investing. Nobel laureate Daniel Kahneman reported one compelling study in his book, Thinking, Fast and Slow. CFOs are overconfident You might think CFOs of large corporations would have valuable insight...
My Interview with Jack Bogle
Last week, I met Vanguard founder Jack Bogle in his office for a video interview. I had asked him if he would be willing to endorse a crowdfunding campaign to help underwrite the production costs of Trade-Up. Trade-Up is the...
The Supreme Court Decision in Tibble vs. Edison Is a Game-Changer
On May 18, the United States Supreme Court issued its decision in Tibble v. Edison International. On its face, the court’s holding is unremarkable. In a rare 9-0 decision, it ruled that plan sponsors have a continuing duty to review...
Stunning Odds Doom Your Returns
Few investors understand the stunning odds that are likely dooming their returns. The system is rigged against investors and in favor of those who “manage” their money. Mutual fund families, brokers and insurance companies are the big winners in this...
Two Predictions You Can Take to the Bank
Most predictions are utter nonsense. They’re made by self-styled “gurus” who are really emperors with no clothes. If they are right, it’s due to luck and not skill (although they are quick to claim credit). Warren Buffett’s view of those...
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...
The Stock Picking Era Is Over
I’m sure Jim Cramer will be the last one to leave the burning building, but the era of stock picking is basically over. He continues to talk about index funds as being adequate for those who don’t have the time...
The Biggest Scam of Them All?
This is the time of year when investment boards and committees in charge of selecting fund managers for pension plans and 401(k) plans gather for a time-honored ritual. They review the past performance of their fund managers and decide whether...
