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Be Wary Of ‘Experts’

Date20 Apr 2015

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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 investment pros is the wrong strategy. As Jim Cramer once famously said to Jon Stewart...

What is prime broker?

Date20 Apr 2015

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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 only protecting their privacy but also making the trading process more efficient and less prone...

Avoid The Famous & Authoritative

Date20 Apr 2015

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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 devastating losses that can result. That leads to what we can call the “Wizard of...

3 Fine Passive Funds Compared

Date20 Apr 2015

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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 structured asset-class funds attempt to replicate the returns of popular retail indexes, like the S&P...

3 Ways To Write Your Own Story, Like Baseball’s Daniel Norris

Date20 Apr 2015

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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 with his apparently Spartan existence. He’s simply choosing to live life according to his priorities....

Don’t Believe The Active Hype

Date20 Apr 2015

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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, saying: “There’s no expertise without collaboration.” To determine if there is any evidence to back...

Three Ways to Write Your Own Story, Like Baseball’s Daniel Norris

Date20 Apr 2015

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Your Brain Is Rigged to Panic in the Next Correction

Date20 Apr 2015

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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 market, causing harm to Main Street investors. Many respected financial commentators disagree. They believe high-frequency...

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