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UK Exceeds US In Common Sense

Date27 Apr 2015

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Recent events have led me to conclude that, at least in some ways, the U.K. is ahead of the United States when it comes to investing. The first—and by far the most important—reason I have for drawing such a conclusion is that in January 2013, all licensed financial advisors in the U.K.were required to become...

How Economics and Literature Made Me a Better Investor

Date27 Apr 2015

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When I look back at the courses in high school and college that were most influential in my financial life, it’s a dead-even heat between economics (expected, right?) and English (whoa, come again?). At Wellesley College, there is an iconic economics course taught by Prof. Joe Joyce on capital markets. In this class, students are...

‘The One-Page Financial Plan’ — Simple, But Not Simplistic

Date27 Apr 2015

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Simple is hot, even fashionable. But in many cases, it’s for all the wrong reasons. Simple is easier to pitch, explain and sell, and therefore also easier to receive, understand and buy. But when simple devolves into simplistic, becoming a one-dimensional end instead of a user-friendly means, it’s no longer an advantage and may actually...

Simple Financial Solutions Often Beat the Complex Ones

Date27 Apr 2015

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“Can it really be that simple?” Over my career, I’ve heard these words from so many people. Clients, friends and family all just assumed that the process of financial planning needed to be complex. This assumption doesn’t surprise me. The traditional financial industry is built, in large part, on the notion that complexity equals quality....

Don’t Play The Loser’s Game

Date27 Apr 2015

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Recently, a blog post by Chris Marx, a senior portfolio manager for equities at New York-based AllianceBernstein (AB), came to my attention. In it, Marx commented on a March 9, 2015 article in The Wall Street Journal that highlighted the reality that today’s investors should have lower expectations for future returns because valuations are now...

How Much Are You Paying for Your Size and Value Tilt?

Date27 Apr 2015

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It’s becoming clear that the price for overall U.S. equity market exposure is close to zero. Many market-cap weighted index funds and exchange-traded funds from Vanguard and others are charging expense ratios of five basis points (bps) or less. An interesting, and more difficult, question to answer: How much are you paying to gain exposure...

Finding Surer Footing

Date20 Apr 2015

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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 popular peak. Our goal was to reach the top by sunrise so we had enough...

Let’s Redefine ‘Smart Money’

Date20 Apr 2015

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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 a fascinating interview on Frontline, Luntz made some interesting observations about the impact of language....

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