Your financial advisor is probably ripping you off…

Your financial advisor is probably ripping you off…

Aug. 9, 2017 by

Maybe not actually, but at the very least you are probably paying more than you should for financial advice. A Bloomberg piece recently covered a study looking at the median fees paid by individuals for advisory services. The study, conducted

What happens when index funds eat the market?

What happens when index funds eat the market?

Feb. 14, 2017 by

I’ll preface this by saying, I employ primarily index ETFs for my clients as they offer diversified exposure to asset classes at a minimal cost. That said, it is interesting to consider the larger market effects of the ever larger

More evidence on the power of simple investment strategies

More evidence on the power of simple investment strategies

Feb. 10, 2017 by

Simplicity and clarity of investment strategies are key parts of my investment philosophy and more and more data is starting to back up a low cost, broadly diversified investment plan. For instance, the New York Times just ran a story

Great Piece on Financial Journalism

Great Piece on Financial Journalism

Jan. 23, 2017 by

It is always important to remember that the financial media are exactly what they sound like, media. They are not fiduciaries, advisors or necessarily experts in finance; they are, however, entertainers who make their wages by getting page views… http://www.humbledollar.com/2017/01/did-i-say-that/

Rethinking Active Management

Rethinking Active Management

Sep. 19, 2016 by

Rethinking Active Management Active equity management has been much maligned over the past few years as index funds continue to lower their fees and the track record of active managers has been less than impressive. There are many factors for

New Evidence on Performance of ESG Strategies

New Evidence on Performance of ESG Strategies

Sep. 7, 2016 by

The jury has been out for some time on whether using socially and environmentally responsible investing adds to or reduces investor returns. Papers over the past decade have shown evidence in both directions. Many investors would like to use ESG

Diversification and Hindsight

Diversification and Hindsight

Jun. 13, 2016 by

Corey Hoffstein at the Newfound Research Blog recently posted a great article on diversified investing. Diversification Will Always Disappoint The key takeaway from my perspective is the acknowledgement that investing in a diversified portfolio can be hard emotionally. When you

Great piece by John Oliver on the retirement industry

Great piece by John Oliver on the retirement industry

Jun. 13, 2016 by

This piece by John Oliver is amazing and sums up, in a much more entertaining way, my views on the current state of the retirement industry. John echoes many of my core values of investing for clients; reasonable advisory fees,

Momentum Strategies Work… Until They Don’t

Momentum Strategies Work… Until They Don’t

Jul. 22, 2015 by

In their paper “Momentum Crashes”,┬áKent Daniel and┬áTobias J. Moskowitz set out to build a better momentum strategy. After reviewing the research on momentum strategies for equities of the years they dive in and create a strategy that aims to avoid

Mutual fund return persistence, Part 1: Large Cap Value

Mutual fund return persistence, Part 1: Large Cap Value

Jul. 1, 2015 by

There has been tons of research as to the existence of true skill among mutual fund managers. Often researchers will look at advanced statistics and in depth breakdowns of holdings. While this research is interesting, I think it is simpler