Yearly Archives: 2013

2014 Market Strategy

Well, everyone else is trotting out their “best ideas for 2014” lists, so here we go. 1) Admit how little you really know.  You don’t know what US stocks will do.  You don’t know what international stocks will do.  You don’t know what interest rates will do.  You don’t know what the economy will do. […]

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Most Read Posts from 2013

A short rundown of my most-read posts from the past year: 1) The Ridiculous Nature of Asset-Based Fees. This post from May caught attention from across the web, linked by Abnormal Returns, The Motley Fool and reblogged by several other sites.  It was cross-posted at ColoradoBiz magazine and caught a lot of Twitter traffic from Morgan Housel, Ron Lieber and […]

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2013 Best of the Financial Web

Probably my favorite thing about the current state of the web is the opportunity for reasonable, rational people, from advisors and financial professionals to bloggers and formal journalists to have a platform and voice.  Some great work was done this year, and I want to highlight a few pieces that you should not have missed. […]

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The “Stock Picker’s Market” gets checked

It’s a story that gets trotted out every few years by mutual fund managers and the brokers who sell them. “It’s a stock-pickers market!” They’ll then go on to talk about “falling stock correlations” and how they will now be able to beat the market. The reason they couldn’t beat the market last year is […]

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Facebook & Why You Shouldn’t Own the S&P 500 Index

Facebook was added to the S&P 500 yesterday (announced on 12/11/13).  Here’s what the stock did in after-hours trading immediately after the announcement: Facebook’s stock price jumped about 4% after the announcement.  Does inclusion in the S&P 500 suddenly make Facebook more profitable?  Did inclusion in the benchmark add magic to Facebook’s business model? No. […]

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About that market forecast for next year

Bob Seawright has another great piece up over at Above The Market on the accuracy of Wall Street market forecasts. How did this year’s targets work? From Bob’s piece: Firm / S&P 500 Target / Missed it by this much (%, as of 12.10.2013) Wells Fargo / 1,390 / 29.7% UBS / 1,425 / 26.5% Morgan Stanley / 1,434 / 25.7% Deutsche Bank […]

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Dry & Wet Years

“And it never failed that during the dry years the people forgot about the rich years, and during the wet years they lost all memory of the dry years.  It was always that way.” – John Steinbeck, East of Eden Our nature rarely changes. Humans have impossibly short memories and thanks to our recency bias […]

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5 Financial Priorities to Make In Your 30’s

You finished college (and probably grad school, law school or medical school), and landed a real job.  That real job has turned into your career, and it’s time to get serious about what you’re doing with your money.  If you have not figured out your financial priorities, here’s how to get started. 1) Cash in […]

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What are your biases hiding?

I spend a lot of time talking with people. In a sense, talking to people and listening to people is what I do for a living. During the process, I hear a great deal of what investors are thinking.  What they think is going on in the world, what has happened in the markets, the […]

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What’s your track record?

Every advisor gets the question from a prospective client in some form or fashion.  On the surface, I understand.  An investor shopping around for an advisory relationship is looking for ways to compare advisors s/he has interviewed. If not referred to this advisor, what do they have to go on? A website, some marketing material […]

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How Investors Choose Advisors

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Retiring Early? 4 Things You Need to Know

You’re there! You’ve spent the better part of your lifetime working, earning, saving and investing prudently.  Maybe you sold your business or are taking off the corporate suit and tie for the last time. Whatever the backstory, you’re ready to retire early and you have some big decisions that need to be made. Health Insurance […]

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