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The Illusion of Stock Picking Skill

The Illusion of Stock Picking Skill

 I first visited a Wall Street firm in 1984. I was there with my longtime collaborator Amos Tversky, who died in 1996, and our friend Richard Thaler, now a guru of behavioral economics.

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1384 Hits

Stock Market Corrections: What History Says

Stock Market Corrections: What History Says

Many individual investors sell when the market declines out of fear it will never come back. The data actually says the opposite...

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32 Hits

Stock Market Corrections: What History Says

Stock Market Corrections: What History Says

Many individual investors sell when the market declines out of fear it will never come back. The data actually says the opposite...

...
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1610 Hits

Six Wall Street Moves You Should Never Emulate

Six Wall Street Moves You Should Never Emulate

 Key Takeaway: You should never try to emulate Wall Street investors who have a history of repeating these bad mistakes:

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1745 Hits

Six Wall Street Moves You Should Never Emulate

Six Wall Street Moves You Should Never Emulate

 Key Takeaway: You should never try to emulate Wall Street investors who have a history of repeating these bad mistakes:

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1182 Hits

Advice for a Market Downturn: Have a Calm Heart and a Clear Mind

Advice for a Market Downturn: Have a Calm Heart and a Clear Mind

The markets have been on a tear following the recovery from the financial crisis—with some pundits saying a market correction is due. Here’s how to prepare yourself.

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1548 Hits

Advice for a Market Downturn: Have a Calm Heart and a Clear Mind

Advice for a Market Downturn: Have a Calm Heart and a Clear Mind

The markets have been on a tear following the recovery from the financial crisis—with some pundits saying a market correction is due. Here’s how to prepare yourself. 

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1102 Hits

Choice Overload in 401(k) Plans: What Buying Jam Can Teach Us.

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1521 Hits

Age My Face: Strategies to Increase Savings, Change Behavior

Age My Face: Strategies to Increase Savings, Change Behavior

Did you know that looking at a picture of yourself ten to twenty years down the road might help you to be a better saver?

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1372 Hits

Client Letter October 2013

Client Letter October 2013

Perspective Amid Worst-Case Forecasts

Now that the market is some 20% higher than it was on January 1st, how many even remember the "fiscal cliff" concerns that caused the market correction last fall? Doomsday scenarios on the budget deficit erroneously analogize the fiscal condition of the entire country to the condition of a household.  They fail to recognize the country's valuable tangible and unique intangible assets, supported by an unparalleled history of innovation.  The present wave of innovation may be entering a new phase of deployment rendering current budget assumptions meaningless.

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1129 Hits

Teach your children (to save) well

Teach your children (to save) well

Insight on teaching children and grandchildren to be good savers - a lesson which will serve them well throughout their lives.

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1349 Hits

Shiller and Fama: Nobel winning concepts at work in your portfolio

Shiller and Fama: Nobel winning concepts at work in your portfolio

It is gratifying that Eugene Fama and Robert Shiller won the Nobel Prize in economics last month because these scholars have had a formative influence on my investment thinking over the years, but their theories are contradictory... Which one is right?

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1643 Hits

Best Advice I Ever Received

Best Advice I Ever Received

The holidays are a time for relaxing, helping the less fortunate, showering family and friends with love and attention—and, sometimes, for smiling and nodding through unsolicited stock tips from an overbearing relative who has been sampling the eggnog.

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1891 Hits

Digital Asset Protection

Digital Asset Protection

Traditionally, we've focused on your physical and financial assets.  However, these aren’t the only assets that need attention – you should also think about protecting your digital assets.  

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1537 Hits

Digital Asset Protection

Digital Asset Protection

Traditionally, we've focused on your physical and financial assets.  However, these aren’t the only assets that need attention – you should also think about protecting your digital assets.  

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1226 Hits

The One Thing You Must Master -- Your Own Behavior

The One Thing You Must Master -- Your Own Behavior

Young students coming out of business school invariably ask me, "What is the one thing I must master to achieve success in the investment world?"

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1475 Hits

Arithmetic of All-In Fund Costs

Arithmetic of All-In Fund Costs

Compared to index funds, actively managed funds charge higher investment management fees and, because there is more turnover, they incur much higher transaction related costs.

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1486 Hits

Smoking Gun on Active Management & Market Timing: the Performance of Tactical Allocation Funds

Smoking Gun on Active Management & Market Timing: the Performance of Tactical Allocation Funds

Following up on my recent post, New Research on All-in Funds, I thought it would be informative to show how this plays out in the real world.

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1296 Hits

Behind the Bull Market: The Second Wave of Transformation by John Mauldin

Behind the Bull Market: The Second Wave of Transformation by John Mauldin

“It’s not too much of a stretch to say that we’re in a race between how much wealth and value and improvement in lifestyles human ingenuity can create versus how much destruction of wealth and lifestyles governments can destroy.”

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1865 Hits

Chasing Returns has a High Cost

Chasing Returns has a High Cost

The investment behavior of households could be influenced by their own past experience, especially by the return performance of their portfolios.

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1177 Hits

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