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Timely views and timeless advice on investing and planning from Thompson Wealth Management, Ltd.
The trade deficit has become a political football leaving many with the perhaps misguided notion that our trade deficit with countries like China and Mexico makes us a loser. As with many things economic, it ain't that simple. Arm yourself with the facts:
Experts and pundits are notoriously bad at forecasting, in part because they aren't punished for bad predictions. Also, they tend to be deeply unscientific. Moreover, most of us engage in constant forecasting without even realizing it, and that can have an important impact on the way we think about investments. This podcast from Freakonomics Radio will help you rethink the subconscious ways in which we all take forecasting risk. The psychologist Philip Tetlock is finally turning prediction into a science -- and now even you could become a super forecaster.
The fiduciary rule will help to ensure that financial institutions act in investors’ best interests when providing retirement advice.
Do you understand what diversification does for your portfolio? While people generally know diversification is a good thing, they’re often not sure exactly how or why. Academic research has shown that investors don’t understand diversification's impact on volatility and expected returns.
Are you really worse off after the recent drop in stocks?
Sharp increases or decreases in the stock market may have a lower impact on your financial plan than you think. Sometimes when you lose in one aspect of your plan, you gain in another. That’s the “Even Steven” concept.
What it Says About the Way Our Economy is Changing
Great article by Michael Porter of Harvard Business School about the importance of GE's decision to relocate its headquarters to Boston, not just because of what GE brings, but because of why it is coming.
GE's transformation over the last decade reflects how manufacturing is changing, the good things that portends for our economy and our competitiveness in global markets, but also the disruption it brings. Increasingly, the have and have not's will align along those who embrace change, and those stuck in old ways of thinking.
This has powerful implications going forward for our human capital -- one of our most valuable assets.
The best advice is too boring for TV, and not profitable enough on Wall Street.
Given recent weakness in the stock market, and financial media’s tendency to magnify every normal wiggle, this is as good a time as any to revisit some long term perspectives, and some of the do’s and don’ts of a market correction.