This annual report looks holistically at the real value advisors deliver for their clients, in their portfolios, in vital services advisors provide, and this year, especially in their after-tax returns. We developed a formula to calculate the full value equation of an advisor’s services.
Productivity and Structural Reform: Why Countries Succeed & Fail, and What Should Be Done So Failing Countries Succeed - Ray Dalio
In this report the drivers of productivity are shown and are used to create an economic health index. That index shows how 20 major countries are doing as measured by 19 economic health gauges made up of 81 indicators, and it…
Avoid Using a Home Equity Loan for These Five Things
If you need cash, you might be thinking about tapping into your home equity. In some cases, this can be a great alternative to a personal loan — but exercise extreme caution when putting your
Don't French Fry When You Should Pizza
Student debt recently surpassed $1.5 trillion. Yes, trillion. Clearly, the vast majority of students finance their college costs. Unfortunately, many students turn to credit cards to pay for incidental costs and
Did You Know: Roth IRAs Can Be Used as Education Savings?
With 70 percent of college students graduating with student loans, saving for college in some form has become a fact of life in the world of post-secondary school. This may look like a future student
The Best Way to Have a Stress-Free College Experience
According to a recent survey, only 1/3 of the U.S. population knows what a 529 plan is. With over the national student debt surpassing $1.5 trillion and impacting 44 million Americans, a tax-advantaged
Does Real Estate Have a Home in Your Portfolio?
Real estate has given investors a tangible real asset to help maintain the purchasing power of their savings. The 2,000 square foot question is, should you hammer real estate into your portfolio?
What Will Be the Next Boost for the Stock Market?
The opening ceremony of the 2018 Winter Olympics began on February 9, 2018. It’s unfortunate this wonderful ceremony was preceded by the first stock market correction since 2016.
What's Your Next Shot?
On January 15th, 2018, the Australian Open kicked off. This tournament is the first of the major four Grand Slam events of the year and it gives us tennis fans a perspective of what may occur
When Is Your Advisor Too Old to Be Your Advisor?
“I just returned from the doctor, unfortunately, I have Alzheimer’s disease, cancer, and high cholesterol.” Then your advisor pauses, then looks at you and says, “Well, thank god I don’t have cancer.”
Lease or Buy? Either Way, Own Your Decision
For decades, those looking to buy a new car struggle with the decision of leasing or buying. I’m providing this synopsis, so this decision does not overwhelm you one day. Leasing is simply renting
Excuse Me Stock Market - May I Order Some Speculation with a Side of Complacency?
The 2018 menu of portfolio choices is one that should be read carefully. The average investor may have trouble staying focused on the menu amid hindrances due to headlines involving North Korea
Populism: The Phenomenon
This report is an examination of populism, the phenomenon—how it typically germinates, grows, and runs its course. Populism is not well understood because, over the past several decades, it has been infrequent in emerging…
A Mountain of Decisions, Where Do We Go from Here?
Heading into 2015, some individuals may have developed a certain confidence when it comes to investing. A tendency to classify oneself more like a Wall Street trader than a prudent long-term
Quantifying an Advisor's Alpha
The value proposition of advice is changing. The nature of what investors expect from advisors is changing. And fortunately, the resources available to advisors are evolving as well.
Alpha, Beta, and Now...Gamma
When it comes to generating retirement income, investors arguably spend the most time and effort on selecting ”good” investment funds/managers—the so called alpha decision
The End of Behavioral Finance
Tn 1985, Werner De Bondt and I published an article that asked the question: "Does the stock market overreact?" The article was controversial because it gave evidence to support the hypothesis
Most People Need Longevity Insurance Rather Than an Immediate Annuity
An immediate annuity is precisely the sum of two parts. One is a deferred annuity commencing at a specified date, with no death benefit before that date. The remainder, before the deferred annuity commences, is a reverse…
Goals-Based Wealth Management
Wealth management processes have not always been responsive to an individual clients’ priorities and modes of thinking. A model is presented and evaluated that uses goals-based wealth management concepts to…
The Big Short
The real story of the crash began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower- and middle-class Americans who can't pay their debts.
The Geometry of Wealth
In The Geometry of Wealth,behavioral finance expert Brian Portnoy delivers an inspired answer based on the idea that wealth, truly defined, is funded contentment. It is the ability to underwrite a meaningful life. This stands in stark contrast to angling to become rich, which is usually an unsatisfying treadmill.
The Fifth Risk
"The election happened," remembers Elizabeth Sherwood-Randall, then deputy secretary of the Department of Energy. "And then there was radio silence." Across all departments, similar stories were playing out: Trump appointees were few and far between; those that did show up were shockingly uninformed about the functions of their new workplace. Some even threw away the briefing books that had been prepared for them.
Bogle on Mutual Funds
Certain books have redefined the way we view the world of finance and investing—books that should be on every investor’s shelf. Bogle On Mutual Funds—the definitive work on mutual fund investing by one of finance’s great luminaries—is just such a work, and has been added to the catalog of Wiley’s Investment Classic collection. Updated with a new introduction by expert John Bogle, this comprehensive book provides investors with the wisdom…
The Undoing Project
Forty years ago, Israeli psychologists Daniel Kahneman and Amos Tversky wrote a series of breathtakingly original papers that invented the field of behavioral economics. One of the greatest partnerships in the history of science, Kahneman and Tversky’s extraordinary friendship incited a revolution in Big Data studies, advanced evidence-based medicine, led to a new approach to government regulation, and made much of Michael Lewis’s own work possible.