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The Three Legged Stool: Version 2.0

Saturday, August 31st, 2013, by

Here’s an ancient rhubarb that we once learned about our ultimate retirement funding. The three legged stool. For those of you too young to remember, the three legs of the stool were: a.  Social Security b.  Your defined benefit pension payment, from your thirty plus years of employment with the same benevolent employer. c  Your […]

Poor Charlie’s Almanack

Saturday, August 10th, 2013, by

It seems that my reading queue tends to run in cycles. For fiction, I’m now deep into the works of Larry McMurtry (Lonesome Dove…and many, many others).  No one else seems to have such a deft touch in describing Texas, in both historic and contemporary terms. And for non fiction, I’ve taken on the task […]

Learning from your Mentor’s Mentors

Saturday, July 13th, 2013, by

I make it a point to read everything I can find that is written by and about Warren Buffett. The purpose is not to amass a $50 billion net worth as he did.  His talent is rare and unique.  But there is no harm in emulating what he accomplished on a more modest scale. What […]

The Wealth Secret That Hides In Plain Sight

Saturday, June 22nd, 2013, by

As investors, we must have a built in bias to take anything that is simple at its core and mold it into something complex and expensive. What brings this to mind is a recent appointment with my newest wealth management clients, a professional couple who have done an admirable job of living within and below […]

The Inefficiencies of the Efficient Markey Theory

Saturday, May 18th, 2013, by

The Nobel Prize committee may be having second thoughts on all the prizes awarded to economists these past several decades. And while we are on the topic, let’s remember that there are Nobel Prizes awarded in areas where scientific discovery is justified. I’m thinking of the prizes in medicine, physics and mathematics. But then we […]

The End of the Active Managed Mutual Fund: It’s About Time!

Tuesday, February 12th, 2013, by

For investors today, it’s almost unimaginable to contemplate the investment landscape that we faced just four decades ago. Brokerage commissions had not yet been deregulated.  There was an iron clad cartel among the major brokerage firms that burdened small investors with commissions of several hundred dollars for even routine trades, compared with the abundance of […]

The Triumph of Hope over Experience

Saturday, October 27th, 2012, by

That’s the expression cynics use when someone gets married for the second time.  But I think it ought to be tagged to those who expect above average stock market performance as a result of paying for “expert” advice. I will concede that the army of finance specialists who serve as gatekeepers to the markets have […]

It’s all a matter of trust: in your Financial Advisor

Friday, October 5th, 2012, by

This will probably strike you as a shameless promotion for my wealth management practice, but that’s ok by me.  After all, this is the way the public now views fee only financial planners and wealth managers. I’m referring to the news article I found in Investment News (the issue of September 24, 2012) entitled “Advisers […]