How to Interview a Financial Advisor

When someone reaches the point when they need financial advice, the idea of interviewing a professional is intimidating.  For many years, we met with people who admitted that they did not know what to ask and were making decisions on hiring someone based on their gut.  You can imagine the risk in that.  The advisor […]

Focus, Not Concentration

To focus is to have clarity on what is and what isn’t. It is to know what is relevant and what can be ignored. To concentrate is to put all of one’s energy and resources into one place. Investors are rewarded for focusing on what is important, penalized for concentration. This year if you concentrated […]

Reading List: Thinking in Bets, by Annie Duke

Thinking in Bets by Annie Duke.  Sometimes the stock market has been referred to as a “casino”.  As investors, then, who better to learn from than a champion poker player like Ms. Duke?  Truthfully she has written a very well-researched book on the role of skill and chance in determining any outcome.  A career at […]

The Patience to Get Rich Slowly

Last month, Bloomberg featured a research report on why Hedge funds continue to attract investors despite lackluster performance (https://www.bloomberg.com/view/articles/2018-06-26/is-hedge-fund-love-in-our-dna). Because of their complexity and secrecy, Hedge Funds have an attraction that appeals to our illusion of control.  We don’t want to believe that