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Market Correction of 2016

You may have noticed that the stock market has had a rough few weeks to start the new year.  Including yesterday’s (Jan 20, 2016) selloff, the S&P 500 Index is down 9% for the year and 11.9% from a recent high made in November.  To use some technical jargon, this means that we have reached a “correction” (a decline of 10% or more) but not yet a “bear m

Smaller Investors Can Go to the Head of the Class with Institutional Shares

Along with fund performance and risk ratios, expense ratios are a critical factor in determining the potential of funds to outperform the indexes and their peers, but they are easily overshadowed by robust returns in strong markets.  Now that the market is settling in, and fund returns are reaching relative parity with the market, expense ratios become even more important.

We have Nothing to Fear

A thoughtful client expressed concern recently because of a CNNMoney article titled “‘Extreme Fear’ is Back for the Stock Market”.

To which my initial response was:  So What?

Follow the Money

Early in my financial planning career, I learned the first obligation of a true financial advisor:  Protect your clients from the financial services industry. 

The Importance of an Investment Philosophy

If you listen to any of the world’s leading investors they will tell you that nothing is more important to long-term investment success than a clear investment philosophy. Investment strategy, while important, is nothing more than a manifestation of an investment philosophy.

Planning for the New Retirement

The need for retirement planning didn’t really exist until well into the 1970s. Up to that point, people worked until age 65, spent a few years in leisure through their life expectancy which was about 69. Many retirees of that era were able to coast into retirement with a cushy pension plan.

If Only They’d Tell You

I think all advisors have a list of things that we wish that product salespeople would tell their clients.  When they come to us, we get to tell them the “bad news”.  And then they feel bad because they did something wrong (I’ve learned I never score bonus points with prospective clients by telling them they messed up).  Here are some of our most recent experien

Market Declines are Part of Long-Term Investing

The above chart teaches some great lessons on investing.  It shows two important data points per year for the S&P 500 Index from 1980 thru April 30, 2015.  Those two points are 1) the overall rate of return including dividends each year shown as the grey bars, and 2) the largest intra-year drop that occurred during the year noted by the purple dots (in other words, the largest pea

For Long-Term Investors Fees Really Do Matter

After costs, the return on the average actively managed dollar will be less than the return on the average passively managed dollar for any time period.
—William F. Sharpe, 1990 Nobel Laureate

Financial Entertainment is Closer to a Carnival Than to Financial Advice

It’s always fun to see reactions from people I meet when I tell them what I do for my work.  The title “financial planner or financial advisor” means different things to different people.  A common response I hear is a question regarding a short-term investment idea they heard from a financial pundit (usually on TV).  The details are different, but the category

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