Behavioral Finance


Apr

06

2017
The Future is Bright

The Future is Bright

* This is the 2nd article in a series about the Confidence Allocation * Last week I wrote that having conviction in a foundational set of beliefs is critical to long-term investment success.  Let’s build on that. If you want to...

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Mar

31

2017
Confidence Allocation

Confidence Allocation

* This is the 1st article in a series about the Confidence Allocation * “All you need in this life is ignorance and confidence, and success is sure.” -Twain Investing, like many things in life, can be confusing.  Even the best...

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Jan

06

2017
revolution

When Average is Superior

Charley Ellis is the former chairperson of Yale’s investment committee and a well-known investment consultant. In 1975 he authored his now famous paper “The Loser’s Game.” He concluded his introduction with these humbling words: Psychologists advise us that the more...

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Dec

21

2016
2016 Favorites

2016 Favorites

We live in amazing times.  The amount of content available at our fingertips is seemingly limitless.  20 years ago, access to such wide-ranging, diverse ideas would have been nearly impossible.  Today, finding a new (or old) idea is always few...

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Nov

04

2016
Compensation Paradox

The Compensation Paradox

Yesterday I met with a CPA whose client paid $65,000 in fees to his advisor last year.  Let that sink in for a bit. $65,000. That is a full-time salary.  This man obviously had a large portfolio (~$10 million) so...

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Oct

14

2016
Narrating Randomness

Narrating Randomness

Everything happens for a reason…right? If something can’t be explained, it bothers us. When dealing with financial markets, this is a dangerous feeling to have. With millions of investors and traders participating in a pricing game from all over the...

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Oct

07

2016
Game On

Game On

Earlier this week the Massachusetts SEC filed a complaint against Morgan Stanley alleging their use of sales contests to incentivize product sales were harmful to the public’s best interests. Employees could win valuable prizes by convincing their clients to borrow...

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