Fees


Jan

27

2016
Is the Rise of Passive Indexing Creating New Risk?

Is the Rise of Passive Indexing Creating New Risk?

Earlier this week, famed fund manager Bill Ackman distributed his annual letter to investors (Pershing Square Annual Letter).  2015 was not kind to Ackman.  Pershing’s funds recorded their worst performance since their 2004 inception. In the letter, Ackman acknowledged several missteps...

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Dec

01

2015
The S&P 500 Index Fund Hall of Shame

The S&P 500 Index Fund Hall of Shame

“Just buy the damn index fund.” -Jack Bogle Indexing is an attractive investment strategy.  It usually offers a low-cost way of gaining exposure to a particular asset class.  Numerous studies have shown that cost plays a key role in the...

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Nov

17

2015
Rethinking Advisory Fees

Rethinking Advisory Fees

The most popular methods of compensation in the advisory industry have always irked me. Traditional, commission-based brokerage models are sketchy at best.  They are fraught with misaligned incentives and more often than not, investors are left dealing with salespeople, not...

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Aug

18

2015
In Defense of Active Management…

In Defense of Active Management…

Here is an excerpt from an article I came across on the Wealthfront blog: …investing is, in a competitive sense, a zero sum game. Investors as a whole own the entire market, and so on average they must generate a...

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