Commentaries

May
1

The Case of the Expensive Market

Written by: and

It’s a real mystery.  The market is expensive, yet stocks have nevertheless been trending ever higher. Bloomberg News reports that in a recent closed-door investment confab, the legendary hedge fund manager Paul Tudor Jones observed that the total market capitalization of U.S. stocks is currently about 125% of U.S. GDP.  In other words, the aggregate […]

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Mar
22

Dow 40,000

Written by: and

We’d like nothing more than to see the Dow continue its ascent and double yet again. Maybe this is the greatest bull market in history and the market will push higher and higher over the next few years? It’s already the second longest and third strongest bull market in history. And valuations were this rich […]

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Oct
21

Advisor Alpha Continued

Written by: and

In 2001, Vanguard introduced the concept of Advisor Alpha, a method by which advisors can attempt to quantify their value or, at the very least, be aware of the areas where we can maximize value for clients. Recently, in a September 2016 white paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha,” Vanguard […]

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Sep
29

Advisor Alpha

Written by: and

In 2001, Vanguard introduced the concept of Advisor Alpha, a method by which advisors can attempt to quantify their value or, at the very least, be aware of the areas where we can maximize value for clients. Recently, in a September 2016 paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha,” Vanguard expounded […]

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Sep
27

Thinking about Social Security

Written by: and

Even for the mass affluent, Social Security is a major part of retirement planning.  Say a married couple receives a total monthly benefit of $3,000, which equates to $36,000 per year.  Using a 4% annual withdrawal rate, this couple would need an additional $900,000 in investments to replace their Social Security benefits. With this simple […]

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Recent Posts

March 22, 2017
October 21, 2016