Judge Steven W. Rhodes’ ruling that the City of Detroit is officially bankrupt and that pension benefits for public pension fund beneficiaries may be reduced will have major repercussions throughout the public pension fund industry...
Many investors are drawn to fixed income because it provides steady income, and has the ability to diversify portfolio risk. Fixed income investors contend with the challenges of very low expected returns, a paucity of skilled managers who have t...
As this bull market climbs its “wall of worry,” we can see its underlying strength. Valuation concerns and the risk of a major correction appear overblown, as we should see a continued rebound in economic fundamentals over the coming months.
App...
The sale of your financial advisory practice will take a significant amount of effort and planning. Even if you are a self-described maverick, selling your firm is not a process that you should attempt to do by yourself. Even for the smallest...
“The intellect is always fooled by the heart.” - Francois de La Rochefoucauld
Of all the cognitive biases that influence human behavior, recency bias is by far the most harmful to long-term investors. This is the tendency for investors to pro...
One of the ironies of Ben Bernanke’s tenure is that he set out with a goal to improve Fed communication while in office. Immediately after his first meeting as chairman in March 2006, Bernanke set up a subcommittee tasked with facilitating...
Despite the evidence that active managers fail to beat their passive index alternatives, investors have not given up on alpha – they still want to beat the market. Ironically, they have decided to simplify their search, rather than intensify...
It is no secret that today’s advisors face a fiercely competitive business landscape that requires a differentiated manager. Time and again investors report that they look to advisors to do more than manage money; they want someone to solve...