One of the great things about the Internet is that it’s broken down many of the barriers to information that existed in the past. Investors can now become more informed than ever before if they know where to look and who to trust. You no longer have to go through the gatekeepers to access relevant…

I’ve gotten the opportunity to speak with a number of college students over the past few years. I’m always impressed at how far ahead of the game most of these students are from where I was at their age. At these talks, I mostly try to share my story and tell them some of the…

Tim Ferriss had a wide-ranging interview on a recent podcast with Ezra Klein. They touched on a few subjects where Ferriss was quick to point out he didn’t have all the answers. I liked how he framed the idea of our overconfident nature: Humans are, and history certainly proves this out over and over and over…

There were two stories this past week about Fidelity Investments that seem to be very much related and could signal how things may play out in the asset management industry going forward. The first was about a price war among the discount brokerages. Here are the details courtesy of ThinkAdvisor: A price war has erupted among…

“Become more humble as the market goes your way.” – Bernard Baruch Lately, it feels like every time I time I log into check my investment accounts the market values are higher than the previous time I looked. The stock market continues to hit all-time high after all-time high. I have to admit, it feels pretty…

One of the biggest benefits of innovations in technology, communication platforms, and social networks is the ability to gain access to a wide variety of conferences, events, and speeches that would have been nearly impossible to listen to or view in the past. Charlie Munger held court at the annual meeting for the Daily Journal…

I had a financial advisor reach out to me recently with some questions about implementing some changes to his firm’s asset allocation models. It served as a good reminder about the importance of asset allocation in the investment process. Few investment decisions matter more than asset allocation but many investors choose to focus their attention elsewhere….

While doing some research this week I pulled out my old copy of Meir Statman’s book What Investors Really Want and came across this gem on what most investors are looking for: We want high returns from our investments, but we want much more. We want to nurture hope for riches and banish fear of poverty. We…

In the hierarchy of institutional investors, you won’t find a more competitive group than college endowments. They’re in constant competition with one another and the markets. It’s almost like a bizarre finance version of Duke-North Carolina in basketball or Michigan-Ohio State in football. Endowment funds try to invest in only the best money managers –…

It’s only been eleven days since Donald Trump’s presidential inauguration. A lot has happened in that time. We’ve had executive orders, immigration bans, protests, regulation changes, people getting fired and hired in senior White House positions and much more. It seems you can’t go a couple hours without something new happening that causes an uproar….