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Financial journalism from advisors who rather dislike Financial Journalism™

Monday, June 3, 2024

Some thoughts on the Dow crossing 40,000...

Tuesday, April 16, 2024

A few thoughts on hockey strategy and portfolio construction...

Tuesday, March 19, 2024

The biggest risk is the one no one sees coming...

Friday, February 23, 2024

Know the game you’re playing...

Friday, February 16, 2024

Some things are counterintuitive...

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Friday, February 2, 2024

Investing and the First Law of Thermodynamics.

Thursday, January 4, 2024

There were plenty of surprises...

Tuesday, December 12, 2023

Burning the ships worked well for Cortes. But...

Friday, December 1, 2023

Ben Franklin said there is nothing certain but death and taxes. The IRS put their own spin on that observation...

Friday, November 17, 2023

Sometimes dollar cost averaging looks like magic...

Wednesday, November 8, 2023

Magnificent or Average?

Friday, October 27, 2023

About those interest rate forecasts...

Wednesday, October 4, 2023

It’s been a little while since I’ve written about this topic.  Teaching kids about money and finance…and everything else is a little tougher than expected.  I don’t know when kids start to understand...

Monday, September 25, 2023

Record high credit card debt... doesn't matter.

Tuesday, September 12, 2023

The financial journos are deceiving you again...

Tuesday, August 8, 2023

What does "risk-free" mean, anyway?

Thursday, July 20, 2023

6th grade math has some startling implications for investors...

Monday, June 19, 2023

20% is greater than 5%...

Tuesday, June 6, 2023

Could a genie have helped you make money in the stock market at the dawn of the internet?

Tuesday, May 2, 2023

Our thoughts on the Media Panic Merchants' latest favorite headline...

Friday, April 21, 2023

Charles Dickens unwittingly made a good point about investing...

Wednesday, April 12, 2023

When Warren Buffett titles a section of his annual shareholder letter "The Secret Sauce," we pay attention...

Friday, April 7, 2023

A few thoughts on the S&P 500 flipping investors the bird...

Friday, March 24, 2023

A few thoughts on interest rates, money cannons, and Silicon Valley Bank...

Wednesday, March 22, 2023

The second blog of how it's going with teaching my kids about money.

Tuesday, March 14, 2023

Our 10-point investment philosophy.

Monday, February 27, 2023

Just how good of an investment is an NBA team anyway?

Thursday, February 16, 2023

Picking stocks is hard. Even if you win, you may still lose...

Thursday, February 9, 2023

Sometimes portfolio performance doesn't tell the whole story...

Friday, February 3, 2023

A different business model in the wealth management business.

Wednesday, February 1, 2023

A short story on mixing politics and portfolios

Tuesday, January 17, 2023

A different take on an annual letter to begin the year...

Thursday, January 12, 2023

An ongoing blog about how my journey of teaching my kids about money goes.

Thursday, January 5, 2023

A few thoughts on the oil panic of 2022....

Friday, December 16, 2022

You either die a hero or live long enough to see yourself become the villain...

Thursday, December 15, 2022

Buying that Lamborghini may be easier than you think...

Thursday, November 17, 2022

There are a lot of things to be said about the recent blowup of the crypto exchange FTX. I suspect much of it is irrelevant to the readers of this blog. I don’t think they have much invested in the crypto space. I’m happy...

Monday, November 14, 2022

     I don’t consider myself a good golfer.  I’ll play and then think, if I just cleaned up my mistakes, I would be awesome.  That is what separates pros from amateurs.  I played with a...

Monday, November 14, 2022

A quick internet search of “How to build good habits” yields a lot of results.  ~399 Million actually.  Dang, that is a lot of info.  It’s funny because I think pretty much everyone knows how to...

Monday, November 14, 2022

     If you could take a trip to anywhere in the world, where would you go?  Is it a domestic trip?  International?  Why haven’t you done it yet?  Could it be the cost, or time, or...

Wednesday, November 9, 2022

People say you can’t predict the market’s short-term moves.But sometimes the market serves you a trade on a silver platter.At least that’s what the market timers and the folks vying for attention on CNBC thought...

Wednesday, November 9, 2022

I normally use the bathroom sink first thing in the morning. I presume that’s typical. For a reason I can’t recall one morning the first sink I turned on was in the kitchen. Turned the knob, and… nothing. Uh oh. I...

Wednesday, November 9, 2022

It was another Friday night in August of 2015. I lived in Nashville (still do), and I was single and in my twenties. So I went to a concert. Just another Friday night in Nashville. NEEDTOBREATHE was playing at Ascend Amphitheater...

Wednesday, November 9, 2022

The most difficult part of investing is the uncertainty. Investing requires faith in the future. But the future is unknowable. It’s difficult to have faith in the future. There’s no shortage of negative news. Plenty of...

Wednesday, November 9, 2022

Remember learning about quantum mechanics in high school? Neither did I. Until I picked up a book on the subject a few years ago. Quantum mechanics is the study of subatomic particles. It’s… weird. Trying to understand...

Wednesday, November 9, 2022

I wrote recently about compound interest. Everyone thinks they understand compound interest. They remember some quote from Einstein about it.My point is that we don’t understand it. Our linear brains register exponential...

Wednesday, November 9, 2022

You and I have a common flaw. We think linearly. No fault of our own, we were designed that way. Most of the time it’s helpful. When investing, it’s not. It makes sense that you and I are linear thinkers. We perceive...

Wednesday, November 9, 2022

People like to make forecasts. Predictions. Models. It’s quite easy to make a prediction seem plausible. We all try to think logically. If events A and B occur, then C will be the result. But we’re poorly equipped to...

Wednesday, November 9, 2022

Suppose you commission a psychological study. Recruit a handful of participants and find a few cameras to record facial expressions and an electroencephalogram to measure brainwaves. Then measure emotional reactions when the...

Wednesday, November 9, 2022

You probably heard the news. At 7:30am CST this morning GDP for the 2nd quarter was reported to be a negative number. That’s two consecutive quarters of negative GDP prints. That meets the technical definition of the “R...

Wednesday, November 9, 2022

Rory, my business partner, shared something recently that struck me. He thinks doing something moderately difficult for a long period of time is far more difficult than doing something extremely difficult for a short period of time.I...

Wednesday, November 9, 2022

Inflation has been the dominant narrative in the markets of 2022. Inflation is up and everything else is down. Equities? Down. Bonds? Down. Gold? Down. Bitcoin? Down.I believe a well-diversified portfolio of equities is the greatest...

Wednesday, November 9, 2022

Rory suggested I join him training Jiu Jitsu about a year and a half ago. I liked the idea of becoming proficient in a martial art. Of being able to handle myself. And I’ve seen the John Wick movies. Who doesn’t want to be...

Wednesday, November 9, 2022

“The past can hurt. But the way I see it, you can either run from it or learn from it.” The enduring words of Rafiki, the eccentric baboon, spoken after walloping Simba on the head with his staff. Sound advice for the lion...

Wednesday, November 9, 2022

Bill Bernstein recounts hedge fund manager Ralph Wanger’s brilliant analogy of the markets:He likens the market to an excitable dog on a very long leash in New York City, darting randomly in every direction. The dog’s owner...

Wednesday, November 9, 2022

An interesting study was published in the Journal of Economic Psychology in 2007. The authors examined the behavior of soccer goalies during penalty kicks. We’ve all seen the videos. Penalty kicks are difficult to block. Just as...

Wednesday, November 9, 2022

A quote from TIME Magazine published on September 28th:If America’s economic landscape seems suddenly alien and hostile to many citizens, there is good reason: they have never seen anything like it. Nothing in memory has prepared...

Monday, November 7, 2022

Do you believe the market will eventually recover to its previous high? If you have a well-diversified portfolio – one invested in hundreds of companies across dozens of sectors and countries, I believe you ought to believe...