Category Archives: Investing

Diversification’s Gold Standard

Posted on July 25, 2019 by

I am an advisor with a past, a past managing global bond funds. For over twenty years, I invested in a vast array of markets and bond sectors around the globe. These included sectors like high yield and emerging markets … Continue reading →

Posted in Asset Allocation, Equities, Investing, Market Cycles, Rates, Volatility | Tagged , , , ,

Man Plans, and God Laughs.

Posted on July 11, 2019 by

Der mentsh trakht un got lakht.  — Yiddish proverb Winston Churchill believed that he had limited time. His father, Lord Randolph Churchill, had died just shy of his 46th birthday. Sir Winston lived into his 91st year, smoking cigars and … Continue reading →

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Does/Should the Fed Care About the Stock Market?

Posted on June 21, 2019 by

Once upon a time, in another millennium, I worked at the Federal Reserve Bank of New York. It was during the reign of Chairman Volcker, first of his name. One thing I did was prepare statistical packages for the officers … Continue reading →

Posted in Credit, Economics, Equities, Investing, The Fed | Tagged , , , | 2 Comments

Collecting Is Not Investing

Posted on May 31, 2019 by

When I was 17, on the cusp of driving age, I had dinner at a friend’s house. I remember this particular dinner because of the question his dad asked me. This friend’s family was wealthier than most of those I … Continue reading →

Posted in Investing | 3 Comments

Procrastination Has Its Price

Posted on May 9, 2019 by

April is the cruelest month, keeping me inside doing taxes while I stare jealously at my friends’ Strava feeds detailing their adventures and the miles they’ve ridden. April is also the month that many inflict cruelty upon their future selves … Continue reading →

Posted in Investing | 2 Comments

Jeopardy and Understanding Your Goals

Posted on April 16, 2019 by

On April 9, 2019 James Holzhauer broke the figurative bank on Jeopardy by winning $110,914 in one day. The previous one day record was $77,000. James did it by going after high value clues first, by seeking out the Daily … Continue reading →

Posted in Goals, Investing, Planning | Tagged , , , | Leave a comment

Finance Is a Language

Posted on March 27, 2019 by

He walked quietly into the lecture room, tall, thin and pale. His suit hung loosely off his frame. He spoke softly: “This is 15.439, Problems in Finance. There is a list of 50 problems for this course. If we do … Continue reading →

Posted in Asset Allocation, Bonds, Economics, Finance, Investing | 2 Comments

Hitting ‘Em Where They Ain’t

Posted on March 19, 2019 by

 “Keep your eye on the ball and hit ‘em where they ain’t”                                                          … Continue reading →

Posted in Asset Allocation, Bonds, Currency, Equities, Investing | Tagged , , , , | Leave a comment

Portfolio Management: Cooking With Hamburger Helper

Posted on March 7, 2019 by

Betty Crocker introduced Hamburger Helper in 1971. You took chopped meat and mixed it with what, in essence, was filler to complete the meal. Much of active management works the same way.
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Posted in Equities, Investing, Volatility | Tagged , , | 1 Comment

Diversify When the Upside Is Limited

Posted on February 12, 2019 by

While having lunch with a client recently, I asked about his attitude towards risk.  His half-joking response was that he would like high returns with no risk. I’ve heard similar sentiments echoed many times down the years. We all want … Continue reading →

Posted in Credit, High Yield, Investing | Tagged , , , | Leave a comment