We’re launching SkyNet

Happy Friday! We are launching a robo solution in April, so I wrote about robo-advisors this week in the context of technological progression. Financial services did a good job fending off technology for as long as they did. Still, with VC-supported fintech and inefficiencies that were just begging to be annihilated, this industry is now…More

It’s about time

Happy Friday! I was going to write about the Fed’s first rate hike since 2018, but I just didn’t have it in me. We’ve already discussed this too much, and there’s not much else to say. The Fed is way behind, they should have done this a year ago, and 25 bps does almost nothing…More

Even Icarus wouldn’t fly Southwest

Happy Friday! The 3Q2021 Quarter in Review is available. Pay attention to the last section (titled “Looking Ahead”). In late August, I suggested we should prepare for the economy to start slowing down, so I extrapolated this subject. Don’t forget the punchline here – deceleration is good for the economy and the stock market. Slow…More

Two ends of the spectrum

Happy Friday! I hate writing about looming government decisions that don’t follow set deadlines because it’s a lot of work to put these pieces together. Policymakers always seem to squash whatever subject I write about like 5 minutes before I click “send.” Which is precisely what happened this week. I tackled the debt ceiling, which…More

Goodbye and good riddance

Happy Friday! September is over, and just like every year, it sucked.  Since January, it was the first losing month in the S&P 500 (down 4.76%). It was also the worst overall month since – you guessed it – last September. I’ve said this many times before, but I don’t know why September has been…More

Give the Fed a break

Happy Friday! I wrote about Evergrande this week and why I think the phrase “Lehman moment” is being misused.  If it’s to define what could be the tipping point for an over-levered sector to correct in a society voluntarily moving back towards famine (aka “communism”), then yes, it very well could be a “Lehman moment.”…More

Don’t use your illusion

Happy Friday! I’m hosting a webinar on Monday discussing M&A in RIA-land. I’m going to talk about what you can do to make your practice attractive to an acquirer, how to build enterprise value, and what you should be thinking about if you want to acquire. This week, I wrote about 20 myths in finance…More

Bo Jackson was no value investor

Happy Friday! I was trolling through my digital archive of sarcasm the other day, which is obviously extensive, and I came across something that made me smile: This nugget became the inspiration for this week’s piece. I love quoting smart and famous people because it makes me appear as smart and famous as those I…More

Try not to get stabbed

Happy Friday! I wrote this week about the dangers of concentrated holdings. Because tell me if this sounds familiar… You have a client with a few million in investible assets. Roughly 95% of it is in one stock that was either handed down to them from parents or they don’t want to pay taxes on…More

Plaxico should have brought a knife

Happy Friday! This week’s piece is sort of a call to action for clients and advisors. I’ve said for years now that the 60/40 approach was like bringing a knife to a gunfight. So, I wrote a comprehensive note on why I think this to be the case.  Please take the time to carefully read…More