At least once a week, I run across the sort of portfolio I like to call a “broker’s special.” While each is different, they typically include some mix of the following: A handful of mutual funds with names like "New Economy" or “New Discovery” or "New Perspectives". Some commodity funds. [...]
The wisdom of Harry Browne
If the name Harry Browne doesn’t ring a bell, I wouldn't be surprised. Though he was twice a presidential candidate, he never captured more than 1% of the vote. To my knowledge, though, Browne was the only financial advisor ever to run for the White House. As a Libertarian, some of Browne’s [...]
How to control your tax bill
It's mid-November. Is there anything you can still do to trim your 2019 tax bill? There very well might be. One overlooked aspect of mutual funds is that they can significantly—though quietly—impact shareholders’ tax returns. By way of background, mutual funds, including exchange-traded funds [...]
What to think about the man who solved the market
This week saw the publication of a remarkable biography. The Man Who Solved the Market chronicles the life and career of hedge fund manager James Simons. Over the past 31 years, Simons’s Medallion Fund has clocked average returns of 66% per year. Even after Medallion's fees—which are the highest in [...]
The charmed life of Stewart Mott
When Stewart Mott died in 2008, his obituary in The New York Times described him as offbeat. That’s probably a fair description. Mott’s father, Charles Mott, had been one of the founding shareholders of General Motors. As a result, the younger Mott didn't need to work and instead pursued other [...]
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