Suppose you walked into a restaurant, and they handed you a menu without prices. Would you conclude that: (1) Everything is free (2) Something funny is going on I doubt anyone would choose option 1; it defies logic. Yet, this is how the 401(k) industry routinely operates, and large numbers [...]
May 1, 1975
In the history of the investment industry, May 1, 1975 is a date that ought to be enshrined. On that day, the industry took not one, but two, remarkable steps forward. The first change was an action by the SEC to deregulate stock brokers. For the first time in more than a hundred years, brokers [...]
A popular investment worth avoiding
Albert Einstein once said, “Everything should be made as simple as possible, but no simpler." When it comes to investing, I have always believed that the simplest approach is the best approach. But, in recent years, a new type of investment has, I believe, crossed over into the “too simple” [...]
The value of alternatives
A few days ago the stock market again hit a new all-time high. But instead of feeling unalloyed glee, many investors seem to be struggling with mixed emotions. They are, of course, thrilled at their gains. But at the same time, they are hesitant to invest further into a market that has already [...]
The Lopez twins and your retirement
If you're a basketball fan, you may be familiar with the Lopez twins—Brook and Robin. On the surface, they are identical in every way. Both stand seven feet tall. Both went to Stanford University. Both entered the NBA draft in 2008, and both were picked in the first round. Since then, both have [...]
