Anyone who follows my work knows that I am a staunch advocate for index funds and believe that stock-picking is a very difficult road. That said, there are some undeniable facts about stock-picking: All of the great fortunes -- Rockefeller, Carnegie, Gates, Buffett -- were earned by way of owning [...]
Does the market “know” anything?
Yesterday saw an odd juxtaposition. In Washington, the Senate conducted hearings into allegations of misconduct inside the White House, with potentially serious implications. Meanwhile, on Wall Street, no one seemed to mind very much. In fact, the market hit a new all-time high on Thursday [...]
Warren Buffett’s best advice
In a classic episode of the TV show Seinfeld, Jerry and his friends invoke the term “bizarro” to describe an odd, alternate version of their own world. This term — bizarro — actually originated in the 1960s, in Superman comics, and it has entered popular usage to refer to any situation which seems [...]
A careful look at private funds
When asked why he robbed banks, Willie Sutton replied, "because that's where the money is." Similarly, private funds are attractive to high net worth investors because they carry the potential for outsized returns - that's where the money is. Several factors explain this potential. Among them: [...]
A four-part litmus test
Investing doesn't need to be nearly as complicated as Wall Street makes it out to be. In fact, the basic principles are really very straightforward. And, while there are a thousand different ways to evaluate investments, I recommend starting with just four: 1. Funds with low costs, [...]
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