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 [...]
Beat ’em or join ’em?
Over the past month, with increasing frequency, I have been hearing the following question: “Why does the stock market keep going down? I understand why the market dipped when the Fed raised interest rates, but why does it keep going down day after day.” If you've been feeling unnerved by the [...]
A year-end housekeeping checklist
It's hard to believe that Thanksgiving is right around the corner. But with six weeks left before the end of the year, there's still plenty of time to do some financial housekeeping. Below are seven recommendations: 1. Visit your CPA: During tax season, accountants are so inundated with work [...]
How smart?
Sometimes we don't give kids enough credit. Yesterday, my first-grader reminded me of this fact. On a trip to CVS, he was looking through the drink cooler when he asked “what's smartwater?” But, before I could answer, he started with his own commentary. Seeing the price tag — which was more than [...]
An uncomfortable question
A few years back, a fellow named Wylie Tollette faced some uncomfortable questions as he sat before the public oversight committee of the California Public Employees Retirement System (“CalPERS”). As the pension fund's Chief Operating Investment Officer, Tollette was responsible for updating the [...]