I’m amazed that the year-to-date return for all of the non-US stocks are up 26.2 percent, and the S&P 500 is ‘only’ up 15.7 percent. It seems like a long time since global stocks have outperformed the S&P 500, so I decided to do some digging. I started with a slightly different index than what I use in the market summary. The summary is all non-US stocks, but for further… Read More
Last week, I attended Schwab Impact in Denver, Schwab’s annual conference for financial advisors — an amazing spectacle with about 5,500 advisors and another 2,000 exhibitors. I think it was my 22nd time going, and I said last year would be my last because I’d “seen it all before.” My partners suggested I go with some of the younger folks — were they calling me old? Either way, I had… Read More
We often say that we eat our own cooking, and I think everyone understands what we mean: we personally invest in the same strategies and products that we recommend to our clients. As fiduciaries, we’re already required to put our clients’ interests ahead of our own. Technically, I suppose it’s possible to meet that obligation while investing differently ourselves, but it wouldn’t make much sense. What we’re really saying is… Read More
