24 Mar 2025

Warning: Fraud is on the Rise

Last week, we received inquiries about our “55 Stocks Elite Community” and the “Event Driven Magic Seven.” Of course, we don’t have an elite community or magic anything. It was a scam, and we were being impersonated online. Someone posted market commentaries on WhatsApp, including my photo and others from Acropolis. These scams use well-known investors like Ray Dalio, Bill Ackman, and Cliff Asness. While I would typically be proud… Read More

By David Ott Tags: , ,
21 Mar 2025

Important Notice: Fraudulent Schemes Impersonating Acropolis Investment Management, LLC. (ACR)

There have been recent incidents of individuals and groups falsely claiming to be associated with Acropolis Investment Management, LLC. (ACR) on social media platforms. These imposters have engaged in a variety of unauthorized conduct, including soliciting customers to carry out trading activities with them, impersonating ACR using the genuine names of ACR senior executives or employees to offer investment opportunities, claiming to offer investment training courses that are supposedly provided… Read More

By Bob Fleming
17 Mar 2025

Sentiment Shifting

As noted above, the University of Michigan Consumer Sentiment index received much attention last week. The index is a monthly survey of at least 500 US households, who are asked about their current financial situation, economic expectations, and attitudes toward purchasing major household items. The consensus estimate for February was a reading of 63, which would have been a little lower than the January reading of 64.7. When the actual… Read More

By David Ott Tags: , , , , , ,
10 Mar 2025

Nobody Likes Volatility

The headlines have been volatile lately, leading to anxious calls from clients wondering if they should take action based on what they think might happen. If you want to make some changes at the margin, that’s probably okay, but a wholesale change at this moment probably says more about your political views than an unbiased investment outlook. When we set an asset allocation policy with clients, it’s usually in the… Read More

By David Ott Tags: , , , , ,
3 Mar 2025

How Do Tariffs Work?

A longtime friend and reader asked me to explain how tariffs work. Of course, it’s a politically charged topic, but a simple description of how they function should be apolitical and straightforward enough. I will start with a made-up product, Wakanda’s Widgets, which are imported to the US. My made-up supply chain has three players: the manufacturer in Wakanda, a US importer that also acts as a distributor and the end retailer… Read More

By David Ott Tags: , ,
24 Feb 2025

The Hedge Fund Alternative, Part 2

Last week, I said that I would broadly explain hedge funds, but I was distracted by their high costs. I promise to stay on point today. Hedge funds are pooled investment funds that are less regulated than other types of pooled vehicles like mutual funds and ETFs. They are less regulated because their clients are wealthier, which presumes them to be more sophisticated (I’m not sure that’s true, but that’s… Read More

By David Ott Tags: , , , , ,
3 Feb 2025

The Roaring 20s

A few weeks ago, someone told me we’re halfway through the 2020s. I was caught off guard, but they were right. They went on to say that this 1920s is looking even better than the last round 100 years ago, so naturally, I went to the data. The chart below shows the growth of $1 invested in large-cap stocks 100 years ago (in green) and this century (in yellow). Somewhat… Read More

By David Ott Tags: , , ,
27 Jan 2025

The Cutting Room Floor (Part 2)

Last week, I promoted tonight’s 7th Annual Investor Social by showing some of the slides that I had to cut from the presentation. Since we are at capacity for the ballroom, I was scolded and told to do it again, but I’m breaking the rules because I said I would show more today! Plus, I think it’s okay to come to the show as long as you’re okay standing in… Read More

By David Ott Tags: , , , ,
21 Jan 2025

The Cutting Room Floor (Part 1)

Next Monday night, January 27th, Acropolis will hold our 7th Annual Investor Social. Although we are near capacity, there are some spots, so if you can make it, please call to make a reservation. This week and next, I will include some slides that didn’t make it into the final presentation to keep the event moving but were too good to throw away. I’ve often written here that stocks are… Read More

By David Ott Tags: , , , , ,
13 Jan 2025

Breaking Down Bonds

We’re only 10 days into the new year, and markets of all stripes are off to a rocky start. I think people intuitively understand that stocks are volatile, and after two years of 20+ percent gains for the S&P 500, a small “give-back” isn’t so hard. Bonds are another story. Most people quickly admit that they don’t understand them very well but know they are supposed to be the “safe”… Read More

By David Ott Tags: , , , , , ,