…1952, simply titled ‘Portfolio Selection.’ While the idea is elegant and perfectly right, the problem is that we can only solve this equation with historical data or estimates for the…
…the Fed releases economic forecasts from the various FOMC members. The following chart shows their estimates for real (inflation-adjusted) GDP growth for 2015-2017 and an estimate for ‘longer run’ growth….
…that the average cost for families with more than $110,000 in income is ‘only’ $36,946. When I looked at my wife’s college, Denison University in Ohio, I found roughly the…
…The balanced portfolio still loses money (every investment does), but the losses are a lot less substantial. As you look at the data, keep in mind that we’ve isolated the…
…future and discount their estimates of future value. When times are unusually uncertain, as they clearly are now, it makes sense to discount what you are willing to pay for…
…all of the essential services are working. As a result, everyone is now working from home, often with our specialized phones from the office, additional computer monitors and even some…
…– until the recession is over and sidestep some losses?” It’s an understandable question, but it makes me uncomfortable because I have some powerful memories of the 2008 global financial…
…only goes back to 1994 and has averaged 10.7 percent, so at 11.2 percent, we still have a ways to go before the underemployment situation is ‘back to normal.’ While…
…small cap value, predate commercial indexes. DFA argues that ‘slavishly’ following indexes is detrimental to returns and that they can increase the expected return of their portfolios by being flexible…
…they show up in a momentum fund. In a perfect world, they would show up in both (cheap but moving higher). We don’t attempt to manage around those exposures so…
