2014 Fearless Forecasts – Looking Back and Gazing Ahead
Each year in my January newsletter (“News and Views”) I make a number of predictions about the stock market, the domestic economy and maybe a few key trends. At the same time, review the accuracy, or lack thereof, of my Fearless Forecasts from the prior year. So let’s first see how my prognostications from last year panned out before I make this year’s prognostications....
Read MoreMarket Achieves Record Levels
About an hour into trading today, the S&P 500 and the Dow Jones Industrial Average have both surpassed previous all time highs and achieved significant milestones. As I write this around 10:30am, the DJIA is at 15,003, marking the first time in history the venerable index has reached that level. Similarly, the S&P 500 is at 1,616, the first time that index has ever been over 1,600. And...
Read MoreFiduciary Duty From Your Advisor
This week, I’d like to talk about fiduciary duty. I will be borrowing liberally from an article written by Knut Rostad in the February 11, 2013 edition of Investment News. Mr. Rostad is the president of the Institute for the Fiduciary Standard, a nonprofit formed to advance fiduciary principles through research, advocacy and education. By way of background, fiduciary law was established to...
Read MoreUnspoken secrets in the money management business
The past few weeks have been dominated by storms, literal and figurative: the election, the fiscal cliff, Sandy, the nor-Easter and now infidelities. It was enough to give me a brain cramp and writer’s block. Rather than talk more about that which has been discussed too much already, I thought today I’d share with you some of the unspoken secrets in the investment management...
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