“Half a century of analysis has yet to fully answer why investors place such a large proportion of their funds with active equity managers, given the discouraging evidence on the latter’s ability to add net value” – Rotman International Journal of Pension Management With this being our inaugural newsletter, it seems fitting that we open...Read More

If your advisor has decided to own individual stocks rather than either mutual funds or ETFs (Exchanged Trade Funds) for your portfolio, I think you need to ask Why?  To justify the fees he is charging is a cynical (and likely truthful) answer. The costs to do it well. Large firms spend large sums of...Read More

When it comes to investing for the long term, the overriding factor that will determine future investment returns, other than time, is the value of the asset at the time you buy it.  Think back to the early part of this century (the technology bubble).  If you had decided to invest in late 2000 in...Read More

I offer this as an introduction.  Up to this point, I have been an investor focused on institutional assets (pension funds, endowments, etc).  It has been 18 years of being paid to do something that I have loved doing since I was a teen.  Though I originally went to college to become an engineer (receiving a BS...Read More