The Blog

The Difficult Path to Investment Success

“[To be a superior investor,] this is the bottom line: not whether you dare to be different or to be wrong, but whether you dare to look wrong.” – Howard […]

Value and Momentum: April 2014

One strategy we use to improve performance beyond Basic Strategy is to tilt client portfolios toward asset classes that are more attractive based on value and momentum measures. Let’s look […]

Are Markets Efficient?

When I tell people that I use index funds and ETFs to build my clients’ portfolios, they seem a bit surprised that I would consider markets to be efficient. Many […]

Value and Momentum: January 2014

One strategy we use to improve performance beyond Basic Strategy is to tilt client portfolios toward asset classes that are more attractive based on value and momentum measures. Value measures […]

Asset Allocation with Value and Momentum

Last time, we discussed the overwhelming evidence that investors fail to beat a long-term asset allocation strategy (or “Basic Strategy”), by picking funds or stocks to their own detriment. Following […]