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Update on DOL Fiduciary Rule

Two lawsuits aimed at overturning the Department of Labor (DOL) rule that requires financial advisors who provide advice on retirement plans (including IRAs) to act as fiduciaries have met with early defeat. A third lawsuit was heard last month and the judge in that case promised a decision quickly. To ... Read More
 

Post Election Thoughts

I think most of us wonder what a Trump Presidency will mean to investment markets in the coming months and years. I know one thing: guessing the future is as futile with Mr. Trump in the White House as anyone else who sits there. It seems to be a fundamental ... Read More
 

How to Lose Money

I recently read an article with this title written by Harry Markowitz, the 1990 Nobel Laureate and the father of modern portfolio theory. I was amused and wanted to share his primary points. According to Dr. Markowitz, there are many ways to lose money, of course, but with tongue firmly ... Read More
 

Millennials and Money

Fidelity Investments recently completed a study on the money habits of Millennials (ages 25-35 in the study) and found some facts that make it clear this group of adults is very different from their older cohorts. For example: On average, Millennials have a higher amount saved to cover an emergency ... Read More
 

Stock Market Returns and Presidential Elections

Predictions about presidential elections and the stock market often focus on which party or candidate will be “better for the market” over the long run. The growth of one dollar invested in the S&P 500 Index over nine decades and 15 presidencies (from Coolidge to Obama) shows it does not ... Read More
 

Bogle Says Retirement Crisis Has Three Parts

John Bogle, the crusty former Chair of The Vanguard Group, recently spoke out about the retirement crisis in America. According to Bogle, there are three aspects to this crisis: Social Security insolvency Woefully underfunded corporate and government pensions Ridiculously high costs of most 401(k) plan investment options. Bogle didn’t list ... Read More